• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

Stop comparing

In previous calls with younger Americans, Ramsey has encountered a sense of envy. He believes it’s an issue that’s being supercharged by social media.

“The problem [is] that … your generation was one of the first ones to really, really struggle with it,” Ramsey told another caller in a previous episode.

He had a similar remark for Nate: “My co-worker has hair and I don’t but it doesn’t really affect me,” he joked.

More than 6 in 10 Gen Zers say they feel some financial pressure to keep up with others, according to a survey commissioned by LendingTree. Over half (51%) of Americans, meanwhile, admitted to spending beyond their means just to impress someone.

Instead of comparing himself with his co-workers, Ramsey believes Nate can make significant progress by working on his own career.

Earn cash back on what you buy most

Maximize your spending and earn up to 6% cash back on groceries, streaming, gas, and more. Whether it’s everyday purchases or splurges, this card puts money back in your pocket.

Learn more

Perseverance

Nate graduated in 2020 at the height of the COVID-19 pandemic with degrees in marketing and management. He has since struggled to find a marketing job and has settled into a job as a leasing consultant for a property management firm.

His hefty debt load has strained his finances. As of June 30, around 870,000 Americans between the ages of 25 and 34 have student loan balances over $100,000, according to Federal Student Aid data. Ramsey believes part of Nate’s unfortunate situation is the result of false promises about what a college degree can do.

“You were lied to when they told you that getting the degree was going to make it easy,” Ramsey explained. “It doesn't make it easy, it just puts a tool in your belt. You just have a big old hammer, but, buddy, you’ve got to get calluses swinging the hammer.”

The best way to start swinging the hammer is to take advantage of his degree and get an entry-level job in marketing. Co-host George Kamel says he started as an intern at Ramsey’s company, Ramsey Solutions, before working his way up.

Ramsey added: “I'm going to encourage you to do, as the old guy in the room, to persevere and really lean into this and go, ‘Okay I'm going to lay out a five-year game plan where I'm making $150,000 a year as a world-class marketer five years from now.’”

It doesn’t matter how old you are, Ramsey noted, you’ve got to learn to adapt and lean into current-day trends.

Sponsored

This 2 minute move could knock $500/year off your car insurance in 2024

OfficialCarInsurance.com lets you compare quotes from trusted brands, such as Progressive, Allstate and GEICO to make sure you're getting the best deal.

You can switch to a more affordable auto insurance option in 2 minutes by providing some information about yourself and your vehicle and choosing from their tailor-made results. Find offers as low as $29 a month.

Vishesh Raisinghani Freelance Writer

Vishesh Raisinghani is a freelance contributor at MoneyWise. He has been writing about financial markets and economics since 2014 - having covered family offices, private equity, real estate, cryptocurrencies, and tech stocks over that period. His work has appeared in Seeking Alpha, Motley Fool Canada, Motley Fool UK, Mergers & Acquisitions, National Post, Financial Post, and Yahoo Canada.

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.