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Dave Ramsey has never been shy about what really grinds his gears when it comes to the financial habits of young Americans.
In a 2024 interview with Fox News, Ramsey – a boomer – shared his true feelings about millennials and Gen-Z’s financial habits: “They’re horrible. They live in their mother’s basement. They can’t understand why they can’t buy a house because they don’t work. (1) “
While this sentiment may hold true for people of any generation, younger Americans certainly have some odds stacked against them amid high home prices and interest rates.
A Consumer Affairs report found that Gen Z’s money had 86% less purchasing power than baby boomers had in their twenties (2).
Ramsey is not frustrated with all the Millennials and Gen Z in this age. But he says today’s tough economy — and the spending habits of young Americans — are what’s really holding them back.
“We have record credit card debt,” Ramsey said on his show last month (3).
The numbers add up. Total household debt reached $18.59 trillion in the third quarter of 2025, according to data from the Federal Reserve Bank of New York. Credit card balances, on the other hand, increased by $24 billion from the previous quarter to $1.23 trillion (4).
“They’ve been brainwashed to believe by the big banks that if I use a credit card, I can succeed with points and air miles, which is mathematically ludicrous,” Ramsey added more.
Creating a budget and overall financial plan can be the exact spark you need to catch to improve your financial situation. In a video with her daughter, Rachel Cruze, on her YouTube channel, Ramsey shared that getting on a budget is one of the best things you can do with your money in 2024.
A quick daily check-in of your accounts can show you exactly where your money is going.
An app like Rocket Money can easily flag recurring subscriptions, upcoming bills and unusual payments by pulling transactions from all your connected accounts.
This can help you reduce unnecessary expenses, and you can then manually direct the savings directly to your retirement fund. No spreadsheets, no guesswork, no stress. Small habits like these can make a big difference over time.
Rocket Money’s intuitive app offers a variety of free and premium tools. Free features include subscription tracking, bill reminders and budgeting basics, while premium features — like automated savings, net worth tracking, customizable dashboards, and more — make it easier to stay on top of your retirement contributions and overall financial goals.
He said that “no one accidentally wins the Super Bowl, the World Series or the World Cup,” in a video on his daughter’s channel (5).
In other words, you can’t expect wealth to fall into your lap without effort, and we can’t all call the Ramsey Show when we need advice. But hiring a professional near you can help ensure that your financial plan is comprehensive.
With Advisor.com, getting set up with a suitable — and professionally vetted — financial advisor is easy. All you have to do is answer a few questions about your financial situation, and they will match you with advisors who meet your needs.
Then, you can set up a free, no-obligation consultation to ensure you find the right fit for your wealth building goals.
Ramsey is a big proponent of the importance of long-term investing. In a February blog post, he wrote: “A sound investment strategy gives you focus, clarity and direction – and you need all three to become a successful investor. (6)”
But having this clarity and direction is easier said than done, whether you’re just starting to build your portfolio or looking to expand it.
Fortunately, there are investment platforms out there that come equipped with expert guidance so you can start building your wealth without having to become an investing savant.
One of the easiest ways to invest – without overcomplicating it – is to open a self-directed trading account with SoFi. You can start on your own terms, buy and sell stocks without paying commission, and build a portfolio at your own pace.
Even better, you can get up to $1,000 in stock when you fund a new account for a limited time.
SoFi is designed to help you learn to invest as you go. The platform offers real-time investment updates, curated content and helpful data so you can follow the markets, track your favorite stocks — helping you make smart decisions about the stocks that matter most to you.
Moby offers expert research and recommendations to help you identify strong, long-term investments backed by advice from former hedge fund analysts.
In four years, and around 400 stock picks, their recommendations beat the S&P 500 by almost 12% on average. They also offer a 30 day money back guarantee.
The Moby team spends hundreds of hours sifting through financial news and data to bring you stock and crypto reports delivered straight to you. Their research keeps you up to date on market movements, and can help you reduce the guesswork behind choosing stocks and ETFs.
In addition, their reports are easy to understand for beginners, so you can become a smarter investor in just five minutes.
Read More: Nearing retirement with no savings? Don’t panic, you are not alone. Here are 6 easy (and fast) ways to catch up
With mortgage rates also still hovering near 6%, it should come as no shock that many Gen Zers and millennials are still unable to purchase their first home (7).
That being said, even if you are unable to buy a home, you can still invest in the real estate market in a number of ways.
Ramsey himself is passionate about earning passive income through real estate, and in a March blog post he suggested investing in residential and vacation rentals, with the caveat that “renting a home is not for the faint of heart — even if you hire a property manager.”
Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit rental properties into your investment portfolio regardless of your income.
Arrived’s easy-to-use platform offers SEC-qualified real estate investments without all the hassle of property and tenant management.
You can easily browse a curated selection of vacation homes and units. Once you find a property you like, you can choose the number of shares you want to buy and start investing in real estate right away.
If diversification into multifamily rentals appeals to you, you may consider investing with Lightstone DIRECT, a new investment platform from the Lightstone Group, one of the largest private real estate companies in the country with more than 25,000 multifamily units in its portfolio.
By eliminating the middlemen — brokers and crowdfunding intermediaries — accredited investors with a minimum investment of $100,000 can gain direct access to institutional-quality multifamily opportunities. This simplified model can help reduce fees while enhancing transparency and control.
And with Lightstone DIRECT, you invest in single-asset multifamily deals together with Lightstone – a true partner – as Lightstone puts at least 20% of its own capital into each offer. All Lightstone investment opportunities undergo a rigorous multi-stage review before being approved by Lightstone Principals, including Founder David Lichtenstein.
How it works is simple: Just register with your email, and you can schedule a call with a capital formation expert to evaluate your investment opportunities. From here, all you have to do is verify your details to start investing.
Founded in 1986, Lightstone has a proven track record of delivering strong risk-adjusted returns across market cycles with a historical net IRR of 27.6% and 2.54x historical net equity multiples on realized investments since 2004. All told, Lightstone has $12 billion in assets under management – including in industrial and commercial real estate.
As such, even if multifamily rentals don’t appeal to you, Lightstone can still serve you well as an investment vehicle for other real estate verticals.
Get started today with Lightstone DIRECT and invest alongside experienced professionals with skin in the game.
Fox Business (1); Consumer Affairs (2); Ramsey Show Highlights (3); Federal Reserve Bank of New York (4); Rachel Cruz (5); Ramsey Solutions (6); realtor.com (7)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
