The Money Game Book Report Essay Example | Topics and Well Written Essays - 2500 words

The Money Game Book Report - Essay Example I began considering to have a â€Å"budget† and decided to put off some planned but unnecessary purchases. I just opened a savings account with a passbook dedicated for future investment. The course affected me and I would like to answer the questions below with how I understood the subject except on some occasions that it will be best for understanding to lift something from the book. I believe it will best serve the purpose of this course to use my own words as much as possible and also for my better understanding, to conceptualize my answers as I understood it. B. Questions for Book Report 1. Why is the book called â€Å"The Money Game?† The book is called â€Å"The Money Game† because it teaches us to understand the dynamics of how to secure our future from a pragmatist perspective. When I said, pragmatist, it tackles the subject not merely from academic point view, but on its real life application. Moreso, when it also presented the perspective of the both s ides of the coin, the Wall Street view and the Main Street with the author being partial on us the consumers on how we could avoid the financial pitfalls and better secure our future by giving us a hindsight about the other side of the fence. The author has no pretension about the reality on how we should go about in handling our finances, especially in dealing with financial institutions inorder to be financially secured. In fact, a game plan was introduced called Big Dog Playbook II which details the play on we can better our financial position and get rid of debts. 2. Why do many Americans die before they ever have a chance to live? Many Americans die before they ever have a chance to live because they work all their lives and never had the chance to enjoy it. This is because of wrong mindset and priorities and being unprepared for the financial uncertainties and old age. During the most productive part of their lives, they worked so hard to acquire the â€Å"bling-blings† or facade of success and thus raising the standard of their lives but not the actual quality of their lives. They are so mired with work that they did not notice how good the â€Å"rose smell†. As they acquire, they fall to the trap of indulgence, living for today (and more often than not, beyond their means) and not preparing for tomorrow. Such that when financial uncertainty and/or retirement come upon them, many of them are caught unprepared and had to continue working despite retirement age. 3. Who are the three main characters in the book and what impact do they have on your finances? The Invisible Man- The Invisible Man represents the unaccounted expenses that we don’t usually notice because they are just small. But when they are totally accounted for, we will be surprise to learn how much they add up so quickly. The real danger about the Invisible Man is that we do not know that he is already taking toll on our resources. The Money Monster – The Money Mo nster represents our tendency to consume; our endless wants that could never be satisfied. This Money Monster is insatiable and will continue to eat our resources no matter how we much feed it. If we do not tame or put the Money on a diet, we will always be on spending binge without any savings with a mounting debt to surmount. The Precreditor- â€Å"The Precreditor has a growing appetite for our money and will influence law to keep the gravy train going. His hunger has manifested into hundreds of billions of dollars in opportunity cost for consumers