5 Video Games That Will Boost Your Financial Literacy
Do your eyes glaze over every time someone mentions personal finance? If you’re ready to take a nap as soon as the subject of money arises, you’ll be happy to know that financial education doesn’t have to be a sleep-inducing activity. There are plenty of financial literacy tools available that are both fun and informative.
Although the topic of personal finance can be a bit dry, it is important to understand how money works. Studies conducted in the area of financial literacy have shown that one’s level of financial knowledge directly impacts the ability to manage daily finances. In addition, those with more financial knowledge also demonstrate an increased likelihood of having an emergency savings fund and are shown to have more household wealth.
So let’s recap: financial literacy could lead to better financial decision making, more savings, and more wealth. Are you convinced? Good. Now set aside a few minutes and play some games!
Here are five of our recommendations.
Financial Football is an NFL-themed video game with a personal finance component. Players are able to advance down the football field every time they answer a financial question correctly. Difficulty levels range from rookie to hall of famer, and quarter lengths range from 5 to 20 minutes. Once you select your team and the opposing team, you’ll be ready to play. The game also has an app for the iPad and iPhone.
This game puts you in the shoes of a celebrity money manager. You are given the task of helping a Hollywood star rein in his or her reckless spending habits. You’ll have fun working on your budgeting skills while helping fictional stars with names like Missy Moolah and Buster Buyin. The game includes a leaderboard so that you can see how you stack up against other players. Do you have what it takes to steer your star away from a money mishap?
3. Bite Club
In Bite Club, you will be given the mission of managing a “day club” for vampires (a night club would drive this customer base away for obvious reasons). You’ll be tested on your ability to manage debt and save for future expenses. Who knows, maybe Bella and Edward will stop by for a drink.
This game was created by the Securities Industry and Financial Markets Association, which specializes in investor education. Players are tasked with investing $10,000 of virtual money. The goal of the game is to test your ability to create a top-performing investment portfolio. In order to gain access to the game, you will have to register and sign up for an account.
Countdown to Retirement tests your ability to save enough money for your golden years. The game attempts to imitate real life by starting with your first job. The challenges then progress along with your career by allowing you to earn promotions and raises. You’ll have a range of characters to choose from, including Phoebe the Physicist and Chris the Cube Dweller. Play this game to see if you’re up for the challenge. Will you retire in style or will you work until you draw your last breath?