Cashflow
Cashflow- Definition
It is also a game that Robert Kiyosaki created.
The purpose of the game is pretty simple. You are a worker that is assigned a specific job (doctor, teacher, lawyer, etc...) you receive a paycheck, you have credit cards, and you roll the dice to see how many spaces you move. Depending on what square you land on, you can make decisions on what types of investments to make. You can buy houses, stock, and other businesses. Every time you make a transaction, you have to update your balance sheet in terms of income, expenses, assets, and liabilities. Throughout the game, you learn about your balance sheet and the impact that different decisions can have on your life via short videos that explain your choices.
The goal of the game? To get out of the rat race by purchasing investments that increase your 'passive cashflow' to the point where you no longer have to work. Once you achieve this goal, you get 'out of the rat race' and move to the 'fast track' where you can travel the world, donate to charities, and other accomplish the 'dream' that you chose in the first round of the game.
The game is pretty interesting in the sense that it teaches financial literacy in a manner that anyone can understand. I played the game with both of my sisters, who aren't major financial dorks like me, and they were able to gather the concepts rather easily.
Good debt (makes you money by acquiring an asset) vs. bad debt (fancy dinners and speedboats that you purchase with your credit card)
Assets vs. liabilities
How a balance sheet works
All of these concepts are presented in a simplistic way that anyone can understand.
I really liked the game because it showed me how to explain basic financial ideas in a straightforward way.
I'd recommend checking out the game. It is a little expensive (~$90) but you can play the game as many times as you want and the knowledge presented is just as good as a $300 seminar and the best part? Your teacher isn't an ivy league graduate talking about how you should be like him, your teacher is a cartoon rat dressed in a suit with a worrisome turtle sidekick that blurts out phrases like "GOOD JOB!" and "I think I woulda passed on that one"
You can purchase the game here
Until next time,
Thor
It is also a game that Robert Kiyosaki created.
The purpose of the game is pretty simple. You are a worker that is assigned a specific job (doctor, teacher, lawyer, etc...) you receive a paycheck, you have credit cards, and you roll the dice to see how many spaces you move. Depending on what square you land on, you can make decisions on what types of investments to make. You can buy houses, stock, and other businesses. Every time you make a transaction, you have to update your balance sheet in terms of income, expenses, assets, and liabilities. Throughout the game, you learn about your balance sheet and the impact that different decisions can have on your life via short videos that explain your choices.
The goal of the game? To get out of the rat race by purchasing investments that increase your 'passive cashflow' to the point where you no longer have to work. Once you achieve this goal, you get 'out of the rat race' and move to the 'fast track' where you can travel the world, donate to charities, and other accomplish the 'dream' that you chose in the first round of the game.
The game is pretty interesting in the sense that it teaches financial literacy in a manner that anyone can understand. I played the game with both of my sisters, who aren't major financial dorks like me, and they were able to gather the concepts rather easily.
Good debt (makes you money by acquiring an asset) vs. bad debt (fancy dinners and speedboats that you purchase with your credit card)
Assets vs. liabilities
How a balance sheet works
All of these concepts are presented in a simplistic way that anyone can understand.
I really liked the game because it showed me how to explain basic financial ideas in a straightforward way.
I'd recommend checking out the game. It is a little expensive (~$90) but you can play the game as many times as you want and the knowledge presented is just as good as a $300 seminar and the best part? Your teacher isn't an ivy league graduate talking about how you should be like him, your teacher is a cartoon rat dressed in a suit with a worrisome turtle sidekick that blurts out phrases like "GOOD JOB!" and "I think I woulda passed on that one"
You can purchase the game here
Until next time,
Thor
posted by Thor @ 8:02 AM
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