In our culture (probably a lot of other countries as well) people have tendency to showoff expensive stuff, iPhone is a good example. So, instead of planning themselves (financially) they usually throw their money away with useless stuff.
But as every rule, there are exceptions. Some people work very hard, and yes, a lot of them make a mortgage on a bank (the rates are very high here, insanely high). But, since i work on a bank, i show most people i know how bad it is to buy a house, and give them investing advices (our bonds are very good investments), and some stocks as well.
Even though i know my money will go to banks (the ones that ask for those high rates), that is not the point. I refused because of me, it does not seem just FOR ME. I can't say about the banks... About charity, i made a comment on #37 about it.