Let's play Cashflow 101 online!

To be honest with you, I'm not the game kind of a person. Like most of my friends, they like to play games very much like Pro Evolution Soccer, Warcraft and Need For Speed SHIFT. My room mates back to Universiti Teknologi Petronas, he is the god of Need For Speed SHIFT. But this holidays, I found a new game which involve personal money management. Something like Monopoly, but this one is far more real.

It is a Cashflow 101. This game was invented by Robert T. Kiyosaki, one of my favorite author. For people who seek for financial knowledge, this game will give you a very practical understanding of your own finance. I believe most of us, we are either from a poor class or middle class people, and we have our own perception about money. One of it is, we always thought that we have to work harder to make more money.

This is where this amazing game came in. In order to change our financial level, we first have to change our attitude on money. This game teach us to think like the rich. The rich always think, if they want to make more money, they have to make sure the money work for them. Not like us, we work for the money.

In order to make money work for us, we must have some passive incomes. Passive income in this game where we get money by renting some properties. Most of us, we use our money to buy liabilities. Just bare in your mind, anything that can put money in your pocket is an asset, while anything that can take your money away is a liability. So, the strategy is to accumulate as much assets as possible to gain more passive income.

In this game, you will also learn about income statement and balance sheet. In the income statement, there will be your income amount and your expenses which both in form of monthly basis. Your income is determine by your profession which can be a doctor, web designer, school teacher, lawyer, pilot army and many more. If you a doctor, of course your income will be more, but your expenses also will be more. This is the truth in the real life. In the expenses part, it is where you have your taxes, home mortgage, school loan payment, car payment, credit card payment and many more.

For the balance sheet, this is where you put your assets and liabilities. Remember what I've told you about the difference between assets and liabilities. When you buy a property and it give you a positive cash flow every month, it is an assets. When you buy a car, and you need to pay the car monthly, it is obviously a liability to you. In order for you to get out of the rat race, you have to accumulate as much as possible assets that can give you a positive cash flow. Sometimes you have the opportunity to sell your assets and enable you to get more cash. That cash you use to buy another assets which can get you more passive income. This is what we call delayed gratification.

I believe that for you to totally understand the concept, you must play the game as often as possible. I also provide half an hour everyday to play the game, just to make sure that I have the right mindset about money, which is "make money work for us". Just click here to play the game. I you are not the member of Rich Dad, you have to register first. Don't worry, it is free. Enjoy!