Gamification – a term used to describe the approach of using games to promote learning and training – has exploded over the last few years, especially with the addition of online learning. But does it really improve learning outcomes?
Actually, according to a study review done in 2022 titled “Learning through Play: Gamification of Learning, A Systematic Review of Studies on Gamified Learning,” it does. While more studies are needed to understand the full capacity of gamification, the review says the level of engagement increased significantly, thus resulting in student motivation and participation. Anyone who has been in a classroom recently will tell you that student motivation and participation are huge wins.
So what does this have to do with financial literacy? Talking about finances can be a dry subject. And for someone who doesn’t have a strong financial background, it can be intimidating.
Enter Next Generation Personal Finance (NGPF). This website hosts a plethora of online games, free curricula, and other resources geared toward teaching financial literacy to students. Many of these online games can be done individually or with a group and can take anywhere from 5-20 minutes to play. Additionally, teachers (or librarians!) can access mini units or full semester and/or nine-week courses that are ready to go – no prep needed!
Check out the website: https://www.ngpf.org/
I decided to test my own knowledge and took a chance at one of these games. Bummer! focuses on buying insurance. Players get four rounds to purchase different insurances and hopefully end with a positive balance in their account.
In the first round, I was asked to purchase pet insurance. The screen gave me different choices of insurance premiums and coverages ranging from basic to deluxe. After choosing a plan (and having that cost deducted from my total), I was then asked if I wanted to purchase any additional coverage (snoot care, wellness, and corncob protection). Once I had my insurance chosen, it was time to spin the wheel. In the first spin, I landed on a BUMMER! My pet was sniffing around at the park and ran into a porcupine. Because I did not purchase snoot care, none of my insurance covered the bill. Next spin – this time just a little bummer. But check out this screenshot:
What kid (or kid at heart) would not chuckle over a “Poop Poop Hooray?” The round continued for 4 spins. The last spin landed on a trivia question. Getting it right, I was rewarded with $100 added to my total.
Round 2 followed a very similar pattern, this time around renter’s insurance. Check out these add-ons:
I loved the fun “scenarios” they added to mimic real life (well, maybe not aliens). I ended the round and moved on to Round 3: Car Insurance.
Round 3 upped the ante. Now instead of just basic through deluxe choices, I had to look at the options for liability, uninsured, comprehensive, and collision coverages. As luck would have it, on my third spin, I hit a deer (was I driving in ND?) The game then showed me the breakdown to fix it.
Round 4: The Big Kahuna – brought all of it together. Once again, I had to go through the options for each insurance from the other rounds. This time the spinning wheel had a lot more options and included more chances to spin. The game’s ending was a little anticlimactic with a congratulations page; however, I actually had fun and did learn some things along the way.
The website has many more games to choose from. I encourage you to try one. Maybe even use one for family game night!
Sources:
Nair, S. & Mathew, J. (2022). Learning through Play: Gamification of Learning, A Systematic Review of Studies on Gamified Learning. Journal of Information Technology Management, 14(1), 113-126.
ND State Library Blog 