{"id":1734,"date":"2016-02-03T20:02:11","date_gmt":"2016-02-03T20:02:11","guid":{"rendered":"http:\/\/thehoneybeehomes.com\/home\/?p=1734"},"modified":"2016-02-03T20:02:11","modified_gmt":"2016-02-03T20:02:11","slug":"how-to-win-at-monopoly-and-then-apply-those-lessons-part-ii","status":"publish","type":"post","link":"https:\/\/thehoneybeehomes.com\/home\/how-to-win-at-monopoly-and-then-apply-those-lessons-part-ii\/","title":{"rendered":"How to Win at MONOPOLY (and Then Apply Those Lessons) \u2013 Part II"},"content":{"rendered":"

\"Man\"<\/a>In Part I of this post, we talked about a few excellent ways to win at MONOPOLY<\/a>. \u00a0In the board game universe, those strategies and ideas will serve you well, and lead you to many victories.<\/p>\n

But what about the real world? \u00a0Sure, it might be fun to win on a cardboard square, but how can we apply these same principles\u00a0to our lives? \u00a0Fortunately, the game offers many parallels, and if we learn those lessons, we can put ourselves in much better financial positions.<\/p>\n

\u00a01. \u00a0MONOPOLY Lesson – Buy everything you land on. <\/strong>
\n\u00a0 \u00a0 \u00a0 REAL LIFE Application\u00a0– Buy assets, not liabilities.<\/strong><\/em><\/p>\n

In Monopoly, buying everything you can early\u00a0is a good strategy. \u00a0It provides\u00a0assets you can use later, and each one can be a key piece in creating monopolies, making trades, and building wealth.<\/p>\n

This works in the game because every purchase\u00a0in the game is a money-maker. \u00a0Even the cheapest properties, with no houses added, will give you a few dollars in rent. \u00a0Real life is very different!<\/p>\n

\"board\"<\/a>If you can buy things that make you money (such as certain stocks, real estate, notes, and more), you will grow your wealth. \u00a0However, if you only buy things that pull money out of your pocket (such as the fanciest phones, doodads, etcetera), it will be hard to improve your financial situation.<\/p>\n

If you’re interested in this concept, check out Rich Dad Poor Dad<\/a> by Robert Kioysaki. \u00a0It’s an easy read, and really helps illustrate this idea.<\/p>\n

2. \u00a0MONOPOLY Lesson –\u00a0If someone is selling property, buy it.<\/strong>
\n\u00a0 \u00a0 \u00a0 REAL LIFE Application\u00a0–\u00a0Keep your eye out for good deals.<\/strong><\/em><\/p>\n

Many people are avid coupon cutters. \u00a0They are fantastic at finding great deals, and get excellent\u00a0discounts on everything from groceries to televisions.<\/p>\n

If you apply this to your investments, you can do very well. \u00a0Stocks, notes, and real estate are commodities, just like groceries. \u00a0Prices rise and fall, and there will always be good deals available\u00a0if you know what you’re looking for.<\/p>\n

Train yourself to find investment bargains, you\u00a0will do more than just save a few dollars on a TV. \u00a0You will set your family up for a more comfortable future.<\/p>\n

\"police\"<\/a>3. \u00a0MONOPOLY Lesson –\u00a0Get a Monopoly as soon as you can.<\/strong>
\n\u00a0 \u00a0 \u00a0 REAL LIFE Application\u00a0–\u00a0Start your investing journey\u00a0now.<\/strong><\/em><\/p>\n

The path to a better financial future is different for each person. \u00a0Some people will be best served by creating a better budget and\u00a0cutting down on expenses. \u00a0Others may want to take an investing course, read a new book, or make an offer on a house.<\/p>\n

Wherever you are, get started! \u00a0If you take charge of your financial future, you really expand your options. \u00a0You don’t need\u00a0to become a billionaire stock market tycoon, but a bit of extra money each month can be an enormous blessing.<\/p>\n

