Believe it or not, you can learn a lot about managing your money from old-fashioned board games like Monopoly and Ludo. Click or scroll through to see how.
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Snakes and Ladders/Chutes and Ladders – what goes up must come down
Landing at the top of a snake or chute in this game will send the player plunging down the board. Whether you’re investing in the stock market, property or a commodity such as gold, the value of your investment can go down as well as up, no matter how bullish or buoyant the market appears.
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Trivial Pursuit – knowledge is all
Like a successful general knowledge quiz player, a savvy investor has a comprehensive understanding of the world at large. Knowing what’s going on globally will help make you a better investor.
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Operation – don’t panic
Staying cool, calm and collected is vital if you want to win this nerve-wracking board game. When investing it’s all too easy to panic and make financial mistakes when the market isn’t in your favor. Learn to hold your nerve and resist the temptation to make hasty, panic-fueled decisions.
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Monopoly – you’ve got to speculate to accumulate
The key to winning this classic property trading game is to buy everything you land on and snap up houses and hotels when you can. Likewise, you’ve got to speculate to accumulate, at least initially, if you want to make any money out of investing.
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Chess – take your investing cues from the masters
Serious chess players perfect their skills playing in tournaments with other masters of the game. If you’re serious about investing, there’s a lot you can learn from top investors such as Warren Buffett and George Soros.
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Who wants to be a millionaire? – don’t be afraid to get advice when you need it
The Phone a Friend option in this board game based on the hit TV show can mean the difference between winning or losing. While friends can offer unreliable money-related advice, it can be worth discussing any potential investments with a financial advisor.
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Clue/Cluedo – do your due diligence
The ultimate murder mystery board game demands solid detective skills. Likewise, developing sleuthy skills is important if you’re an investor. Doing your due diligence and conducting background financial checks are essential before you invest in a start-up, for instance.
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The Game of Life – smart investing will set you up for a comfortable retirement
In this fun game, which was created in the mid-19th century, the player who retires with the biggest fortune wins. As with investing, a combination of wise choices and luck is the winning formula in the Game of Life.
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Pay Day – invest within your means
Budgeting correctly is the crux of this Monopoly-like game. Stretching yourself won’t do your financial or general wellbeing any favors, so try to invest within your means and avoid allocating too much money to your investments.
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Pictionary – use your imagination
Drawing pictures to represent words can be tricky and you have to use your imagination if you want to win the game. Creative lateral thinking can pay off in investing too, so aim to cultivate this skill if you can.
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Scotland Yard – analyzing past trends can help you predict the market
In this detective game, players have to pursue criminal mastermind Mr X around London and work out his next move, based on his previous movements. Analyzing past trends can help you predict the market and make better investment choices.
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Jenga – build strong financial foundations and try not to get too carried away
Like Jenga, investing is a game of skill that can go very wrong if you rush into things and fail to build a solid foundation. Investment-wise, you have more chance of getting wealthy steadily and slowly over a long period of time.
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Gone Fishin’ – good timing can enhance your returns
In this tricky game, players have to catch fish on a revolving board at the precise moment they open their mouths. In terms of investing, good timing and getting the right deal at the right time make for fatter returns.
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Diplomacy – robust negotiation skills will get you the best deal
Negotiation is the name of this game. Sharpening your negotiation skills and using the most persuasive tactics will get you the best possible deal, whether you’re looking to invest or pitch for money yourself.
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Twister – don’t get tied up in knots with your investments
Contorting your body into weird shapes is fun, but when it comes to finances, getting yourself caught up in knots is anything but. Streamline your investments and seek the advice of an independent financial advisor if things become too confusing.
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KerPlunk – investments can suddenly go horribly wrong
One wrong move and ‘KerPlunk’, the game is over. By the same token, investments can suddenly and unexpectedly go wrong, as this year has shown. It’s important to realize this before you invest and avoid putting all your eggs in one basket.
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Ludo – successful investing requires luck as well as skill
You need luck on your side to win a game of dice-based Ludo. In the same way, while you can minimize risk, successful investing will always require at least a modicum of luck, no matter how careful you are.
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Battleship – you need to strategize to maximize
A family favorite, this naval battle game tests players’ ability to strategize effectively. Similarly, solid planning and strategizing are crucial if you want to get the most out of your investments – you need to think things through properly before you take the plunge.
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Mouse Trap – patience pays off
Ever tried assembling this classic game? The initial set-up requires bags of patience and perseverance, much like investing. Staying in it for the long haul is crucial if you’re aiming to increase your wealth while minimizing any risk.
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Sorry! – ruthless, unemotional investors tend to make the most money
This pretty ruthless game involves pushing your opponents off the board. Investors should adopt a tough mindset ideally and avoid being too emotional. Cold and calculating investors tend to make the most money.
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The Settlers of Catan – building your investment portfolio slowly but surely is the way forward
To be in with a chance of winning, players of this cult game have to acquire resources and build settlements gradually. Investing steadily over the long haul is far less risky than putting all your money into speculative short-term investments.
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Balderdash – know your investment jargon
This bluffing game is all about guessing the correct definition to any number of obscure words. Brushing up on investment jargon is key to better understanding your investments, so make sure you know your derivatives from your dividends.
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Pandemic – teaming up with other investors can be very lucrative
Pandemic is a co-operative board game – players have to work as a team rather than against each other in order to win. Likewise, co-investing alongside other private equity investors can help you spread the risk and increase your returns.
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Carcassonne – seek out the right places to invest your money
In this medieval-themed game, players earn points by placing ‘followers’ strategically on the board. Similarly, figuring out the right places to put your money is fundamental if you’re looking to boost your finances.
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Cranium – be creative and think outside the box
The object of this super-creative game is to circle the board, sketching, sculpting, solving puzzles and acting your way to victory. Mix it up and consider alternative investments such as street art or vintage fashion, which may offer better returns than conventional stocks and shares.
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Guess Who? – improving your memory should help boost your finances
Players have to use their powers of deduction and memory to match a face to a name in this 80s childhood classic. Studies show a correlation between memory skills and wealth, so honing your ability to retain and recall information should help boost your finances and investing prowess.
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Go – keep it simple
Go was invented in China 5,500 years ago. The oldest continually played board game in the word, Go boasts simple rules, which are the secret to its staying power. Complexity doesn’t always equal higher returns, so keep your investments simple.
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Ticket to Ride – learn to use your resources more effectively
This bestselling railroad adventure game involves collecting train cards to build routes connecting cities around the world and calls for sharp resource management skills. Learning to manage your money more effectively is a must if you want to maximize your returns.
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Rubik’s Race – moving around your portfolio when necessary can reap rewards
This clever game is based on the famous Rubik’s Cube, and like the cube, players have to slide around the tiles to solve the puzzle and win the game. Moving around your portfolio when necessary can reap financial rewards.
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Yeti in My Spaghetti – expect the unexpected
Nobody expects to find a yeti in their spaghetti. Unexpected events can have a negative impact on your investment portfolio, so it makes sense to be extra-careful about where you invest your hard-earned cash and prepare yourself for any eventuality.
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