What advice would Jimmy Wales give to the young generation?

I think one of the most important pieces of advice I can give young people is that you should try to arrange your life in such a fashion that you minimize your consumption expenses as much as is practical so that you take on as little debt as possible.

Why?

If you want to do something interesting with your life, you will need a certain degree of financial independence, by which I mean, the ability to make choices without thinking about the immediate money involved.