Hi!
There is a local group in Dallas that plays this game before some of their monthly meetings.
I think its a 'learn as you play' type of thing. I've read 'The Cash Flow Quadrant' by the guy who developed the game. Can't think of his name, but the book was ok.
Personally I wouldn't spend the money on it, you could learn a ton of info from this website.
I have played the game. It is a good learning tool for a newbie investor. You have to play it a couple of times to understand it. It uses a balance sheet to keep track of your assests and liabilities. Remember it gives you only a basic understanding!
engelduo- knowing it is $150, would you say it is too elementary for an average investor?
I have read some of his books and would be disappointed if it only taught the difference between asset and liability. While I understand the importance of knowing this, it isn't a $150 lesson to learn.
Quote:Has anyone bought or played this game that could give me some honest feedback as to its value as a teaching tool for my family?Is having your children learn the value of saving and investing over spending their money on toys and doodads, worth the $150 price of a teaching tool disguised as a game.
I love the real estate game in real life. I play it everyday . . . always looking for the next property to buy.
Regarding the Cashflow 101 board game, I love it too! Not because it teaches me anything about real estate, it is simply a refreshment course of financial smarts! It helps you remind your brain (every time you play), to make better financial decisions.
We all want what the Jones's have, it is just our human nature. This is true when playing CashFlow 101 as well. When another investor sitting next to you has made it out of the "Rat Race" and doesn't have to go to work anymore if they do not want, in the course of the game, that is your goal too! If you play the game regularly you will help program your mind what you must do (in real life) in order to "Not HAVE to go to work anymore"
Have you ever played the game Monopoly? Most everyone has. The key component of this game is to buy enough property, houses, and hotels to bankrupt your opponants, and then .... you win! CashFlow 101 is every man for himself. Everyone starts the game with a certain amount of money, and is responsible for investing it wisely! Can you tell your family how invest their money wisely? Sure you can, but when you show them (by playing the game), it can give them an ever better understanding.
I agree with you that it cost a lot of money, but so does going through life with poor financial smarts! I'm not saying you in general, but you get my point!
It is a great tool and it is fun to play! I would reccommend it!
I have played the game briefly and think that it's most important purpose is also Robert Kiyosaki's main purpose of Rich Dad Poor Dad. It is simply to explain what type of mindsets and spending habits are needed. Remember the diagrams of how the rich, middle class, and poor spend money? Well Cashflow 101 is an accellerated game of life so it can teach you to make like choices in real life.
Excellent teaching tool to someone new. Excellent refresher to the experienced.
I've played it several times. Same concept as Monopoly, if you have the money spend it buying assets. If you don't have the money, borrow as much as you can w/o getting yourself into trouble. Instead of houses and hotels, you have to decide wether to persue an investment or pass it up. The concept is: that in the end the janitor can make just as much if not more money as the Dr. provided you make the right invesments.
I have played it and I really liked it. It is a great teaching tool.
One thing that hasn't been mentioned yet, is the networking that can be accomplished using this game. You can tell the "game players" and the people who really enjoy the game for the lessons taught, these people are looking for building wealth. Good people to know.
If I had kids, I would definatly buy it, and play it with them.
$150 is a lot of money for a game, but Cashflow is more than a game, it is a tool. Tools are designed to accomplish a specific goal or task and this "game" does that. I bought it and use/play it often.
As far as understanding how to play it.....it is exactly what you would be doing in your real life. It teachs you basic financial concepts and shows you how you can become successful and get out of what he calls the "Rat Race." It is more than a over priced game of monopoly, in my opinion it is nothing like monopoly. You buy more than just houses. You can buy stocks, bonds, dividends, apartments, businesses, and bunch of other things. It is not hard to play once you begin to understand the message the tool/game is trying to convey.
It is a great tool and I would recommend it to everyone. But just like any other tool, book, course you buy, it is worthless unless you apply what you learned. And all that apply what it is that they've learned from the tool, I'm sure they would recommend it too.
