Thank you to RichDad for sponsoring today’s discussion. As always, the opinions about the CASHFLOW game are mine.
If you haven’t known me for years, I’m going to tell you something that will probably shock you- for nine years I was in the financial business. While my practice was primarily insurance-based, I was security licensed so helped clients get out of debt, make responsible financial decisions and yes, even invest. Over the course of those years, I saw and heard a lot of crazy things. Know why? No one’s ever taught about money.
Think about it- were you ever offered a course in high school or college about money management? Probably not. Did your parents take the time to sit you down and tell you everything about balancing a checkbook, credit cards or basic investing? Most of my past clients said “no” all the time. So, how are our kids going to learn about money? From us and the CASHFLOW board game can help.
CASHFLOW was created by Robert Kiyosaki, the author of Rich Dad Poor Dad, the best selling personal finance book of all time and Kim Kiyosaki, author of It’s Rising Time. It teaches teens (and adults) how to get out of the rat Race and onto the Fast Track. Rosie and I invited three friends to check it out.
All of the teens were excited to try the game- especially when they learned their professions and started filling out their balance sheets. However, it became pretty apparent to all that some professions pay better than others and that there were clear cut expenses in everyone’s life- like a mortgage. This gave the girls the chance to talk about what they’d like to do in life, how much they’d like to make and how they’d handle their money.
After playing, all of them were a little distressed. As Rosie said, “it forced us to spend money on things.” Yep. Unfortunately, real life can be like that too with unexpected expenses. And, it was a little hard for them to grasp all their expenses coming out and in at first. However, all the girls enjoyed the game.
What sets CASHFLOW apart from other games is that it teaches you how to invest and you can try out different strategies to see the outcome. What makes the game really cool, is it facilitates the discussion that so many parents may not have with their teens on a normal basis. It allows you to openly discuss expenses in your home and the mistakes you may have personally made with finances and some of the successes.
As someone that was in the business for almost a decade, I highly recommend the CASHFLOW game (if I could go back in time, there are a bunch of clients that I’d have play it so they’d understand their behavior around money better). Want to teach your teens about money? You can get the game for 10% off with the code: CASHFLOW