When I was young, I was enamored with video games. I enjoyed the challenge of trying to beat the computer, building my points balance, and finishing the game. It started with games like the original Super Mario Brothers and Contra on the Nintendo game console (NES). After mastering many games, a newer generation console was released, Super Nintendo or SNES.
At the time, SNES was leaps and bounds ahead of the original system. With SNES came the newest version of Super Mario Brothers (Super Mario World). After many-many hours of learning the game, the secret rooms, I finally finished the game and enjoying the journey throughout.
These days, apps and games are more about collecting coins/cash within a game so that you can “improve your inventory” like a new weapon or tool to further advance in the game.
So how does this relate to personal finance? In so many ways. To build wealth the old-fashioned way through saving and investing (the way that I’m doing it), requires many of the same elements of playing and mastering a video game.
Many people have a negative emotional attachment to money which can hold them back.
“We don’t have enough”
“I’ve worked hard for this money, so I can’t risk it on the stock market”
“The stock market is risky”
“Why save when I could be hit by a bus tomorrow?”
Heard all of these before? I know that I have. If you can treat building wealth as more of a game where your financial net worth is a matter of how many points you have built, all of the sudden, checking your net worth on a regular basis becomes fun. Come to think of it, I treat maximizing loyalty points the same way.
Along the way, you will learn the game, learn tips and secrets, and perhaps even finish the game to your satisfaction.
Even after achieving my initial net worth goal, I continue to treat my net worth and wealth building as a game. I continue to use strategies to keep advancing to the next level, collecting as many points/cash along the way (saving), buying inventory to continue advancing (investing) and repeating until you reach the level that you imagine achieving.
Some tips on getting to the next level (wealth strategies):
- How to track of your net worth
- Financial freedom 101
- How to get out of Debt
- Smith Manoeuvre – Creating a Tax Deductible Mortgage
Some tips on collecting points (saving strategies):
- 28 Ways to Save Money
- 4 Ways to get your Credit Score for Free
- How to Save Money with Less Effort
- A Guide to Cutting the Cord
Some tips on building and growing your inventory (wealth building strategies):
- How to Build an Indexed Portfolio
- How to Build a Dividend Growth Portfolio
- Compounding Returns Make you Rich!
- How and Why Asset Allocation Works
Be lighter with your finances and you’ll be surprised on how much further you’ll get in the game.