How to Make the Most of the Monopoly Game

Monopoly is a very enjoyable board game, but it can be so much more than just a way to pass the time. Playing the game of Monopoly can teach you some pretty great lessons about money, investing, and making wise financial decisions.

Here are a few things you can learn from Monopoly:

  1. Success is Largely Luck --When you play Monopoly, the dice control your fate. There are only so many decisions you can make, but the rest are in the hands of luck. Approach your life the same way, accepting that a lot of decisions are out of your hand. Take the good luck as often as you can, and take advantage of every opportunity that comes your way.
  2. Budgeting is King -- In your first few turns around the board, do you buy EVERY property you land on? Probably not, or you'd go bankrupt before you can ever get houses or hotels on your properties. Instead of spending all of your cash, spend what you need to in order to get ahead and keep the rest saved up for a time when you really need it.
  3. Watch Out for Opportunities -- Whether it's buying that last property to stop your opponent from getting a monopoly or landing on the final property you need for your own, Monopoly is all about seizing the moment. You should do the same in your life, and take every chance you can to get ahead. Be prepared for a "hot streak" in your own life, and you'll find you can make good progress while it lasts.
  4. Take Calculated Risks -- When you play Monopoly, it's all about taking a calculated risk. Is it worth it to buy Boardwalk and Park Place when few people ever land there? Think about what gives you the greatest chance of success, and take those risks. There's no guarantee that they'll work out, but that's life.
  5. Build Relationships -- If you want to bargain with an opponent for a property they have, you're going to have a good relationship with them. The same is true in real life. You need to foster relationships with those you come in contact with, and start expanding your network in order to get ahead AND help others get ahead.
  6. Improve or Die -- You can go around the board collecting cash, but the only way to win is to build more hotels than the other guy. If you never build hotels, you'll end up losing the game. Find ways to improve in your own life, or else risk stagnation and failure. Accumulate more assets, and stay away from debt. Invest in your future, and always strive to improve your financial situation. Make your money work for you, and find ways to earn residual income from the "houses and hotels" in your life.
  7. Negotiate -- If you want anything in life, you'll have to be willing to negotiate for it. You'll have to make deals both in the game and in your life, and you won't get your way by being an overpowering bully. Improve your negotiation skills, and you stand a greater chance of winning at Monopoly and at life!

Monopoly is so much more than just a board game, but it will prepare you for the real world. Play the game to win, and use the lessons above to help you win at life as well.