Traditional Monopoly you get a cash advance and attempt to build your fortune as you go around the board and make purchases that will result in residual cash to add to your bank. If you play it just right you will eventually own everything and everyone who is playing the game with you.
Now for a twist and a new concept!
You are playing Monopoly.
• After every trip around the board, you pass GO and collect $200.
• When you land on a space you have the option to purchase the property if it is open.
• Once you own property you can purchase a house.
• Once you have enough houses you can purchase a hotel.
• Eventually, you are in the lead and feeling good about all you have purchased.
Now if you are the leader you must give:
• One piece of Property to the player with the least amount of properties.
• One House to the player with the least amount of houses.
• One Hotel to the player with the least amount of hotels.
• Pay 35% income tax on your remaining value of Property, Houses, Hotels, and Cash.
• You Do Not get to collect $200.
Hardly seems fair now does it!
Traditionally you go to work each day to earn a paycheck that will add cash to your bank. If you are aware of your limitations you will live a relatively good life. Perhaps you might exceed your expectations and have a very comfortable life.
Let’s play your life:
• On each payday, you receive a lump sum of money.
• Once a month you will pay for your accommodations.
• Once a month you will pay your required expenses.
• The remainder of the money you spend on anything you want.
• Eventually, you will run out of money for that month.
Now if you are broke you must decide:
• Are my accommodations to expensive?
• Are my required expenses really required?
• Did I really need everything I thought I wanted?
• Who will I ask to borrow money from?
• Which credit card will I use to supplement my income?
• You carry forward debt created to the next month!
Unlike a game where you can just pack up the pieces and have a good laugh in regards to who outdid who! Life is not that simple. What we do in life attaches to us like glue and only when we have paid our dues are we released from that bond.
Life requires you to live within your means. Which means you must know what the absolute rock bottom you need to survive so you can build or rebuild cash flow within your bank account.
Income must be earned in order to be spent. Which means you must set limits on what you are spending based on the income you are receiving.
Credit is a temporary fix. Which means it is not supposed to be a lifestyle to become accustomed to. Pay off your credit before making additional purchases.
A good exercise to do:
• Write down what you really need and compare it with what you currently have.
• Be honest and allow yourself to see what you need vs. what you want.
• Work hard towards what you need and accomplish that goal before branching out to what you believe you want.
Everything takes time! Sometimes it is just longer than you really wanted it to.
The History of the Monopoly Game: Players collect rent from their opponents, with the goal being to drive them into bankruptcy. read more . . .