Comments on: 8 Personal Finance Lessons I Learned From Monopoly http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html personal finance blog with anecdotes, advice and commentary. Sun, 12 Feb 2012 23:30:41 +0000 hourly 1 By: Jason Daily http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-357612 Jason Daily Sun, 31 Oct 2010 05:16:13 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-357612 OK, I was 36, w/wife and 3-kids working as a computer consultant for $55K-YR net. My boss and I were having a conversation regarding a former emp. who gave an ultimatum, a raise or he quits! Boss said there's the door; don't ever give him an ultimatum like that. Yet I found myself in the same situation, I asked for a management program after my MBA and he said no and there's the door, if I don't like it. I got up shook both VP, and my Boss's hands and walkout penny less 12/28/2007 (Friday). I got drunk with a friend, and discussed possibilities; Resulting in Leverage – By Monday morning clients were calling my personal cell phone trying to find out who my new employer was, I told them ME. I obtained a General Business Lic. and Tax Use #, bought a copy of QuickBooks and I was in consulting business 1/2/2008. First year out was $122K gross, year two was $118K, not recession proof but still profitable. My point; I have $56K in student loans, $360K upside-down house payment, 2-car payments and a MBA that I didn't need in order to start a business; it helps but turning a $25-hr job working for the man in to a $100/$125-hr self-emp is priceless. I was working minimum wage since I was 13, never really getting it until I grew a pair and took a risk, remember no pain no gain… OK, I was 36, w/wife and 3-kids working as a computer consultant for $55K-YR net. My boss and I were having a conversation regarding a former emp. who gave an ultimatum, a raise or he quits! Boss said there’s the door; don’t ever give him an ultimatum like that. Yet I found myself in the same situation, I asked for a management program after my MBA and he said no and there’s the door, if I don’t like it. I got up shook both VP, and my Boss’s hands and walkout penny less 12/28/2007 (Friday). I got drunk with a friend, and discussed possibilities; Resulting in Leverage – By Monday morning clients were calling my personal cell phone trying to find out who my new employer was, I told them ME. I obtained a General Business Lic. and Tax Use #, bought a copy of QuickBooks and I was in consulting business 1/2/2008. First year out was $122K gross, year two was $118K, not recession proof but still profitable. My point; I have $56K in student loans, $360K upside-down house payment, 2-car payments and a MBA that I didn’t need in order to start a business; it helps but turning a $25-hr job working for the man in to a $100/$125-hr self-emp is priceless. I was working minimum wage since I was 13, never really getting it until I grew a pair and took a risk, remember no pain no gain…

]]> By: Anonymous http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-356750 Anonymous Mon, 25 Oct 2010 12:40:27 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-356750 At Blaine Moore, I agree the Richest Man in Babylon is a great book and will help anybody with their finance problems over time. It has helped me live on my own and go through college making slightly above minimum wage. At Blaine Moore, I agree the Richest Man in Babylon is a great book and will help anybody with their finance problems over time. It has helped me live on my own and go through college making slightly above minimum wage.

]]> By: Jhamus http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-328652 Jhamus Wed, 07 Oct 2009 13:48:42 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-328652 If may be difficult, but it is not complicated. If you would like to have an incredibly fufilling retirement, have a better marriage, and live like no one else- go to daveramsey.com. You will learn how to get out of debt, build wealth, and give to others. Good luck to all of you! If may be difficult, but it is not complicated. If you would like to have an incredibly fufilling retirement, have a better marriage, and live like no one else- go to daveramsey.com. You will learn how to get out of debt, build wealth, and give to others. Good luck to all of you!

]]> By: renee http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-234900 renee Thu, 08 May 2008 21:23:12 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-234900 Never put all your eggs in one basket (houses, hotels). and always save enough eggs to get you thru a pinch. Whats important ,here and now or life for the long haul. Trim the fat and you will get much more in life. We are so spoiled!! Remember pennies make dollars. Life like monopoly, if all of your money is tied up in property, then you may loose what you have just to get by. Never put all your eggs in one basket (houses, hotels). and always save enough eggs to get you thru a pinch. Whats important ,here and now or life for the long haul. Trim the fat and you will get much more in life. We are so spoiled!! Remember pennies make dollars. Life like monopoly, if all of your money is tied up in property, then you may loose what you have just to get by.

]]> By: Daniel http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-161966 Daniel Wed, 03 Oct 2007 12:15:25 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-161966 The best way to save money is to pay off all your debts as quickly as possible even if it means living on Macaroni & Cheese dinners for a few months and drinking water every day instead of beer. The sooner you're out of debt, the sooner you'll be able to save money and spend it on useful things like education and finding a better job. The best way to save money is to pay off all your debts as quickly as possible even if it means living on Macaroni & Cheese dinners for a few months and drinking water every day instead of beer. The sooner you’re out of debt, the sooner you’ll be able to save money and spend it on useful things like education and finding a better job.

]]> By: Louise http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160899 Louise Sun, 30 Sep 2007 20:29:12 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160899 I used to love monopoly but I have never thought of it like this before. I wonder what the old 'get out of jail free' card is designed to teach us? We also used to play a game based on the sharemarket which toucht youthe basics of buying and selling shares as well as a great Aussie game called Squatter. You learned the principles of making money by buying and selling sheep! Great post, it made me think. I used to love monopoly but I have never thought of it like this before. I wonder what the old ‘get out of jail free’ card is designed to teach us?

