If you are looking to sharpen your personal finance skills, gamification may be the answer for you. This is the act of turning any regular activity into a game and it is extremely popular. Many people already love playing video games and mobile app games like Candy Crush, so they’re also readily embracing gamification for personal development and self improvement applications. This includes everything from meeting fitness goals, following a diet, or learning a new skill. Would you like to learn more about personal finance and discover new strategies for saving money, repairing your credit, and paying off debt? You may want to try gamification.
Have you heard the news that the digital bank Ally Financial recently turned personal finance into a game? They’ve partnered with Hasbro to merge the beloved Monopoly game into an augmented reality scavenger hunt that teaches financial literacy in a unique way. It’s just one example of how gamification can help you develop your personal finance skills.
Created by the author of the book “Rich Dad, Poor Dad”, the board game Cashflow 101 was designed for players ages 14 and older. The purpose of the game is to teach players about real-world investing using fake money. When playing the game, you’ll learn about the differences between an asset and liability and also understand the power of your financial statement. The game has been discontinued by the manufacturer, but it’s highly rated on Amazon and can still be purchased there. You can also play the online version of the game here: https://www.richdad.com/apps-games/cashflow-classic.
If you don’t feel like downloading Ally’s version of Monopoly, you can always play the classic board game version, which was first created by Parker Brothers in 1935 and is now published by Hasbro. When playing Monopoly, players learn basic money management skills, including balancing cash flow and investing in real estate. They should also become better at understanding the impact of financial decisions. If you’ve never played Monopoly, what are you waiting for? It’s a true classic that everyone should experience at least once.
A name like “Charge Large” may suggest the game is trying to get you to use your credit card as much as possible, but the truth is that this game will teach you how to use credit responsibly. When playing this Hasbro game, you’ll discover how to manage your debt and assets to find financial success. The goal is to upgrade to a “black” credit card, earn $2,500 in cash, and be debt-free.
Which of these games sounds the most fun to you? Which would you consider playing with friends?