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Do you play monopoly? Then you can create wealth



This exposition on Monopoly, the popular board game was inspired by Prince Al-waleed Bin Talal, the richest Arab in the world, with a net worth of Thirty Billion Dollars. In his autobiography, “Alwaleed: Businessman, Billionaire, Prince” the Prince had a ritual of playing monopoly with his cousin for one hour daily while growing up. The secret to success can be found in what the successful do daily and monopoly was clearly one of the activities he invested his time into that helped him on the road to wealth.

Initially invented in the U.S at the beginning of the twentieth century it was originally known as the Landlord’s game before it was changed to Monopoly. According to Wikipedia the game’s objective is for players to move around the game board buying or trading properties, developing their properties with houses and hotels, and collecting rent from their opponents, with the goal being to drive them into bankruptcy.

Financial experts the world over have dissected and analyzed the game and have declared it to possess loads of benefits that can positively impact the personal finances of its players. We present ten of these benefits below:

First, Monopoly teaches you to diversify. All players start the game and move around the board with the same initial capital to purchase property which other players will pay rental income on when they land on it. The best chance to earn reasonable income is to invest in varied properties and earn returns. This is a strategy used by the wealthy that do not put all their investment eggs in one basket.

The importance of owning and acquiring assets is emphasized throughout the game. Assets can be simply defined as anything that brings income to its owners. The winner is the one whose assets continue to produce more income than he spends. The same is true about life. You require asset ownership to produce wealth.

Planning for emergencies by keeping funds aside is also essential in monopoly and in life. The game provides for Chance and Community Chest Cards where players might be required to pay penalties or even go to jail. These circumstances are outside of the players control but he or she must be prepared for them. This is why money experts recommend having an emergency fund made up of six months’ living expenses.

In order to move around the board continuously every player needs to plan their expenses. There is the likelihood of rolling the dice and landing on your opponent’s property where you need to pay rent with cash. A player may be declared bankrupt when unable to pay thus having to sell property to offset the debt. This means the need for budgeting is essential thereby causing you to make decisions not to spend all the cash inflow. Working with budgets helps one to better track where your money is going so it can be better employed to build wealth.

Fifth, movement across the board is by rolling the dice, an activity that can have positive or negative outcomes such as movement so you don’t land on another player’s properties or vice versa. This represents what life is all about. At times you will have good and bad outcomes occasioned by life’s circumstances. You had better deal with it and avoid agonizing about what you cannot change.

The commencement of the game also throws up a distinct benefit. All players start at the same point with the same amount of ‘Monopoly money,” which is around One Thousand Five Hundred Dollars. As the game progresses some player’s incomes rapidly deplete while others are able to multiply theirs. This is very true of life, many people may start at the same level but over time those who understand finance and wealth building will end up financially free while others will continue to struggle.

Monopoly exposes you to competition and opposition, which is something you will encounter throughout your life as you aspire to build wealth. You are likely to compete to take advantage of opportunities with others who are also ‘players’ in the game of life. Success is guaranteed by outthinking or moving ahead of others in order to grasp and take full advantage of opportunities

Relating and interfacing with others while playing the game is another essential attribute in order to win the game. Players need to negotiate, propose and work with opponents sometimes to achieve their objectives. This is very true in personal finance. At every point in time we need other people to assist or favour us in order to achieve our objectives.

Ninth, passive income is key to wealth. By purchasing properties and assets and collecting rent on them you can continually build wealth. Passive income involves earning continual income long after the asset or activity to create the income stream has been concluded. For instance you continue to earn income on your properties in Monopoly long after purchase has been concluded. This is a winning strategic mindset that can be applied while attempting to create wealth. Lastly, while playing the game an element of luck is required while throwing the dice which determines where you are to land on the board.

No matter the amount of preparation and strategizing, sometimes luck can play a big part in winning the game as in life. You need luck to be at the right place at the right time with the requisite resources to take advantage of opportunities to produce wealth and fortune.

Monopoly is a great way to teach your kids about personal finances but it is also highly recommended for adults, majority of whom were not taught anything about money while growing up.

Games are usually very astute ways to get people to learn through fun and entertainment and I wholeheartedly endorse your investment in a copy of this highly beneficial board game. This is the time to reduce idle time spent watching television or the kids playing video games; the whole family can then come together to spend time playing monopoly. Believe me, the time spent playing monopoly with friends or family is time well spent. This activity can seriously boost your wealth building capabilities in the near future.


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  1. naughtynot

    May 4, 2015 at 5:42 pm

    Reiterates my point…that success is a by product of doing the right thing consistently. Our habits makes us.

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