Developing a dislike for debt

The number one definition of financial success in developed markets is 'I have no debt'. This was especially the case in the US and the UK, but also very evident in Australia, Netherlands and Canada.

Braverman said the definition of success in these markets is less about what people can afford and more about how they pay for it.

"Debt is public enemy number one in the US at the moment. The sub-prime crisis has brought debt into sharp focus and people would clearly feel much more financially successful if they were rid of it.

"The US situation has flow on effects for the rest of the world too, as most economies are intrinsically linked to the US market.

"There is another reason for this focus on debt in developed markets versus emerging ones though. It is partly an attitude towards money, not wanting to take on debt in the first place. Equally though, it is about access to debt. Despite the current environment, debt is a relatively easy thing to sign up for in developed markets. In many emerging markets, for many consumers, it's not even an option," she said.

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> Money talks. But what language does it speak?

> Does money make the world go 'round?

> Taking charge... and Lady Luck

> About the 'Defining financial success' survey