When Rachel Crews recently discovered a statistic, she couldn’t wait to share it with her father, Dave Ramsey, on camera on an episode of her radio show.
Mr. Cruz, who is known for his candid and skeptical approach to financial advice, seems confident that Mr. Ramsey, a baby boomer, will have a strong reaction to the important findings detailed in this story. was.
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The statistics in question are taken from the CNBC article, Cruze. explained, a study by Cash App Taxes reported that one in four Gen Z tax filers “need a therapist to help them deal with the stress of filing taxes.” Additionally, 54% have cried while filing their taxes in the past or expect to cry while filing their taxes this year, he continued.
Mr. Cruz may have expected Mr. Ramsey to have kind words for these young people, but when he instead responded that he was “calling BS about the investigation,” his response was that she It seems that he was surprised.
“The research shows that this whole generation is a bunch of troublemakers,” Ramsey said in a clip from the show. “That’s not true. That’s not my experience with Gen Z.”
In fact, Ramsey says that if there’s any generation that needs better economic health, it’s his generation: baby boomers. Here are some money lessons he thinks older adults can learn from younger generations.
Taxes are universally hated.
Returning to the topic of tax anxiety, Ramsey admits that he doesn’t like filing taxes either. It’s just that he has a different reaction to his experience.
“I don’t cry, I get angry,” he says. “I’m always angry when it comes to April.”
Emotions run high around tax time is common across generations, with 64% of respondents of all ages reporting this. report Tax season “brought a level of stress into their lives.”
One thing Gen Z is doing right is planning to move forward past these tax concerns. Sure, going to therapy may seem extreme, but there are other ways to actively manage this stress.
For example, you can learn about the tax process. Most people’s taxes aren’t that complicated, so step by step process It may help you do them with confidence.
If you’re still stressed about paying your taxes, seek help. Accountants are experts in this field and can do the heavy lifting for you.
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financial transparency
The Ramsey Show is primarily a phone show, and people call in for financial advice. Ramsey listens to people of all ages, from Gen Z to the Silent Generation. And boomers are often the most difficult to talk to, he says.
“The baby boomers come along and they lie. They fake it,” Ramesy tells Cruise. “They care so much about what you think that they pretend to be chameleons. They’re donkeys dressed like thoroughbreds.”
Millennials and Gen Z, on the other hand, have no reservations when making phone calls.
“They are who they are,” Ramsey says. He added that many young people are “very mature, very serious, very focused, very mission-oriented.”
This may be because younger generations are more likely to speak openly about their challenges. A 2023 YouGov survey found that 35% of Gen Z and Millennials received mental health treatment in the past year, compared to just 8% of baby boomers who received similar treatment.
Treatment extends to the financial side as more Americans seek help. economic therapy Dealing with money, life’s biggest stressor, according to recent American Stress Survey investigation From the American Psychological Association.
Ramsey himself is among the boomers who preach this kind of fiscal transparency. He himself has long been open about his bankruptcy and poor financial decisions.
His entire show is based on talking candidly with people about their financial situation. Ramsey says on his own website: “It’s time to face the storms of life head on.”
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This article is for information only and should not be construed as advice. PROVIDED WITHOUT WARRANTY OF ANY KIND.