I've played it several times with grandkids & it's really an eye opener for them. To watch them catch on to power of investing in RE, and see what can happen to steady REI, is really fun for me.
Believe me, it has an impact on a 13 year old when he's told his income has jumped to $700k per MONTH!
Much more realistic than Monopoly & I'm gonna be surprised if a LOT of REIs don't come out of this game.
While I don't know much about Robert K except his best selling book and the fact that he's a tremendous salesman, I do compliment him on this game. It's a real winner.
I have the game and love it. My 9 year old makes everyone play it. He is in love with it. I also have 202 and it is very good as well. I also teach High school economics and use it in my class. It has helped a lot. The kids want to play it all the time. My family and friends have played it none of them have read any books or have any need or want to invest in Realestate however they enjoy the game and it starts them thinking.
awesome game. though quite pricey..if cost is an issue go in on it with a couple people or join a local club to play it.
i find it help teach you to think rich and how to use good debt. also it is a great refresher course. if you play it not how you know you need to in order to win but how you would act in life...it will help show you how to apply the lessons taught in real life situations.
I don't own the game, but I have listened to alot of Roberts Kiyosakis stuff. He was the first to help me think differently about money/wealth. I hope to buy cashflow 101 and maybe 202 soon and share it with my son when he is old enough...Just an aside- I think some of his ideas are a bit vauge and difficult to just pick up if you are very new to this game. I read Rich Dad Poor Dad and Cash Flow Quaderant a few years ago and again after being here awhile and it felt very different after I was schooled by some of the pros here.
my 2 cents is that his ideals are wonderfull if not abit hard to apply in the begining. Great reads for all though I think
Games are fun, but life is funner, oops I must work on my vocabulary.
During the Punic Wars, I was building a mass of strange and wonderous houses which I designed as my wife used to say by throwing darts at objects on the wall then we were having children and in true oriental fashion my wife would show up on the site and direct crews or teach skills with a small child suspended from a strange looking Chinese blanket/cloth on her back. It worked well. Yes she did go to Art Center.
During the course of these profit driven artistic ventures the children, we had two plus others from prior marriages. They all came to visit liked the casual atmosphere and the crazy social racial mixes of the building world. They all would participate. Pick up nails, sweep up during framing. Serve cold drinks to those whose tounges were protruding to the point of tripping over them. etc. And as time went by they picked up skills, I know girls are not supposed to be able to do these things. But consider if you had to chose between two girls with the same dimensions which one would you choose? I would chose the one who can build a house without freeking out. Of course I hope she could cook and had other skills. I taught all my children these basic things. I also taught them the abacus for the moments when there is no electricity and the world goes primative. I taught them to properly measure and to tell a Lintel from a Header. But they all heard lots of talk and planning etc.
Well it worked out pretty well. Here I am 81 with no money starting all over again and my children are now loaded with properties. Greedy little ------. But they are fun to watch. I get a few calls as they hit something a little strange. But as times goes on less and less they are launched. Not from games but from the real thing.
I taught my girls poker, five card draw and stud. The essence of investing. So almost any day now they will find this site and start to post.
I tried to teach them my favorite game, it is called Life.
Will it save you more than $150 in mistakes that you may have made??? Perhaps.
It is fun. It's especially fun to play with people who have little financial sense (no matter how educated) and see how they respond. It's also interesting to play as couples (paired up). You quickly learn how each other view money.
If you've read Kiosaki's stuff, you won't learn tons of new principles. It is a good refresher and reminder. It is fun. It is fun to share with others. If you've got $150 to spend on your RE education, I'd probably buy other books and programs. If you've got $5-600 then it's probably money well spent.
Hi!
There is a local group in Dallas that plays this game before some of their monthly meetings.
I think its a 'learn as you play' type of thing. I've read 'The Cash Flow Quadrant' by the guy who developed the game. Can't think of his name, but the book was ok.
Personally I wouldn't spend the money on it, you could learn a ton of info from this website.
