Writer and radio personality Dave Ramsey has lauded the fresh graduates of 2023.
Moreover, he presents candid advice, urging them to wisely handle the financial circumstances frequently tied with graduation.
In a one-on-one interview, Ramsey shared his insights on the topic with Sara Silverstein, the Editor-in-Chief of TheStreet (see video above).
"As we head into the end of the school year, what advice do you have for college grads when it comes to managing their finances?" Silverstein asked.
Initially, Ramsey bestowed some highly praiseworthy remarks about the new generation of youth stepping into the professional realm.
"You know, this next batch of college grads, and the last two or three batches, are some of the best we've ever seen," Ramsey said. "This particular generation is very serious about their money -- the ones that are responsible and plugged in anyway. And so they've got a lot of opportunity in front of them and they realize it."
He recommended that graduates remain vigilant and give special focus to monetary matters.
"Number one, be very intentional," he said. "Obviously, lay out the standard budget, have a game plan. Big mistakes that college grads make? They immediately feel like they need to go buy a new car in the first six months, like to celebrate graduation or to reward myself for graduating."
"You don't deserve that reward," Ramsey bluntly said. "You don't need a car payment. Let's stay with the hoopty."
Ramsey clarified that his guidance is typically designed to help individuals maintain a realistic understanding of what they can feasibly afford.
"We keep your lifestyle down," he said. "And the second mistake that kind of goes in concert with that is they tend to kick the student loans if they've got them, kick the can down on down the road away. Don't do that. Go ahead and attack that student loan with a vengeance. Drive the hoopty to keep living like a college student."
"Get yourself clear so that you can take that great new income you've got and build wealth," Ramsey said.
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