Business Etiquette
Types of food(s) you should avoid when out with professionals.
Messy Food
Acceptable Answers: Garlic/Onions
Experts recommend having at least 3-6 months worth of expenses saved in case of an unexpected event.
Emergency Fund
This app can be seen as the professional version of Facebook.
On a financial statement, this statement represents the pattern of money coming in and going out.
Income Statement
The board game is a tool in teaching what type of literacy to young adults?
Financial Literacy
North America and Europe use this gesture as a sign of respect and professionalism.
Handshake
A general "rule of thumb" used by many to help budget.
50/30/20 Rule
The fraudulent practice of acting as a reputable Company then sending emails/messages in order to get sensitive information.
Phishing
Rich Dad's balance sheet looked like one of the below:
A. High Assets, High Liabilities, Low Equity
B. Low Assets, High Liabilities and High Equity
C. High Assets, Low Liabilities and High Equity
C. High Assets, Low Liabilities, and High Equity
In the the board game, rental properties and investments are all forms of this type of income.
Passive Income
Arguably, the biggest skills required in any profession, especially in Business.
Communication Skills
Another use of budgeting in your daily life besides budgeting your finances.
Budgeting your time
Two other uses for social media beyond socializing and doom scrolling.
1. Research
2. Networking
3. Marketing
This type of income was used to refer to another form of passive income, solely based on a "collection" of "paper assets."
Portfolio Income
Referred to as DooDads in the board game, some of these can also be called a what in real life.
Hint: 2 Acceptable Answers
An Emergency Expense
An Unnecessary Expense
An action that can commonly be phrased as "it's not what you know, its WHO you know".
Networking
Three entities that commonly use/have budgets.
1. Personal Budget(s)
2. Government Budget(s)
3. Company Budget(s)
Everything on Social Media contributes to this and will follow you forever.
Remember: Everything on the internet STAYS on the internet.
Digital Footprint
In the book, the author states that it possible to make lots money and still be broke. What personal habit(s) makes this possible?
Poor Dad Habit(s)
Acceptable: Spending more than you make.
Players learn to manage their money via these two cashflow statement accounts, referred to as inflow and outflow.
Income and Expenses
Studies show that it takes a person this much time to make a judgment about you based on your appearance and presentation.
1/10th of a second
When money invested/borrowed creates more interest on the interest already created.
Hint: FV = PV(1+r)^(t)
Compound Interest
Protecting your personal information, multi-factor authentication, and being wary of what you post online are some examples of this type of personal safety.
Personal Cybersecurity
Robert and his friend Mike originally tried this moneymaking scheme, however they didn’t know it was illegal.
Making/Counterfeiting Nickels
Debt is a tool commonly emphasized in the board game, but can lead to what if it is misused in real life.
Bankruptcy
Acceptable: Overleveraged