National Cashflow Board Game Competition

I attended the National Cashflow Board Game Competition at Outram Secondary school on Wednesday with a few of my schoolmates. It is an event that promotes Innovation, creativity and Entrepreneurship. Since I am interested in business, this was a really fun and educational experience for me. 

Basically, we were to supposed to play a board game called " Cash Flow " and it was a game whereby you have to manage your finances, get business deals, get rich, and finally buy your dream business.  



( You can play the game online @  http://www.richdad.com/classic )



There were two parts to the game. The first was the rat race. It is a place where we are still receiving salaries, made to pay expenses, taxes and car loans. We also had to make business deals to increase our passive income and top up our. Occasionally, we would have to pay for certain mandatory expenses such as having a new born baby ( Damn I hate this, drained my money >< ), daughter's wedding, Son's College tuition, etc. 

In order to get out of the Rat Race, you have to increase your passive income ( The income you get from the businesses you get ) until it is higher than your total expenses. 

Once you actually get out of the Rat Race, you advance to the next part of the game, the Fast Track, it is where the rich play the game of money. Your initial Cashflow will increase by 100 times and you won't have to pay anymore expenses. 

In order to win the game, you have to either buy your dream business in the Fast Track, OR earn 50 million dollars. 


Getting to the fast track is easier said than done. There were only 3 people who got to the Fast Track and were awarded trophies. I think the problem is that you have lots of expenses to pay in the Rat Race, which drains your cash and prevents you from buying businesses. 

I managed to buy 2 businesses, increasing my passive income to only $340. Yeah I know it seems pathetic but it's really difficult, and there's a time limit to the game. 

I didn't win any trophies, but at least I got my Certificate Of Participation ^^ YEAH. 

It's a bit crumpled ._. 

I will definitely bring this cert to my DPA ( Direct Polytechnic Admission ) interview if I decide to apply for Business. 

The lesson we learnt, that one of the teachers there talked about was that in this age, the one that keeps the most money in their pocket, isn't the most successful or likely to succeed in anything. But it is those who make use of their money to invest SMARTLY on businesses, properties, etc. increasing their passive income, so that they wouldn't have to be stuck in the Rat Race FOR LIFE. 

It has the same concept with my " Work hard AND SMART " Motto :) ( http://yhpworld.blogspot.sg/2013/11/hard-work-is-not-everything.html )

Mr Keith Ng, the founder of Gametize, was also the Guest-Of-Honour of the event. He is a young entrepreneur who believes that effective learning comes from playing. So that's why he decided to create Gametize. It is an organisation which believes in fun learning. 


More about Gametize @: http://gametize.com/index

Mr Keith Ng talked about his success stories, about his life and how he managed to create Gametize. Like any other Entrepreneur, he has failed a lot of times. In fact, he even went bankrupt at one point. But this didn't stop him. He said that it is okay to fail, because it actually improves what you do. 

I remember he said this, " We are living in a society that teaches us that failing is not an option. "  And I totally agree with him, especially in a competitive environment like Singapore. But in life, it is alright to fail because you will know what you lack and how you can improve. 

But of course, you should still try your best at everything you do. Don't fail and say " It's alright to fail. " when you didn't even try. 

I really respect and look up to this guy :) 

Overall, the programme was really enjoyable and enriching, I have learnt a lot about finances and the skills and mindset needed to start a business and run it successfully.