Anecdotal, but in talking with my niece yesterday (early 20's) she just kind of accepts that people are in debt, that it is a normal place to be and you go on with your life despite it. You have credit card debt, but you don't let it stop you from going to a concert/Hawaii/shopping/fill in the blank.
Don't know how indicative that is of her generation's perspective (other young 20's here want to give me hope?
). Growing up I know my family was way more frugal than anyone else I knew.