Loans have now become a simple matter.  The more developed the country is, the more people are in debt because the percentage of credit card use is high in developed countries and credit card is a type of debt. yes I agree that all smart people use credit cards and using credit cards means borrowing. There are some countries where a person can purchase and enjoy luxury items based on credit card points score. If someone has a low credit card points score they will not be eligible to purchase them.  In those countries, the government is pushing people into debt.  So the smarter you are, the higher your loan amount will be