Crypto hype and sportsbook booms are costing younger investors — and Rachel Cruze is sounding the alarm.
Rachel Cruze, financial coach, best‑selling author and co‑host of The Ramsey Show, told FOX Business that a growing appetite for “quick” wealth — from crypto and influencer‑driven token pitches to sports betting and risky real‑estate plays — is putting young adults’ financial futures in jeopardy. Cruze, who is also the daughter of personal‑finance guru Dave Ramsey, singled out young men as particularly vulnerable.
“One mistake that we see young adults making constantly, honestly, and it’s driving me crazy, is online gambling or quick wins to wealth building — things like crypto or getting into real estate when they shouldn’t,” Cruze said. She added that sports betting is an especially destructive habit for men in their 20s: “You’re throwing your money away to sports betting. … It really is taking down a generation economically.”
Those warnings have data behind them: a Siena Research Institute and St. Bonaventure University Jandoli School of Communication survey found roughly 27% of Americans — and 52% of men ages 18–49 — report having an active account with online sportsbooks such as Caesars, DraftKings, BetMGM or FanDuel.
Cruze pointed to social media as a driver of the problem, with TikTok and other platforms amplifying promises of easy gains through crypto, real estate flips and other “fast‑track” strategies. “You can hear and see on TikTok things about real estate or cryptocurrency,” she said. “If anything seems too good to be true, it probably is.”
Her prescription is steady, low‑drama financial discipline rather than chasing viral tips. “The way of building wealth and becoming financially stable is over a long period of time and doing really boring things that are not exciting and fun, like living on less than you make, getting out of debt and investing,” Cruze said. She warned that younger generations’ craving for instant results clashes with the reality that long‑term money growth takes time: “You want the quick wins, you want the instant gratification, but that doesn’t happen when it comes to money long term.”
Cruze also urged people to resist comparison culture. With social feeds flooded by other people’s promotions, vacations, promotions and homes, she said many young adults feel pressured to spend beyond their means. “You really have to put the blinders on and focus on your life, your career, your money situation,” she advised. “You can celebrate other people if they’re winning … But focusing on your life and being realistic about your numbers is very, very important.”
Her message aligns with Ramsey Solutions’ broader approach, including its “7 Baby Steps” plan for paying off debt, building emergency savings and investing for the future — a contrast to the quick‑flip mentality that has taken hold in some corners of crypto and online betting culture.
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