I have played the game. It is a good learning tool for a newbie investor. You have to play it a couple of times to understand it. It uses a balance sheet to keep track of your assests and liabilities. Remember it gives you only a basic understanding!
engelduo- knowing it is $150, would you say it is too elementary for an average investor?
I have read some of his books and would be disappointed if it only taught the difference between asset and liability. While I understand the importance of knowing this, it isn't a $150 lesson to learn.
Quote:Has anyone bought or played this game that could give me some honest feedback as to its value as a teaching tool for my family?Is having your children learn the value of saving and investing over spending their money on toys and doodads, worth the $150 price of a teaching tool disguised as a game.
sorry, actually asking Tophat1 also.
DaveT,
ofcourse, however from the description written by tophat1, it may be too complex for their ages right now and too simplistic for my wife.
Hi elissnurse,
I love the real estate game in real life. I play it everyday . . . always looking for the next property to buy.
Regarding the Cashflow 101 board game, I love it too! Not because it teaches me anything about real estate, it is simply a refreshment course of financial smarts! It helps you remind your brain (every time you play), to make better financial decisions.
We all want what the Jones's have, it is just our human nature. This is true when playing CashFlow 101 as well. When another investor sitting next to you has made it out of the "Rat Race" and doesn't have to go to work anymore if they do not want, in the course of the game, that is your goal too! If you play the game regularly you will help program your mind what you must do (in real life) in order to "Not HAVE to go to work anymore"
Have you ever played the game Monopoly? Most everyone has. The key component of this game is to buy enough property, houses, and hotels to bankrupt your opponants, and then .... you win! CashFlow 101 is every man for himself. Everyone starts the game with a certain amount of money, and is responsible for investing it wisely! Can you tell your family how invest their money wisely? Sure you can, but when you show them (by playing the game), it can give them an ever better understanding.
I agree with you that it cost a lot of money, but so does going through life with poor financial smarts! I'm not saying you in general, but you get my point!
It is a great tool and it is fun to play! I would reccommend it!
Best of Success!
BAMZ
I have played the game briefly and think that it's most important purpose is also Robert Kiyosaki's main purpose of Rich Dad Poor Dad. It is simply to explain what type of mindsets and spending habits are needed. Remember the diagrams of how the rich, middle class, and poor spend money? Well Cashflow 101 is an accellerated game of life so it can teach you to make like choices in real life.
Excellent teaching tool to someone new. Excellent refresher to the experienced.
I've played it several times. Same concept as Monopoly, if you have the money spend it buying assets. If you don't have the money, borrow as much as you can w/o getting yourself into trouble. Instead of houses and hotels, you have to decide wether to persue an investment or pass it up. The concept is: that in the end the janitor can make just as much if not more money as the Dr. provided you make the right invesments.
I have played it and I really liked it. It is a great teaching tool.
One thing that hasn't been mentioned yet, is the networking that can be accomplished using this game. You can tell the "game players" and the people who really enjoy the game for the lessons taught, these people are looking for building wealth. Good people to know.
If I had kids, I would definatly buy it, and play it with them.
Dave
I think some of you have missed the point.
$150 is a lot of money for a game, but Cashflow is more than a game, it is a tool. Tools are designed to accomplish a specific goal or task and this "game" does that. I bought it and use/play it often.
As far as understanding how to play it.....it is exactly what you would be doing in your real life. It teachs you basic financial concepts and shows you how you can become successful and get out of what he calls the "Rat Race." It is more than a over priced game of monopoly, in my opinion it is nothing like monopoly. You buy more than just houses. You can buy stocks, bonds, dividends, apartments, businesses, and bunch of other things. It is not hard to play once you begin to understand the message the tool/game is trying to convey.
It is a great tool and I would recommend it to everyone. But just like any other tool, book, course you buy, it is worthless unless you apply what you learned. And all that apply what it is that they've learned from the tool, I'm sure they would recommend it too.