We also used to play a game based on the sharemarket which toucht youthe basics of buying and selling shares as well as a great Aussie game called Squatter. You learned the principles of making money by buying and selling sheep! Great post, it made me think.

]]> By: MoneyNing http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160776 MoneyNing Sun, 30 Sep 2007 05:59:51 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160776 Monopoly is the greatest game ever invented. Monopoly is the greatest game ever invented.

]]> By: Meg http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160739 Meg Sun, 30 Sep 2007 01:50:26 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160739 I love this post!!!! Playing Monopoly is a treasured family tradition in my family, and I have always LOVED the game. I too learned a lot of financial lessons from playing, and I think this is a fabulous summary of some of the most important wealth lessons a person can/should learn from the game. I think this game is literally the foundation of my interest in real estate as my primarly wealth strategy. I love this post!!!! Playing Monopoly is a treasured family tradition in my family, and I have always LOVED the game. I too learned a lot of financial lessons from playing, and I think this is a fabulous summary of some of the most important wealth lessons a person can/should learn from the game. I think this game is literally the foundation of my interest in real estate as my primarly wealth strategy.

]]> By: Minimum Wage http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160645 Minimum Wage Sat, 29 Sep 2007 15:37:00 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160645 Okay, now I'm really intrigued...I have short bits and pieces of spare time, which is better than having no time, but I don't know how to "move quickly" when I have no money and no available credit. Could you tell us a little about how you went from -$80k to retired in four years? Okay, now I’m really intrigued…I have short bits and pieces of spare time, which is better than having no time, but I don’t know how to “move quickly” when I have no money and no available credit. Could you tell us a little about how you went from -$80k to retired in four years?

]]> By: Earl Flormata http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160549 Earl Flormata Sat, 29 Sep 2007 07:13:17 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160549 Great article. As Kiyosaki put it - the formula to success is 4 green houses = 1 big red hotel. I love the point about first mover advantage - I move quickly, but meticulously in business, and it's paid off in spades. For those of you who are looking for a way to earn passive income as per item #1, and you're stuck in a minimum wage job, and have no spare time - there are ways to do it. My story? - I came from being mired in student loans and credit cards - 80k+ in the red, to retired 4 years later at the ripe old age of 27. To boot, I'm lazy, not the brightest bulb in the bunch, and had no experience in investing when I started. Yeah, I know it's one of those "if I can do it, anyone can" spiels - but meh, it's what happened to me. Great article. As Kiyosaki put it – the formula to success is 4 green houses = 1 big red hotel. I love the point about first mover advantage – I move quickly, but meticulously in business, and it’s paid off in spades.

For those of you who are looking for a way to earn passive income as per item #1, and you’re stuck in a minimum wage job, and have no spare time – there are ways to do it.

My story? – I came from being mired in student loans and credit cards – 80k+ in the red, to retired 4 years later at the ripe old age of 27. To boot, I’m lazy, not the brightest bulb in the bunch, and had no experience in investing when I started. Yeah, I know it’s one of those “if I can do it, anyone can” spiels – but meh, it’s what happened to me.

]]> By: Catherine Lawson http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160469 Catherine Lawson Sat, 29 Sep 2007 01:20:02 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160469 Brilliant post. I particularly like number 6 - being the first to make a move. And that is so true. It kind of makes me think of all those people who rushed to build pixel sites after the million dollar one. Brilliant post. I particularly like number 6 – being the first to make a move. And that is so true.

It kind of makes me think of all those people who rushed to build pixel sites after the million dollar one.

]]> By: Minimum Wage http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160422 Minimum Wage Fri, 28 Sep 2007 23:14:30 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160422 p.s. can't take a class, they always insist on money up front and i don't have any. (remember that giant sucking sound of $300/mo out of my pocket) p.s. can’t take a class, they always insist on money up front and i don’t have any. (remember that giant sucking sound of $300/mo out of my pocket)

]]> By: Minimum Wage http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160421 Minimum Wage Fri, 28 Sep 2007 23:13:23 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160421 My MWF mornings are fully occupied with medical appointments (yes, on an ongoing basis). I usually work 11-hour shifts the other days. I don't have a car, so my employability is limited to those places I can get to on foot or by transit, and of course the hours cannot conflict with either my present job or my medical appointments. I have a few hours here and there, but it's hard to fit them into a job schedule. My MWF mornings are fully occupied with medical appointments (yes, on an ongoing basis). I usually work 11-hour shifts the other days. I don’t have a car, so my employability is limited to those places I can get to on foot or by transit, and of course the hours cannot conflict with either my present job or my medical appointments. I have a few hours here and there, but it’s hard to fit them into a job schedule.

]]> By: Nick http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160406 Nick Fri, 28 Sep 2007 21:48:40 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160406 Minimum Wage, perhaps problem #1 in your money woes is that you're home at 11:00 AM on a workday complaining on the internet about how little money you make. Take a class. Get a 2nd job. Be productive. Minimum Wage, perhaps problem #1 in your money woes is that you’re home at 11:00 AM on a workday complaining on the internet about how little money you make. Take a class. Get a 2nd job. Be productive.

]]> By: Minimum Wage http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html/comment-page-1#comment-160395 Minimum Wage Fri, 28 Sep 2007 21:14:34 +0000 http://www.bargaineering.com/articles/8-personal-finance-lessons-i-learned-from-monopoly.html#comment-160395 Ever heard of "dead-end" jobs? Ever heard of “dead-end” jobs?

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