THERE are many ways to learn about money. One of my favorite ways is through board games. Before the pandemic I'd meet up with friends and play. Nowadays, it can be done online. The classic board game Monopoly, for example, can teach some lessons about handling money and investing such as: Always having cash on hand for investment opportunities. Improving assets increases cashflow. Diversifying produces a more consistent income. Focusing on the return on investment and not on dollar amounts shows a more efficient use of capital.

Another boardgame that teaches money and accounting is Cashflow 101. In the game the players are represented by rats, who want to get out of the rat race and achieve their dreams. You, as a player, are given a profession that ranges from janitor to doctor with corresponding financial statements. The income statement starts off with a salary as your only income and monthly expenses. The balance sheet starts with cash as your only asset and liabilities such as a home loan, a car loan and credit card debt. To get out of the rat race you need to increase your passive income to at least equal your monthly expenses. Passive income is income from assets, such as interest and dividends, rentals, businesses, and royalties. In the game board there are several spaces which will prompt drawing a card. These are: Small Deals, Big Deals, the Marketplace, and Doodads. Deals range from businesses, stocks, and real estate. These offer opportunities to invest your money. If your savings is not enough you can always borrow from the banker that charges 10 percent interest a month. The Marketplace dictates the investment environment. Doodads are unnecessary expenses that you must pay out. Below are some of lessons from the game:

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