I think this will be the first time I’m sharing something like this because it involves financial education and not really about virtual business or online marketing. But since I said in my earlier blog that topics about personal finance will also be included in my website, it’s time that I share something about it.
I’m sure that most of you heard the famous Robert Kiyosaki and his book entitled “Rich Dad, Poor Dad.” That book opened my mind to many possibilities. But it didn’t end there. I keep on following this author that taught me many things. Robert also suggested playing a game called “Cash Flow 101,” where you will learn something about life and how you handle your own finances. Although I’m familiar with the term, I didn’t have the chance to play it in reality. I’ve tried it online, but I was confused about it that I decided not to play again.
3 Best Lessons I’ve Learned While Playing Cash Flow 101
A few days ago, I and some fellow VAs had planned to play this game. We borrowed from someone who has it. I was not sure if I really wanted to play the game. I was a little nervous and wondering what would happen next. So when a vacant seat was available, I invited another person to join me so that we can play the game as partners.
The goal of the game is to get out of the rate race, meaning that your passive income should be greater than your monthly expenses. This game is a type of game that should not be left with people who have no idea how it should be played. I’m glad that we have someone who can facilitate it and explain everything that we need to understand.
Overall, I had fun with it and had learned so many things. This game could really enlighten you and it will change your perspective in a better way. Today, I’m going to share with you the 3 best lessons I’ve learned while playing Cash Flow 101.
1. Have a financial mentor or consultant.
Don’t let yourself become ignorant about financial matters. Yes, it’s not easy to compute or record and understand your financial situation. Sometimes, it’s stressful. Most of us even wish that we reach financial success as easy as possible. But it is not the right way. That’s why you need one to guide you. Having a mentor will prevent you from investing in wrong opportunities. He or She will surely prevent you from scams or bogus operations that are very common these days.
2. Your current income is not that important.
Whether you’re a professional or an ordinary worker, it really doesn’t matter. During the game, our job was a mechanic and the monthly salary is, of course, lesser than the white label jobs. At first, you can’t imagine how you would be able to get out of the rat race. The person we represent seemed to have more expenses than income. The secret is to see opportunities – right opportunities.
We had the chance to invest in the stock market. Investing in stock market is not as expensive as most of us thought it is. All we need to do is to understand how it works and what would be our role. You do not need to know the nitty-gritty details of it; you just have to ask a broker to guide you.
During the game, we were given another opportunity to invest. This time it’s about retaining a current business that has a good standing. As much as we wanted to invest, it looks like we cannot afford it. But when we asked our mentor and seek his advice, he shared how the business would be good for us. He showed how to invest in it using the current money that we have. We realized that we have the capacity to do it. I’ve learned that business opportunities are open to all types of people. Opportunities are not just for the rich. We, the ordinary people, just need to learn how to actually “see” them.
3. Continuous financial education is a must.
It’s not enough that you know the basics, because basics are for the mediocre. If you want to succeed, if you want to get out of the rat race, you need to be aware of what’s happening with the financial world. For example, you’re into stocks. If you’re investing in the stocks, you need to always be updated, most especially about the company you invested in. You have to make sure that you are investing in the right company. Whatever types of investing you went into, being proactive about it will help you prepare for the future. You have to mind your business. Being aware about financial matters will help you prevent from investing in the wrong business.
To be honest, I’ve learned a lot by playing the game. But I believe that the 3 lessons above are the most valuable ones. I’m glad that I finally had the chance to play the Cash Flow 101. It really helped me. While I was in the game, it felt like it was real, maybe because it can actually happen in life. There were times that we spend too much even if we don’t have enough. This game is no ordinary game, it will teach something important about reality.
That’s it. Hope I’ve share some very good insights with you. Thanks for reading.
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