Why Dave Ramsey’s Money Advice Won’t Work for Millennials
Because saying “just work harder” ignores…everything
Let’s talk about the elephant in the budgeting room:
Dave Ramsey.
The guy’s a personal finance rockstar.
We Millennials were raised on “pull yourself up by your bootstraps” speeches. Or how about “rub some dirt on it?”
But trying to follow Dave Ramsey’s path to financial freedom is like taking a rusty horse-drawn cart on the freeway.
Things have changed, A LOT, and his one-size-fits-all methods just don’t get what we’re up against.
Why Dave’s Playbook Misses the Mark
Reason 1: Student Loan Avalanche
Dave preaches the debt snowball — tackle the smallest debts first for quick wins.
But student loans? That’s not a snowball, it’s a freaking Everest of an ice wall.
For many of you (not me, who went to community college 🥴), those monthly payments eat up any wiggle room to attack other debts his way.
Plus, that feeling of starting in crippling financial quicksand doesn’t exactly scream motivation. It just sucks.
I was told to build credit, but I had to use credit??? And so I did. At 18, I started charging $59 monthly on my credit card to build credit.
Did it help in the end? A little. Just a wee dent in my credit score.
Reason 2: The “Hustle Harder” Myth
Preaching to “Live like no one else…” works if the system rewards effort.
Many of us work our butts off, juggling jobs or side hustles, yet wages can’t keep up with absurd housing costs and inflation.
It’s not a lack of avocado toast destroying our budgets, Dave. It’s an outdated economic model, and your relentless tough love starts to feel a lot like victim-blaming.
Reason 3: Good Debt? Blasphemy!
Forget credit cards — he thinks taking out a loan makes you morally corrupt. I’m not advocating for going ham on plastic but demonizing all debt ignores two things:
- responsible credit scoring is key in this system,
- and for many, some strategic debt could jumpstart businesses or secure opportunities faster.
That’s not stupid, it’s playing the game we’re stuck with.
Reason 4: Shame Game vs. Legit Life Skills
His rants can feel like a financial guilt trip when they should be practical tools for empowerment. We get that budgets are key, but what about budgeting with inconsistent freelance income? Which is what most of us have.
Finding sneaky ways to save when rent/mortgage takes half your paycheck? There’s a difference between discipline and feeling like you’re failing just because you’re stuck in a broken system.
A Millennial’s Guide to Modern Money
Look, I admire aspects of Ramsey’s discipline. We could all use a dose of that. But 2024 needs financial guides who understand our unique struggles,
offer flexibility for new economic realities,
and maybe crack a self-deprecating joke along the way to keep us sane.
Where are the modern-day financial guides addressing these pain points? Who’s speaking our language — a little less shame, a little more empathy?
What do you guys think? Let’s get real in the comments — share your biggest financial frustrations, smart wins, and ideas for surviving this wild economy.
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Til next time!
