If you and your friends are bored at home, why not try this fun and educational game? You can learn the basics of managing your personal finances, which I bet you didn’t learn at school. I sure didn’t.
At first glance, a game about personal finance and investing may seem a little intimidating. I’ve previously talked about how I learned to get comfortable with debt through the game and if you read that post you may see some unfamiliar terms. Like… what are assets and liabilities? What’s passive income?
Hence, I want to break it down for you so that you can gain enough of an understanding to give this game a shot and see what you learn from it.
You don’t have to worry if you can’t get your hands on the board game because you can play the online version for FREE here: https://www.richdad.com/products/cashflow-classic. You just need to create an account and log in. It allows you to play on your own with just 1 player, though it’s always more fun with friends!
Somehow, the online game doesn’t provide instructions on how the game actually works (???) so you can refer to this post as your handy dandy guide.
This post is gonna be a long one, so you can use these links to navigate:
- Why should I play cashflow?
- What’s the aim of the game?
- What are the key aspects of the game?
There will also be links throughout the post so if you click on one and want to go back to the original section you were at, just click on the back button in your browser.
Why should I play cashflow?
If you really need a reason to play a game, let’s just say that this one can have profound impacts on your life and how you manage your money. It introduces important tools for tracking your finances that you should learn to implement in real life, such as financial statements.
It also allows you to experiment with certain behaviours that you may not have tried in real life (investing in the stock market, buying property etc.) in a risk-free environment where you can learn what works and what doesn’t.
The way you play the game tends to very closely reflect the way you act in real life, so it provides valuable insights on what you do and don’t know. I’ve found it to be a great simplistic introduction to important concepts and you can go on to do your own research on how they work in real life.
Most importantly, the game trains your mindset. People often find that they see possibilities whilst playing the game that they’d never have been exposed to because they have limiting beliefs, a lack of confidence or a lack of knowledge.