Our financial literacy classes can encourage practical positive financial behaviors, but beyond this goal, we believe that administering classes strengthens our relationship with clients and the community. We recently piloted the “MoneyGame.”
The MoneyGame incorporates financial concepts like budgeting, savings, and debt management. We designed the game to cater to the unique culture of Honduras, the formal educational levels of students, and to the space and time limits of our class. It is played in pairs. Students use a calendar and paper money to plan for and confront different financial situations that the game throws their way.
Every four rounds, the game requires that players try their luck during “Chance Day”. Each pair of players has to reach into a bag and pull out a little slip of paper with each paper representing an unexpected cost or economic shock. We decided to make “chance” fanciful and comical so as to create an outlet with which to bond with our clients.
The Money Game is exceptional because it touches upon financial concepts while engaging students. Further, the game facilitates a fun and educational learning environment. Because students play in pairs, they are forced to talk through different options and come to decisions together. The use of physical and visual aids makes it easy for students to visualize their financial situation and plan for it. Incomes, expenses and the prices are realistic to their economic environment, thus students can relate budgeting decisions to life experiences.
If you would like learn more about the MoneyGame, then Contact Us. We are more than happy to share!