Monopoly is a board game known worldwide. The purpose of the game is to become the richest player by buying, renting and selling real estate. It is a game in which real estate is traded both for learning through play and for fun. If you play the pleasure game you will realize in a short time that it offers you many wise lessons that can be applied in the world of finance and investment. Below you will find 6 valuable lessons that will help you win the game and better understand the principles of financial prudence and investment.
Always have access to cash. In the game as well as in real life, in addition to the purchases you make, you must always pay attention to the cash flow so that you have easy access to your financial resources in order to pay your debts and unforeseen expenses that may arise. . If you get in the situation of running out of cash you have to capitalize on the assets held at prices below their real value, which will be to the benefit of those who will have cash at that time.
Be patient. Do not rush to buy everything that comes your way, just because you allow yourself to do that at that moment. You must have a well-established plan from the beginning and you must respect your strategy with patience until the right opportunities arise.
Focus on the cash flow. The best investments are those that bring you a constant cash flow. In addition to the investments you make, you must also pay attention to the cash flow that ensures your financial stability. You need to take into account both the expenses of maintaining the assets you own and the taxes and fees you have to pay in order to continue your investment activity.
Not all assets are worth the cost. Those who win are those who invest in the long term, and prudent decisions to own the property is the sure way to financial success. The value of the properties, both in the game and in real life, varies according to many criteria, so you must know how to evaluate them before making the decision to purchase them.
Learn to be a good salesman and negotiator. During the game you will learn how to buy, sell and trade, skills that are useful to you both in your financial life and in your personal and professional life.
Don’t put all your eggs in one basket. The last but not the last lesson of both the game and the investments is to vary the investments you make to increase your chances of winning.
Use the financial lessons Monopoly offers you to guide you in the investment world and remember that educational games are a great way to spend your free time and learn at the same time. However, the results of this game are also influenced by luck, so the lessons learned must be applied regardless of whether we won the game or not. Although it’s just a game, Monopoly teaches children financial concepts such as owning real estate, prices, demand and supply, mortgage, bankruptcy, financial management, taxes and taxes. Monopoly is not the only game we can play as a family or with friends who teach us how to manage our finances and invest.