So take one small step forward today. \u00a0Read an investing article, or search for a few techniques on working the stock market. \u00a0Look at your budget, and see if there are any ways you can free up some cash. \u00a0There is great power in small\u00a0actions –\u00a0\u00a0you can create positive momentum quickly.<\/p>\n

4. \u00a0MONOPOLY Lesson – Get Your Properties to 3 Green Houses \/ Acquire a Second Monopoly<\/strong>
\n\u00a0 \u00a0 \u00a0 REAL LIFE Application – Keep building on what you’ve started.<\/strong><\/em><\/p>\n

Once you’ve started your good habits, keep at them! \u00a0Even if you have a great saving system, it’s easy to fall out of it. \u00a0There is always a newer car, a bigger house, and a fancier phone to buy, and it’s easy to dip into savings for doodads. \u00a0Be very wary of putting YOUR money in someone else’s pocket.<\/p>\n

If you’re able to continue learning, saving, and growing your financial knowledge, you can make a lot of progress. \u00a0It will probably feel slow (and a little painful) at first, but sticking to good habits is the quickest way to a brighter future.<\/p>\n

5. \u00a0MONOPOLY Lesson – Be willing to take properties instead of cash.<\/strong>
\n\u00a0 \u00a0 \u00a0REAL LIFE Application – Look past the obvious answers and find\u00a0creative\u00a0opportunities.<\/em><\/strong><\/p>\n

\"pieces\"<\/a>In Monopoly, many people are only willing to take\u00a0cash when someone lands on their squares. \u00a0By accepting other payment methods\u00a0(properties, get out of jail free cards, etcetera), players can give themselves a big advantage in the long run.<\/p>\n

In real life, many people stick to the obvious answers. \u00a0While common practices are a great place to start, you can really limit your opportunities for growth if you never look deeper.<\/p>\n

Let’s use an example. \u00a0Say that John Doe is interested in investing in stocks, but doesn’t want to be stressed by the ups and downs of the market. \u00a0Conventional wisdom would have him either purchase mutual funds with a diversified base, or stay out of the market entirely. \u00a0However, there are many other options. \u00a0By using financial instruments such as stops, collars, and hedges, he could limit his exposure to big losses (while keeping the possibility of better returns).<\/p>\n

Of course, John would have to educate himself on how to use these options properly, and work with good people. \u00a0But if he looks past the obvious answers, he has a much better chance of improving his financial situation. \u00a0So dig in, and don’t be afraid to get a little creative.<\/p>\n

MONOPOLY is a very instructive game if played the right way. \u00a0So grab your board, learn your lessons, and have some fun!<\/p>\n","protected":false},"excerpt":{"rendered":"

In Part I of this post, we talked about a few excellent ways to win at MONOPOLY. \u00a0In the board game universe, those strategies and ideas will serve you well, and lead you to many victories. But what about the real world? \u00a0Sure, it might be fun to win on a cardboard square, but how Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,17,16],"tags":[8,77,9,10,74,75,11],"class_list":["post-1734","post","type-post","status-publish","format-standard","hentry","category-grand-rapids-mi-current-events","category-grand-rapids-mi-homes-for-sale","category-grand-rapids-mi-real-estate","tag-grand-rapids","tag-hasbro","tag-kalamazoo","tag-michigan","tag-monopoly","tag-parker-brothers","tag-real-estate"],"yoast_head":"\nHow to Win at MONOPOLY (and Then Apply Those Lessons) \u2013 Part II | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thehoneybeehomes.com\/home\/how-to-win-at-monopoly-and-then-apply-those-lessons-part-ii\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Win at MONOPOLY (and Then Apply Those Lessons) \u2013 Part II | Honeybee Homes, LLC | We Buy and Sell Grand Rapids Real Estate\" \/>\n<meta property=\"og:description\" content=\"In Part I of this post, we talked about a few excellent ways to win at MONOPOLY. \u00a0In the board game universe, those strategies and ideas will serve you well, and lead you to many victories. 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