Investing

How Monopoly Board Game Taught Me About Money

Monopoly board game has been around for a long time. The game is so popular that probably almost every household in America own one. Although it is only a game, I learned a few things from it that can be used in real life.

1. Monopoly Taught Me About Budgeting.

In the beginning of the game, you were given a certain amount of money. Depending on your strategy, you either go on shopping spree and buy whatever your dice led you and be broke in a short time.

From what I have learned, you have to prioritize your target first and make a budget for it. So, instead of buying whatever you can buy, you should wait until your dice leads you to the one spot that you really want. You want to make sure you have the money/budget to buy it. The key is not too overspent in the beginning.

2. Monopoly Taught Me About Investing

Buying properties in Monopoly taught me about the value of having assets. Liquid asset such as cash won’t get me anywhere further. Invest some money in Properties to collect rents let me increase my net worth.

Same thing applies in real life. There is nothing wrong on being frugal and debt free. But, if you want to move forward, you have to be brave and take some risk – calculated risk!

3. Monopoly Taught Me About the Existence of Authorities

This is a sad truth. Whether you like it or not, taxes must be paid. It’s not part of your budget, and the government always has the first dip on your paycheck.

Winning the game is like winning in your financial management. If you are successful, you will have the control of the game.

I hope this short post enlighten someone’s day. Feel-free to leave a comment with any thoughts about this. What have you learned from Monopoly?

Cheers!

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