helping you save cash

Monopoly Money Lessons

I was amazed, but probably not too shocked, that Monopoly has brought out a cashless version. An edition where you get ‘bank cards’ and a card reader instead of paper cash. Whilst this eliminates that potential cheating, usually from the Dad (I can say that now, I am one!) it got me thinking that it seems like another step to a cashless society. It also got me wondering what other lessons we can learn from the iconic board game.

You might be tempted to blow all your money on property, but what happens if you then have to fork out for landing on someone else’s hotel? Having an emergency fund both in monopoly and in life in integral. What if you lost your job, got hit by a bus, had an unexpected car bill, you get the idea. We try and keep six months to a year’s worth mortgage payments and bills aside, just in case.

Monopoly is about making deals, negotiation. Do people want to make a deal with you? Why do they? Why don’t they?  Don’t be too heavy in your negotiations, but don’t be a pushover. These negotiations skills can roll over into real life. From our younger years negotiating with our parents about how much pocket money we should get to perhaps business meetings and important financial deals with clients when we’re in a career. Negotiation is a key skill in life.

Luck is also part of the game and part of life. It’s all about rolling the dice. Sometimes you’ll get the number you want, sometimes you won’t. Other player’s luck might be in that day and you need to learn to live with that because we cannot control everything, in games and in life. Decide to take opportunities, or turn them down. Whichever you do stand by your decision and have no regrets and as the saying goes, try to make your own luck.

Invest & make improvements to get to where you want to be. Buying a property and sticking one house on it might not get the most out of the property, but adding a hotel or two might. Work to make what you do have work for you before moving onto the next thing. This might involve investing in yourself too, new equipment, new skills, new experiences!

The saying says no risk, no reward. Whilst we’replaying Monopoly, not Risk, there is risk involved in the game. Perhaps that’s why there’s a chance card which we have to pick up now and again. If you don’t take risks you probably won’t win, but don’t be fooled that your risk will always pay off. Don’t risk things if you aren’t prepared to lose. In life, we do take risks and they help develop us and mould us into the people we become.

 

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