Don’t know people like him?Įrror in judgment #2. Now, he has an income loan, a car loan and unsecured debt.
He didn’t and instead bought your vehicle. He was supposed to use the salary loan to pay off his credit card bills. I’ve a friend who bought a new car on terms which has a salary loan for downpayment.
Many players would declare that they would never make the mistake in real life. Most in the doodads in the online game are small but once in a while the most dreaded doodad card arises, the Boat.Īt $17, 000, the Boat is a ridiculous expense which is reasonably disastrous for the low income professions. Sometimes the expense is justifiable such since fixing a broken toilet or replacing a set tire. Often they are called impulse spending such as when you go to a midnight sale without planning on buying anything but get 4 shopping bags anyway, or buying a watch as soon as you already have 3. These are expenses that will be not included in a monthly budget. Buying a Boat Whenever you Can’t Afford ItĪmong the list of features of the online game is doodads. Let me give out 7 mistakes that people make with money as revealed by way of the Cashflow 101 game.
The Cashflow 101 performance is reflection of real life and reveals a great deal about people’s beliefs, biases and attitudes towards money.Īfter several years of facilitating Cashflow 101 games inside Think Rich Pinoy Money Seminars, I have seen hundreds of players make the same mistakes inside game and then down the road admit that they make the same mistake in real lifestyle. In my opinion, I think the sport Cash Flow 101 is not just a game, it can be a reflection on one’s attitude towards money and dealing.
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