Cashflow 101 game new how to#
In the end, you learn how to make the best financial decisions which is a very important lesson. The game also gives players an opportunity to try out different strategies. The game shows how costly bad mistakes can be in the future. The game teaches you the power of wise decision making: Progress in the cashflow 101 game is dictated by the kind of decisions you make as a player. This is Kiyosaki’s way of teaching people that your current position doesn’t really dictate your financial future.Ĥ.
Cashflow 101 game new professional#
The game teaches you that you can become successful regardless of your current financial position/job: The cashflow 101 board game can be won by any professional i.e. This teaching is very important when you want to achieve financial success in life.ģ. Liabilities are things that take money away from you. According to Kiyosaki, an asset is anything that generates money for you. Through his Cashflow 101 board game, Kiyosaki adjusts the meaning of assets and liabilities giving a more accurate definition.
Liabilities on the other hand are what a person owes others. Traditionally, the term asset refers to anything of value. The game teaches the real difference between assets and liabilities: It’s also important to note that many people go through life with a vague understanding of the difference between an asset and a liability. Such knowledge goes a long way in helping you manage your money.Ģ. filling out a personal financial statement. Kiyosaki’s Cashflow 101 board game teaches some of the most important personal finance basics i.e. Most people struggle all their lives because of lack of basic financial knowledge. The game introduces people to personal finance: Let’s face it. What Cashflow 101 Will Help You Understandġ. The 1st player to attain a passive income of $50,000 or achieve their dream is declared the winner. With every turn, players have the opportunity to increase their passive income and eventually achieving their dream. After a player manages to build up passive income that exceeds expenses, that player automatically exits the rat race and enters the fast track. Audits are conducted by other players to ensure everything is updated correctly.Ĭashflow 101’s other objective is achieving your dream.
Cashflow 101 game new update#
Each decision triggers an update in every player’s financial statement. With each turn, players have a chance to make crucial decisions which impact on their income statement. Each player will then take turns playing landing on any of the following tiles doodads, opportunity pay check, charity, baby, downsized or the market. The professions included are engineer, teacher, business manager, mechanic, lawyer, secretary, janitor, nurse, airline pilot, police officer, doctor and truck driver.Īfter each player has chosen their preferred profession, they transfer their information i.e., assets, liabilities, income and expenses to their income statements. Expenditure stands for the cost of living. Passive income refers to money which is gained indirectly i.e.
Players remain on this wheel until they have a passive income which exceeds their expenditure. The game starts out with all the players in the rat race which is a small wheel. Most people have a hard time succeeding financially even after going to school because schools don’t teach financial literacy. Robert Kiyosaki calls this cycle the rat race. Objective of the GameĬashflow 101’s main objective is to help you get out of the common cycle of financial problems faced by most people. The time required to play the game ranges from 30 minutes to 4 hours. Let’s take a closer look at the Cashflow 101 board game to understand why it is so popular and effective in instilling financial knowledge. Rich Dad Poor Dad, Increase Your Financial IQ and The Cash Flow Quadrant. Cashflow 101 attempts to teach Kiyosaki’s financial principles expressed in most of his books i.e.
Such financial problems are capable of plunging people into serious problems like homelessness as seen in many instances where home owners are unable to meet their home loan obligations. It’s a fact that most people lead lives characterized by recurring financial problems and huge debt. Through his game, Kiyosaki teaches people how to stop living paycheck-to-paycheck (the rat race) and enjoy success on the “fast track”. Cashflow 101 is a boardgame by best selling author Robert Kiyosaki.
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