[Natfinwellness] How to run a "Game of Life?"

[Lucente-Cole, Gina]

Hello Kate,
Last summer American Student Assistance worked through our SALT program to deliver a money management workshop to 200 interns at a large financial organization.  The program focused on five core subjects: protecting personal financial information, limiting debt, accruing positive interest, and noting expenses and savings.  The first half of the workshop covered the five core subjects, and the second part was a financial game called "Don't Break the Bank." The goal of the game was to apply money knowledge to real-life scenarios.

Setup:  Groups of 10 students. Each table of 10 students worked as a team, and was provided budget.
Goal:  Maximize savings through a series of money decisions.
Format:  Each group had a different starting budget, and would make financial decisions from a multiple choice list.  The teams discussed the best financial decision for each round, and also had to deal with a series of "wild cards" that listed a situation that had a positive or negative impact on the budget.   An 'accountant' in each group kept track of their funds.
The team with the most money at the end of the game was declared the winner.

What needs/wants were represented?
We focused primarily on discretionary spending items.

*         Recreation

*         Clothing

*         Music/Movies

*         Hobbies

*         Gifts

*         Food

*         Technology

*         Health/Beauty

*         Extracurricular/Campus Activities

What forms did you use for the tables? for the students?
Plain paper and pens to track simple budget items to earn, spend, or save.

How did you come up with pricing?
We checked prices online and also worked with our interns for their perspectives on what prices for various items would be considered frugal or a splurge.  Getting input on prices, as well as what is cool or not cool was important for us to make this game as close to real life as possible.

What were your rules?
See above under "Format."

How many people does it take to man?
For 200 students we had 7 people.

What props will we need?
Powerpoint presentation to display the rules and game questions.
Printed starting budget handout at each table.
Printed "Wild Cards" at each table.
Pens and note paper at each table for tracking the budget.

Good luck with your game!

Gina lucente-Cole, AFC(r) /  financial Education consultant
800.999.9080, ext. 4655  100 Cambridge Street Suite 1600 Boston, MA 02114

P 617.728.4655   E gcole at asa.org<mailto:gcole at asa.org>

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