savings from stimulus quickly melted away

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Take a look at how the leap in savings from stimulus quickly melted away throughout the last two years:
All this money was "YOLOed" (You Only Live Once) away on crypto, meme stocks, and other frivolous stuff.

The free money turned the younger generation into gamblers who would risk it all at a shot of wealth without much care for losing it:

So how do people make ends meet?
They borrow more. 
Take a look at how credit card debt is blowing through the roof as savings fizzle out:

Meanwhile, in just a year, mortgage rates have increased to the highest in the last two decades.

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