Why is it that so many millennials like Dave Ramsey when we're "new age" and he's so old school? Well, I've got a few theories...

10 Reasons Why Millennials Like Dave Ramsey’s “Old School” Method

I got my first subscription to Money magazine (something I have been wanting for a few years now.) Imagine my excitement when I saw my favorite financial guru, Dave Ramsey on the front cover. The title read something like, “Why Millennials are Flocking to Dave Ramsey.” I read the article and really got to thinking…why is it that Dave Ramsey has gained such popularity and momentum specifically with my generation, the millennial generation? Dave Ramsey is known notoriously for his no-nonsense, old school approach, yet millennials are thought to be very “new age” and technologoy obsessed. Well, call me crazy, but I’ve come up with 10 reasons as to why millennials like Dave Ramsey’s old school ways…or at least why I know I do.

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Millennials Remember “Old School”

People are so quick to judge millennials as being those people who always have their nose stuck into their smartphones. It’s assumed that we don’t know how to do hard work like they did in the “good old days” and thats, well, kind of true.

Most millennials were born when playing outdoors until 9 pm without adult supervision was still acceptable. We remember the freedom we had and how much fun it was to play in the mud.

In fact, half of millennials were born before the first text message was even sent.

I didn’t get my first cell phone until I was 16 and driving and I had to pay for text messages then…so it was very rare that I even used that feature.

Millennials (in my opinion) were blessed in the sense that our childhoods were untainted by technology, yet we were able to grow up benefiting and learning from all that technology has to offer. This gave us a head-start in the developing world of technology. But make no mistake, most of us still remember the good old days before the technology even existed. I think this plays a huge part in why so many modern millennials like Dave Ramsey and his old school approach to finance. Because we’re a little old school too.

Millennials pay more for student loans

Most millennial’s parents and grandparents encouraged them to go to college. In fact, a lot of millennials are the first people in their families to actually attend college.

However, the increasingly high cost of college was not something millennials were warned about.

Paying for college in the 1980s was 1/3 the cost that it is today. So many millennials had families with good intentions encouraging them to go to school. Unfortunately, many of those same family members didn’t really understand student loans, payment plans or the rising cost of schooling.

Now that we have a whole generation of well-educated people struggling to pay off the debt of their education, we need that “father figure” to tell us how in the world to get out of it.

No one else taught millennials this stuff

From 1960 to 2012 the percentage of families with 2 working parents has risen by 45%. Now, I will never speak down on women in the workplace or the appreciation I have for the parents I had working hard to provide for me every day, but I definitely think this affected the majority of millennials in both good and bad ways.

While older generations had a strong home life and parental guidance, the millennial generation often grew up in daycare centers, schools or even home alone. Parents were out working but unfortunately, millennial kids weren’t always seeing that hard work first hand.

Home economics was taught less and less and replaced by computer classes.

Budgeting, taxes and home cooked meals took a back seat to calculus, computers and chemistry in most schools.

It’s not that millennials didn’t want to benefit from good finances, it’s just that we were often not given the tools first-hand. Millennials like Dave Ramsey because taking FPU is like taking that class in high school we never got.

Plus, Dave Ramsey’s program, FPU has several easy access online budgeting tools, like the EveryDollar budget to help millennials manage their budget without all the guesswork.

Debt has been normalized for millennials

On top of lacking skills in basic math and home care, millennials often grew up hearing that debt was normal.

Our parents used credit cards, refinanced their homes, got new cars and encouraged us to do the same in order to “improve our credit.” It’s only now when all of these bad financial practices pile up on top of the high cost of student loans and the cost of living that we are truly seeing the damage being done.

Millennials like Dave Ramsey with his “fatherly voice” preaching methods we haven’t heard yet and telling us credit scores don’t really matter that much.

Millennials want freedom

Like I said, millennials, remember the days of playing in the mud fondly. After getting a taste of corporate jobs, major debts and the higher cost of living, they are seeking that childhood freedom more and more.

I personally believe this is a huge reason why the minimalist movement appeals to so many millennials. We’ve seen what it’s like to have it all…and it wasn’t all that great. Many millennials are seeking the simple life that financial freedom through Dave Ramsey’s teachings.

Impatient millennials don’t want BS

Because millennials grew up right alongside technology, we have learned to want things quickly. We can order dinner at the touch of a button, get a ride without calling a cab, break up with our significant other without actually having to speak to them face to face. (LOL…that’s totally a joke…also we invented LOL.)

In a world where we can get anything we want quickly, we don’t want to waste time with nonsense or BS. We want that magic miracle fix. Dave Ramsey’s Baby Steps are anything but instant results, but the way he informs millennials is very cut and dry. And we appreciate that.

Millennials want to be wealthy

Whether it’s to have that big house with the pool or to travel the world, millennials want to be wealthy. Just like every generation before us.

Millennials like Dave Ramsey because he promises real wealth. Not the kind of wealth where we are in debt until the day we die, but actual financial freedom. Who wouldn’t hop on board for that?

Millennials believe they can do anything

A lot of millennials grew up with parents telling them they could be anything they wanted. We grew up believing in possibilities. Because of this, most millennials are actively working to pursue their dreams and they don’t want anything standing in their way.

That might mean heading back to school to get a master’s degree, starting our own business or climbing Mount Everest.

All of these dreams require money and Dave Ramsey is dishing out the exact steps we need to get our hands on that money.

See more of Dave’s best practices:

Millennials need it dumbed down

For years I have wanted to improve my financial situation but had no idea how. I needed someone to give it to me straight and make it as simple as possible. Enter: Dave Ramsey and the Baby Steps.

When I have 3 kids to take care of, an online business to run, side hustles and a husband, I don’t really have time to research, read and try to decide with financial guru is going to steer me in the right financial direction.

Okay…I want to be debt free…but how? Dave lays it out in 7 easy to follow steps with no grey areas. Just what us busy millennials need.

Millennials are learning to rely on themselves

With 2 working parents, advancing technology, living through recessions and seeing their parents financial struggles firsthand, millennials have taken notes and realized they we want something done, then they most likely will be doing it themselves.

The majority of millennials don’t have wealthy parents to rely on, talk of no social security and very little training in the art of smart finances.

Well, I guess that means we need to roll up our sleeves and figure this thang out on our own, right? Dave Ramsey’s course Financial Peace University gives millennials the tools but let’s them know, they need to do the work.

And we’re okay with that.

More financial resources

  • Dosh – Dosh is an app that links up to your credit cards (or qualifying debit cards) and gives you money back on purchases you make. It works like other cash back apps by refunding you money on qualifying purchases only you don’t have to keep track of anything! Get $5 for signing up!
  • CD – By putting money into a CD with CIT Bank you can earn up to 2.5% interest! See all available options.
  • High yield savings account – Open a high-yield savings account CIT Bank and get a 1.55% return on your investment.
  • Money market account – Open a money market account with CIT Bank to get a 1.85% return on investment.
  • Savings Builder – Get up t a 2.45% interest rate with CIT Bank by depositing only $100 per month into a Savings Builder account!
  • The Fun Sized Budget Bundle – I created this budgeting bundle to be crazy easy for anyone who struggles to understand finances like I used to. All the worksheets are laid out very simple and don’t have a lot of “extras.” Get the bundle now.
  • Simplify + Planner – This amazing planner and organizer combo helps you keep track of all your important dates and more. Plus, you can customize it to exactly what you need! See the available options!
  • Trim – This app takes a look at your spending habits and instantly finds different areas where you could be saving money! See where you could be saving.

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