Dave Ramsey Warns Gen Z And Millennials Are Exploited: 'Charge The Gates Of Hell With A Water Pistol'

Financial expert Dave Ramsey is defending younger generations while warning that systemic debt traps, not inflation or housing costs, are behind their struggles to achieve the American Dream.

Gen Z And Millennials Praised For Drive And Innovation

On Thursday, Ramsey, founder of Ramsey Solutions, pushed back against stereotypes about millennials and Gen Z, calling them "the easiest generations to lead" and praising their authenticity and drive. 

"When they believe in a mission, they will charge the gates of hell with a water pistol," he said, highlighting their abundance mentality shaped by growing up with smartphones.

Debt And Student Loans Create An Affordability Crisis

But Ramsey warned that financial institutions have exploited these generations, leaving them with little disposable income. 

"Big Banks have thoroughly convinced Gen Z and millennials that credit card debt is part of life and good for your FICO score," he wrote, pointing to record levels of consumer debt. 

He also criticized car companies for promoting expensive leases and described student loans as an "epic failure" that leaves 18-year-olds with massive debt burdens.

Ramsey urged young people to take control of their finances by eliminating unnecessary debt, choosing reliable used cars over costly leases, side hustling, and paying off student loans. 

"Your economic issues are not proof the American Dream is dead," he wrote.

Affordability Crisis for Two of Our Best Generations

Let's set the record straight on Gen Z and millennials. The stereotypes are wrong. Our company, Ramsey Solutions, has about 1,000 team members, and around 700 of them fall into these two generations. We have been told that…

— Dave Ramsey (@DaveRamsey) December 31, 2025

See Also: Trump’s AI Order Under Fire— Amy Klobuchar Says It’s ‘Likely Illegal’ While Bernie Sanders Calls It ‘Extremely Dangerous’

Ramsey's Guide To Building Wealth

Earlier, Ramsey said people achieve success by learning from those with proven results, not from the advice of broke individuals.

He shared that he became a millionaire by 26 but lost everything and declared bankruptcy, which taught him the importance of understanding money and seeking guidance from experienced, wealthy mentors.

Ramsey added, "broke people are always giving you advice: They’re afraid that you’re going to outpace them because you’re doing smart things with money.", while the truly wealthy focus on habits and character.

He advised a 25-year-old who inherited $200,000 to prioritize careful, disciplined money management over risky investments, emphasizing that lasting wealth comes from smart habits, not handouts.

Read Next:

• Trump's AI Czar David Sacks Supports President's ‘One Rulebook' For The Technology, Warns 50-State Regulatory Patchwork Could Cripple US

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Image via Shutterstock