Here are some very simple lessons we can learn from a very popular board game.
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The principles of wealth can be extremely simple. You just need to learn them and stick with them. One very famous example comes from a simple board game: Monopoly.
I actually cover this a bit in my book, Live a Happier, Fuller Life, in the chapter on wealth.
About a week ago I was playing Monopoly with some friends. I observed how some of them amassed wads of cash sitting in piles next to the board. Although impressive, that cash was a huge missed opportunity. Others quickly converted all their cash into properties and started making money from rents. That was the lesson. Cash doesn’t make you money, income-generating assets do.
This is exactly the lesson that Robert Kiyosaki learned from his rich dad as he described in his book, Rich Dad Poor Dad. His first lesson in wealth: four houses equals a hotel. The idea is that you grow your wealth by slowly converting your cash assets into income-producing assets. Another lesson you can get from this is that you don’t have to buy the red hotel right out the gate. The other lesson you might take from this is to guard your assets, so they can work for you.
There are two rules of wealth that are basic and important that relate to this lesson from monopoly. These rules are also in harmony with the lessons in the book, Richest Man In Babylon. Here are the two rules:
- Part of what you earn is yours to keep
- Make your money work for you
That’s it. I mean there are many more rules and financial principles, but these are the basics. You keep some of the money you earn and put it to work for you. Following that formula will help you grow wealth.
I love the book, The 4 Laws of Financial Prosperity, by Blaine Harris. In it, it outlines 4 basic principles:
- Track – keep track of your expenses and income, so you know what’s going on
- Target – set financial goals
- Trim – reduce your expenses to increase your surplus (which you then keep and invest)
- Train – keep learning about financial opportunities and principles
So, in review, you need to keep some of your money, make it work for you (the equivalent of buying Monopoly houses and hotels), and keep moving toward your financial goals.
- Financial lessons can be learned from the game Monopoly
- 4 houses buys a hotel
- Move your cash into income-producing assets
- Lesson from Rich Dad Poor Dad
- Rules from The Richest Man in Babylon
- Rule 1 – part of what you earn is yours to keep
- Rule 2 – Make your money work for you
- From the book, 4 Laws of Financial Prosperity
- 1) Track your expenses
- 2) Set a target (a goal)
- 3) Trim your expenses
- 4) Train yourself through financial education
Books Mentioned In This Post*
The 4 Laws of Financial Prosperity by Blaine Harris – (See my review and notes)
Buy “The 4 Laws of Financial Prosperity” Here
The Richest Man in Babylon by George S. Clayton
Rich Dad Poor Dad by Robert Kiyosaki
*These links contain affiliate links. If you use these links, you support promoting personal development concepts and ideas to others.
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