TMM: Mutual Fund Fun (?)

Chad and I were reading the Total Money Makeover (TMM) book again last night.

Remember how I had mentioned that having a spouse who works in Finance makes for an interesting time reading this book?

Ummm...yeah...about that...

Last night, Ramsey wrote that instead of going into debt over buying a car, you should save up enough to purchase a lower value car, save up again and trace that car in and with the two get a better car, etc.

He cited how if that money was put in a mutual fund gaining 12% interest, you would make "x" dollars rather than paying interest.

At that point, Chad stopped me from going on and gave me a several minute lecture on how he was going to have to do more research on that number to see what the current going rate was.

He then proceeded to discuss rate of inflation vs. rate of interest gained, average rate of money gain over the years the money sits in the mutual fund, and some other stuff that I don't totally remember because I am pretty sure my eyes glazed over when I heard the term "mutual fund."

Just kidding, Chad!

....well...mostly kidding...

I am really giving this thing my best effort.

However, if there's one thing I have learned through my 4 years at college that only got me a two year degree (and the debt that we are reading this book to help pay off!), I am a "do-er".

And Chad is a learner.

So he is probably loving the theory behind all of Dave's teaching, however, I am not so much a fan of this part as I am sure I will be of the "okay this is how we practically put this into action" part.

But we are still reading on and putting our very best effort into it!