Buy it .... Play it .... Apply it .... PROFIT!
Cashflow for Kids is the game of choice for childern. You can start playing with them at age five. It cost aprox: $35.00
I bought it seating in the box still and never had the chance to pay it.
It looks great,
I've played it several times with grandkids & it's really an eye opener for them. To watch them catch on to power of investing in RE, and see what can happen to steady REI, is really fun for me.
Believe me, it has an impact on a 13 year old when he's told his income has jumped to $700k per MONTH!
Much more realistic than Monopoly & I'm gonna be surprised if a LOT of REIs don't come out of this game.
While I don't know much about Robert K except his best selling book and the fact that he's a tremendous salesman, I do compliment him on this game. It's a real winner.
I have the game and love it. My 9 year old makes everyone play it. He is in love with it. I also have 202 and it is very good as well. I also teach High school economics and use it in my class. It has helped a lot. The kids want to play it all the time. My family and friends have played it none of them have read any books or have any need or want to invest in Realestate however they enjoy the game and it starts them thinking.
awesome game. though quite pricey..if cost is an issue go in on it with a couple people or join a local club to play it.
i find it help teach you to think rich and how to use good debt. also it is a great refresher course. if you play it not how you know you need to in order to win but how you would act in life...it will help show you how to apply the lessons taught in real life situations.
I don't own the game, but I have listened to alot of Roberts Kiyosakis stuff. He was the first to help me think differently about money/wealth. I hope to buy cashflow 101 and maybe 202 soon and share it with my son when he is old enough...Just an aside- I think some of his ideas are a bit vauge and difficult to just pick up if you are very new to this game. I read Rich Dad Poor Dad and Cash Flow Quaderant a few years ago and again after being here awhile and it felt very different after I was schooled by some of the pros here.
my 2 cents is that his ideals are wonderfull if not abit hard to apply in the begining. Great reads for all though I think
Bri
Games are fun, but life is funner, oops I must work on my vocabulary.
During the Punic Wars, I was building a mass of strange and wonderous houses which I designed as my wife used to say by throwing darts at objects on the wall then we were having children and in true oriental fashion my wife would show up on the site and direct crews or teach skills with a small child suspended from a strange looking Chinese blanket/cloth on her back. It worked well. Yes she did go to Art Center.
During the course of these profit driven artistic ventures the children, we had two plus others from prior marriages. They all came to visit liked the casual atmosphere and the crazy social racial mixes of the building world. They all would participate. Pick up nails, sweep up during framing. Serve cold drinks to those whose tounges were protruding to the point of tripping over them. etc. And as time went by they picked up skills, I know girls are not supposed to be able to do these things. But consider if you had to chose between two girls with the same dimensions which one would you choose? I would chose the one who can build a house without freeking out. Of course I hope she could cook and had other skills. I taught all my children these basic things. I also taught them the abacus for the moments when there is no electricity and the world goes primative. I taught them to properly measure and to tell a Lintel from a Header. But they all heard lots of talk and planning etc.
Well it worked out pretty well. Here I am 81 with no money starting all over again and my children are now loaded with properties. Greedy little ------. But they are fun to watch. I get a few calls as they hit something a little strange. But as times goes on less and less they are launched. Not from games but from the real thing.
I taught my girls poker, five card draw and stud. The essence of investing. So almost any day now they will find this site and start to post.
I tried to teach them my favorite game, it is called Life.
Heavy Breathing Lucius
Will it save you more than $150 in mistakes that you may have made??? Perhaps.
It is fun. It's especially fun to play with people who have little financial sense (no matter how educated) and see how they respond. It's also interesting to play as couples (paired up). You quickly learn how each other view money.
If you've read Kiosaki's stuff, you won't learn tons of new principles. It is a good refresher and reminder. It is fun. It is fun to share with others. If you've got $150 to spend on your RE education, I'd probably buy other books and programs. If you've got $5-600 then it's probably money well spent.
Look for it on ebay. Lot cheaper.