Knowing the basic concepts of financial management – including budgeting, how to generate passive income, debt reduction, and investing – is essential for anyone who wants to live within their means and retire comfortably one day.Unfortunately, many of us go through childhood and early adulthood with a very vague idea about how money works, and it takes the harsh realities of debt and constant cash flow problems to teach us the fundamentals of financial management the hard way – but this doesn’t have to be the case.
If you have children or other relatives who you’d like to educate about financial matters, you’re probably wondering how to do so without boring them or coming across as the family know-it all. Fortunately, the Cashflow 101 board game by Rich Dad, Poor Dad author Robert Kiyosaki is the perfect way for all members of the family to learn about financial planning while having a great time.
Making money matters fun
Albert Einstein summed up the learning process when he wrote, “You learn the most when you are doing something with such enjoyment that you don’t notice that the time passes.” Though few of us may have Einstein’s genius, the truth of his words lies at the heart of Cashflow 101.
You and your family will enjoy playing this game, which is something like Monopoly but with a practical twist – the concepts of Rich Dad, Poor Dad are all part of this entertaining board game.
Escaping the rat race
During the first phase of the game, the focus is on escaping the Rat Race. Players take turns to increase their passive income until it exceeds their monthly expenses – this is a fundamental step in wealth creation.
Once this first objective has been met, the game continues with its second phase, the Fast Track. This is the time for players to build their wealth in leaps and bounds by accumulating bonuses and boosting their net worth.
Life skills for the whole family
Cashflow 101 is a board game for the whole family. Kids will learn the basics of wealth creation to use later in life, while adult members of the family will learn a thing or two themselves – these lessons can be applied immediately to the family finances.