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Friday, July 12, 2024

5 Life Strategies to Learn by Playing the Monopoly Game

Go to jail! Is that all you know about the Monopoly board game?

This board game originated in the United States in 1903 as a way to demonstrate that an economy which rewards wealth creation is better than one in which monopolists work under few constraints and to promote the economic theories of Henry George and in particular his idea about taxation and women’s rights.

This article shows how the monopoly game gives you success strategies for real life and business.

In the monopoly game, players move around the game board buying or trading properties, developing their properties with houses and hostel, and collecting rent from their opponents, with the goal being to drive them all into bankruptcy, leaving one monopolists in control of the entire economy.

Setting goals and staying focused helps to achieve a lot. Playing the monopoly game teaches specific strategy of keeping your eyes on the ball. This is important in personal life and in business.

  • Keep an eye on your competitors

Competition will never cease to exist. In school, business, office, and in government, we all need to compete. The board game will help you to look beyond the game itself but other players (your competitors).

Don’t judge people by looks but by their moves, actions and decisions. Playing the game helps you to gain insight into other people you’re playing against. As a business owner, you can learn to read and beat your opponents with the experience that comes from playing the monopoly game.

  • Generate Income

Monopoly simply teaches you to invest in best assets that promise constant future cash flow.

For example, many Monopoly players quickly go for railroads (Pennsylvania, B&O), and Short Line) or Utilities like (Water Works and Electric Company). Since you cannot put houses or hotels on them, they have little cash flow potential.

Assets like these are not enough to win the game on their own but investing in ones with big constant revenue stream are the best.

For business and personal life, you need to make investment on assets with real constant future cash flow that can sustain you on your way to achieving a financial goal.

  • Learn to manage money

Investing, earning, saving and spending are terms related to money. Of course you want to collect multiple properties. But if you overspend and do not keep enough of a cash cushion in reserve, then you could go bust by landing on someone else’s property.

The lesson here is simple; do not spend more than you can afford in the game and in real life. You do that, be ready to be in the bad debt trauma.

  • Never underestimate the power of luck

Luck is preparation meeting opportunity. Hard work comes before real success in life and in business. Taking time to strategize, save, invest are all preparation stages in real life and business, and so is it in Monopoly.

Luck plays a major role in getting you to the top in Life and in the game as well, after all, it’s a game of dice. No matter how strategic you are, you never know how the game is to turn out – there’s a place for luck.

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