7 sins that lead to debt

Envy
The rich and famous luxury items are accessible now more than ever -- and without the wealth they once implied. With more and more people sporting expensive goods, it's easy to feel left out and far behind.

"The income disparity has gone up considerably, and what has happened is that it has changed our consumption patterns," says Ronald Wilcox, professor of business administration at the Darden School of Business, University of Virginia and author of the upcoming book, "Whatever Happened to Thrift? Why Americans Don't Save and What to Do about It."