6 Real-Life Money Lessons You Can Learn From Monopoly
- Admin
- Mar 30, 2018
- 2 min read
1. Start saving early
When playing Monopoly, if you don’t begin investing early, you’ll be forced out of the game sooner rather than later. Why? Because the bulk of your cash will be spent paying out rent to those smart enough to buy property early on.
2. Don’t put all your eggs in one basket
You won’t win a game of Monopoly if you only invest in a single property, even if you load it up with all the cute little green houses that (fake) money can buy. The best game players purchase multiple properties, preferably at least one from each color group. This increases the chances of collecting rent across the board.
3. Plan for the unexpected
Even though it’s important to start buying properties as soon as possible in the game, you still need to have a cash buffer when unexpected expenses pop up. As soon as I get my money from the banker at the beginning of the game, I stash $300 under my side of the board. This comes in handy whenever I have to pay taxes or rent to another player later on.
4. Generate passive income
In Monopoly, nothing is sweeter than owning a hotel. Why? Hotel ownership is a winning strategy because it means you can charge the highest rent when someone lands on one of your squares.
5. Practice discipline
Although we discussed the importance of buying properties, this doesn’t mean you should purchase every single property you land on. Being thoughtful and strategic with your hard-earned Monopoly money will go a long way if you want to be the last player standing.
6. Negotiate like a pro
If you’re a Monopoly geek like me then you know that sometimes you have to trade property just to stay in the game. And, depending on who the other players are, you may have to step up your negotiation skills in order to make a mutually beneficial deal.
Final Thoughts
Although you never really know what “chance” card life may deal you, it’s important to face your money obstacles head on. And, armed with these money lessons from Monopoly, you’ll learn some key tools to effectively handle your finances, navigate money challenges, and hopefully come out a winner!
Comentários