- Rich dad poor dad cashflow 101 game online for free#
- Rich dad poor dad cashflow 101 game online how to#
It’s a good idea to keep checking your tracker to see how far you are from your goal. For example, if you had $4,000 you could pay off your credit card debt ( liability) and get rid of the corresponding $120 monthly expense. If you have enough cash, each turn you have an opportunity to repay your debts. You can’t do much about the taxes and other expenses, but you do have control over the other payments.
Rich dad poor dad cashflow 101 game online how to#
Related: Find out how to use the financial statements. Dividends are basically regular payments of cash to shareholders – the companies you invest in can decide whether or not they wish to issue dividends. *Note: In real life, you CAN earn passive income from stocks through dividends, but this game simplifies it and there are no dividends for any of the stocks. You CAN buy stocks and hold onto them until you are able to sell them for a higher price later, but that is not passive income because there is no REGULAR flow of money.* Once you sell them, it is just a ONE-OFF gain in cash that you’re able to use to invest in other assets. you’re not earning any money from simply holding on to them). For example, buying stocks does not generate any positive cash flow on a regular basis (i.e. Note that NOT ALL assets will provide passive income. Some examples of assets you can buy include stocks, property, businesses and gold. Throughout the game, you will have the opportunity to buy assets that generate positive cash flow on a regular basis. The word ‘passive’ simply suggests that you’re not actively doing any work for the money to flow in, unlike your job where you trade time for money (salary) and no work = no income. You start the game with $0 in passive income.
The aim here is to get your passive income to be more than your total expenses. The first part represented by the circle in the middle is called the Rat Race, which is also where the most learning happens. 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. Most importantly, the game trains your mindset. 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.
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. 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. It introduces important tools for tracking your finances that you should learn to implement in real life, such as financial statements. 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. 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. This post is gonna be a long one, so you can use these links to navigate: 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.
It allows you to play on your own with just 1 player, though it’s always more fun with friends! You just need to create an account and log in.
Rich dad poor dad cashflow 101 game online for free#
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. Hence, I want to break it down for you so that you can gain enough of an understanding to give the Cashflow game a shot and see what you learn from it. Like… what are assets and liabilities? What’s passive income? 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. If you and your friends are bored at home, why not try the fun and educational Cashflow game? You can learn the basics of managing your personal finances, which I bet you didn’t learn at school. I sure didn’t.Īt first glance, a game about personal finance and investing may seem a little intimidating.
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