3 Ways That Playing Monopoly Can Teach You to Become Richer and Wiser

"I'm standing on my Monopoly board that means I'm on top of my game"--Eminem

Playing Monopoly is more than a fun way to pass the time. This board game teaches important economic, academic and social lessons. See all that Monopoly can do for you.

Economic Lessons of Monopoly

1. Make smart investments. Much of the game is landing on property squares you can decide to buy. If you invest wisely and improve your property, you'll be raking in rent money later on.

2. Build reserve funds. On the other hand, you have to hold on to some of your cash. You'll need it when you land in jail or have to pay taxes.

3. Understand the role of luck. Just like in real life, you can quickly go from riches to bankruptcy. Take advantage of valuable opportunities and be ready for setbacks. Know that you often make your own luck by being diligent and shrewd.

4. Take risks. Strategic risks will improve your position. Consider the trade-offs and put your money to the best use. 5. Play banker. Take turns playing banker. You'll learn valuable financial management skills and get familiar with terminology like deeds and rent.

"There is no monopoly on becoming a millionaire. If you’re jealous of those with more money, don’t just sit there and complain – do something to make more money yourself."-- Gina Rinehart

Academic Lessons of Monopoly

1. Start with number recognition. Even small kids can join in. They'll learn to recognize numbers by counting the dots on the dice and identifying different denominations of money. Counting out loud makes it easier for them.

2. Improve your arithmetic. Computers do most of the arithmetic for us these days. Try doing some calculations in your head or on paper.

3. Practice reading. Community Chest and Chance spaces provide time to polish reading skills. Assign kids the jobs of reading them out loud to everybody.

4. Increase your attention span. Some games can last four hours or more. Develop your patience and extend your ability to focus.

5. Challenge yourself online. If your loved ones already know all your tricks, play online with new contestants. Pitting yourself against experts will improve your game and keep your education going.

Social Lessons of Monopoly

1. Spend time with family and friends. Sharing time together is the foundation for any strong relationship. Turn off the television and focus on each other and the game. Aim to have fun and encourage everyone to feel appreciated.

2. Follow the rules. Games like Monopoly remind us to follow instructions. Creative play is great but kids also need to be prepared to obey directions in school and in the workplace.

3. Make your own rules. There's also room for adapting the rules to your own situation. Let kids win sometimes to boost their self esteem. Adapt the rules to shorten the game when you need to.

4. Negotiate effectively. Much of Monopoly is wheeling and dealing. Take turns with the Scottie Dog if everyone wants him for their token.

5. Bounce back from adversity. You may wind up going bankrupt or even land in jail. Temporary obstacles can be overcome. When you're down on your luck, hang in there until you work your way back up.

6. Win graciously. Thank the other players if you come out victorious and accept their congratulations with style. Offer a rematch so they get a chance to win too.

7. Lose like a winner. Only one person can triumph in each game so you also need to accept defeat. Give the champ a pat on the back and offer to help clean up. Think about how you can improve your performance the next time.

A good game of Monopoly can last for hours. It's time well spent when you consider how it helps you learn to play with others, improve your math skills, and manage your finances.



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