One of your favorite Monopoly tokens is moving way past go and into the abyss. Game manufacturer Hasbro is asking fans to vote for which token to save and what should take its place. But whether the new token is a robot, cat, diamond ring, guitar, or helicopter, it's the money lessons in Monopoly that matter to us. Phil Orbanes has written a new book (due in April) called "Monopoly, Money, and You: How to Profit from the Game's Secrets of Success" that talks about what the classic game can teach us financially.
Orbanes says that Monopoly is more than just a game. He says it is our first introduction to learning how to negotiate and that playing it can improve our ability to handle money and make deals. One example of a business lesson that Monopoly can teach us is how to behave and negotiate.
"A lot of people think the best thing to do in Monpoly when dealing with your opponents is to really take advantage of them. I have found in Monopoly championships that the people who are most easy to get along with are the people who bring about the best traits and the reason is because, psychologically, you don't really mind losing to a player that you admire. But you don't want to lose to somebody who gets you upset or who seems to be double-dealing you or being too aggressive," says Orbanes. "The same is true in real life. Negotiation is something we do every day. We sort of sell ourselves. We have to make sure that we assert ourselves at our job or in any of the activities that we're involved in. And if you do that with a proper amount of care and concern, you build relationships. You don't tear them down."
What's your Monopoly token say about you? The token you choose to play with in Monopoly can reveal a lot about who you are. For instance, did you know players who choose the battleship tend to be more cutthroat? Or that the second least popular token is the thimble? Find out what your token says about you and learn more about their history.
Orbanes says that Monopoly can teach us how to be better negotiators, investors and deal makers. As a long-time expert on Monopoly, he offers one key tip to succeed at playing the game: acquire the orange group and quickly build it to the three house level.
As for the token that will get the boot, he says it's not looking good for the wheelbarrow.
"In the research I've done for my new book, only 3 percent of current Monopoly players favor the wheelbarrow," he says.
Orbanes believes that the cat will be the token voted into the game.
"We found out in our puzzle business that there is four times as much demand for puzzles picturing cats than picturing dogs," says Orbanes.