WATCH: Dave Ramsey Exposes How Inflation Has Created “A Legitimate Problem” for Many Young People

Speaking to Fox Business about work ethic and personal responsibility, personal finance guru Dave Ramsey explained both how he has taught his children the value of hard work, something that carried over into their finding spouses, and how the inflation gripping the country has caused significant problems for young people.

The comments on inflation came when Ramsey, after speaking about work ethic and his children, noted that he thinks many members of Gen Z, the generation currently finishing up school and entering the work force, is “amazing” and “powerful.” He also explained that many in that generation “have a legitimate problem today.”

Explaining why that is the case, Ramsey noted that wage increases have not kept pace with inflation, and the housing market’s continued strength means they’re having a hard time buying a house. He said, “Their wages have not kept up with the house price increases, and for today, they’ve been boxed out of that housing market because it just took off. They have a lot of anxiety around that that is legitimate.”

Continuing, Ramsey noted that he faced a similar problem when he was a young man, as he was also “boxed out” of the housing market when American interest rates rose to a whopping 17% during the fight against inflation under Carter and Reagan. However, he reminded viewers, that was only temporary, and things turned around eventually.

Speaking about changed conditions, he said, “Your life is not a snapshot. It’s a field. It’s a filmstrip. It’s going to be another frame, and another frame, and another frame, and another frame. And so as you go along, there’ll be a moment in time when this turns around in your favor and you’ll be okay.” He added, “You’re going to get there, but today it sucks.”

Also, during the interview on Fox Business’s “Cavuto: Coast to Coast,” Ramsey spoke about building a work ethic in his kids, saying, “It starts early.” He added, joking about getting them to jobs, “We taught them to work, it’s an old-fashioned thing. I think it’s called child abuse now. But they had to work, all of them, and they all developed a work ethic.”

Building on that and further explaining his children’s work ethic, he said, “Rachel, my daughter… she’s on your show quite often… she works really hard, and all three of them do. They married people that are hard workers because they don’t have any respect for people that don’t work hard and they’re not victims.”