Jan 29 2010
Are you having money sense?
Have you ever thought about your spending habits, wealth management awareness, and checked your investment knowledge.
It’s interesting but true, there is a board game called cash flow game which will open your mindset regarding issues of your financial life.
My friends don’t think that I am suggesting this game for your kids in parenting section.
This game is for you all to play with your friends. Many women group like to play games of cards, bingo, crossword and other board games. This game is also just like other board game but it involves money into it. Don’t be afraid as when money comes in between people tend to have fear to loose it. But this money is not your real money. You have to play your instincts with whatever money is provided by the banker of the game.
As wekepaedia describes-“ Cashflow 101 is an educational tool in board game format designed by Robert Kiyosaki(author of Rich Dad, Poor Dad),which aims to teach the players concepts of investing by having their money work for them in a risk free setting (play money) while simultaneously increasing their financial literacy and stressing the imperative nature of accountability.”
The interesting feature of the game is that it is played in two steps. First step is ‘Rat Race’ and second step is ‘Fast Track’. In rat race the player aims to raise his or her passive income level so that it can exceed the character’s expenses. In order to win the game player should get her character to buy their dream or accumulate an additional $50,000 in monthly cashflow, and this happens only in second part of game that is fast track. While playing the game players have to fill the financial statements so that they can see clearly what is happening with their money.It generally shows how assets generate income and demonstrates that liabilities are expenses. There is also a kid’s version of the game called cashflow for kids.
You do not have to be an accountant to play this game, as the calculations are very simple. The idea of the game is to purchase enough cash flow positive assets to exceed your everyday living expenses. You can do this buy purchasing cashflow positive properties, businesses mutual funds and shares. As you work your way around the board, you land on different squares, examples being “paycheck” (where you receive your monthly paycheck depending on your profession) or though you do not have to land on this square to receive your income, just passing it will get you paid.. another example square is “opportunity” where you will be presented with investment opportunities such as businesses, property shares mutual funds etc. Another example square is “doodads” these are unexpected expenses that are often unnecessary and require you to spend your money..for example “Buy Big Screen TV, Pay $4000″ Once you have accumulated enough assets to generate a passive income that exceeds your living expenses you are able to leave the rat race and play on the “Fast Track” the outer circle of the board game. Once you are out of the rat race and on the fast track, your goal is to buy your dream which you select at the start of the game. A few examples of the “dreams” are “golf around the world” , “be a jetsetter” , “dinner with the president” and so on.
Abang Abu, an entrepreneur, founder of Now Asia, is quite known for his trainings and financial courses is Singapore and Malaysia. . He has a deep commitment towards young people’s success in entrepreneurship and financial intelligence.
He loves to arrange for cashflow game, if to be played in a big group. This game can be organized in any network for eg communities, office groups, friends group, schools, colleges and other places.Know more about him by visiting www.abangabu.com and www.nowasia.sg
Enjoy playing this money game!