THE GAME-CHANGING GUIDE TO SMARTER FINANCIAL DECISIONS Through vividly illustrated game play, Monopoly, Money, and You shows you how to manage real-life financial challenges using lessons from the iconic board game. You'll improve the critical skills it takes to succeed fi nancially, including: CASH MANAGEMENT * DIVERSIFICATION * NEGOTIATING * DEAL-MAKING * ANALYZING OPPORTUNITIES * CREATING A BUDGET * REDUCING DEBT * MAKING THE BEST OF LIMITED CHOICES * KEEPING YOUR COOL IN TOUGH TIMES "[Orbanes] reveals tips and life lessons that are useful to everyone, from high schoolers getting theirfirst credit cards to Wall Street traders looking for an edge in their next negotiation." -- KEVIN TOSTADO, producer and director of Under the Boardwalk: The Monopoly Story "Monopoly became a part of my life the moment my father, Robert Barton--then president of Parker Brothers--acquired the game in 1935. Now, all these years later, Philip Orbanes reveals what we've all sensed since then--the game is replete with solid financial lessons." -- RANDOLPH P. BARTON, former president of Parker Brothers "As Philip Orbanes says, Monopoly teaches you two N's: numbers and negotiation. Numbers are vital to financial success, be it in your business, career, or personal life. And negotiation is really the acquired skill of selling effectively, a skill you rely on daily." -- BOB REISS, founder of 16 start-ups and author of Low Risk, High Reward PHILIP E. ORBANES is the acknowledged global authority on Monopoly. The former director of creative development and senior vice president of research and development at Parker Brothers, he is a founder of Winning Moves Games, which specializes in relaunching classic games from Parker Brothers and Milton Bradley, in addition to developing new games. PHILIP E. ORBANES is the acknowledged global authority on Monopoly. The former director of creative development and senior vice president of research and development at Parker Brothers, he is a founder of Winning Moves Games, which specializes in relaunching classic games from Parker Brothers and Milton Bradley, in addition to developing new games. MONOPOLY, MONEY, AND YOU HOW TO PROFIT FROM THE GAME'S SECRETS OF SUCCESS By PHILIP E. ORBANES The McGraw-Hill Companies, Inc. Copyright © 2013 Philip E. Orbanes All rights reserved. ISBN: 978-0-07-180843-9 Contents ACKNOWLEDGMENTSGETTING READY TO PLAY THE GAMERETURN TO MARVEN GARDENSTHE GAME'S LESSONS AND REAL LIFE1 MONOPOLY MAKES YOU THINK ... ABOUT MONEY2 THE BOARD AND WHERE YOU STAND3 THE RULES WHY IT IS ESSENTIAL TO LEARN THEM4 GAME ONE FRIDAY NIGHT MONOPOLY5 THE TOKENS WHO ARE YOU ANYWAY?6 THE DICE ROLL WITH THEM7 THE DEEDS CONVERTING CASH WITH THE AIM OF GROWTH8 THE BUILDINGS UPPING YOUR RETURN9 GAME TWO 2009 UNITED STATES CHAMPIONSHIP10 THE CARDS EXPECTING THE EXPECTED11 THE PLAYERS WHO ARE YOU UP AGAINST?12 THE CLOCK YOUR GAME PLAN13 GAME THREE 2009 WORLD CHAMPIONSHIP14 FUN REWARD YOURSELF FOR ACCOMPLISHMENTAPPENDIX A OFFICIAL MONOPOLY RULESAPPENDIX B SECRETS OF SUCCESS SUMMARYBIBLIOGRAPHYINDEX Excerpt CHAPTER 1 MONOPOLY MAKES YOU THINK ... ABOUT MONEY It goes without saying that it takes commitment if you want to become good atanything. That means a lot of practice, trial and error ... and education. Yes,it takes all three; there are no shortcuts, especially when money is involved.I've seen many a brilliant academic mind, hired at a high level into a firm,really muck up its business. I've seen laborers build a good life by virtue oftheir own hands, but never figure out how much more they could make if theytrained others to do the hard work for them. I've seen doctors and lawyers buildflourishing practices, earn upwards of $750,000 a year, and fall deeper anddeeper into debt. Why do these mistakes occur? I think it's because most of us receive verylittle—or no—practical training in financial management. (It's beensaid that there is no difference between theory and practice ... untilpractice.) We try to learn as we go and often endure the consequences ofmistakes: budgets out of whack, an inability to see the merits of doing withoutnow in order to reap a reward later, not understanding the difference betweensaving and investing. Worse yet, we become vulnerable, prone to listen tosilver-tongued individuals intent on separating us from our money through thelure of a "sure thing." By the time we recover from basic avoidable mistakes,we're in the hole and need to devote more of our financial resources just to getback to breaking even. I've been there. Imagine being challenged to operate a giant construction crane, having only readthe owner's manual before being thrust into the operator's seat. (Okay, maybeyour uncle, a retired forklift operator, gave you a few vague pointers.)Suddenly, the controls are in your hands and you're on your own. Do you thinkyour first lift would go smoothly? Or are you more likely to drop the load? That's what handling money is like