A new game teaches financial literacy and decision-making
A new game teaches financial literacy and decision-making
A new game teaches financial literacy and decision-making
July18, 2022
By Kara Norton
Summary
The online game, launched in February, lets students practice making financial decisions and examine the behaviors that influence how money is spent.
In contrast to other financial literacy games, the lab focuses on behavioral principles related to spending and saving, and provides context for applying new knowledge to build healthy financial behaviors.
The 2015 PISA survey found that one in five 15-year-olds in the United States lacks basic financial literacy skills and knowledge of key concepts required to make financial decisions.
Many American students gain financial knowledge by observing and learning from their parents, and such financial skills are strongly related to socioeconomic status.
While players of NOVA's Financial Lab probably will not need to sneak their pets into a concert or draft a retirement plan for them in real life, doing so in an interactive game can help them learn about concepts like budgeting, interest, and debt.
Players earn a trophy for their pet and a tip for how to apply what they've learned to making financial decisions in real life.
LAUNCH THE FINANCIAL LAB. Visit the Financial Lab collection on PBS LearningMedia which includes a lesson plan, a teaching guide with instructions for navigating the game, and discussion questions for several of the videos in the game.
Reference
Norton, K. (2022, July 18). A new game teaches financial literacy and decision-making. Retrieved July 25, 2022, from https://www.pbs.org/wgbh/nova/article/financial-literacy-education-game/
Tag
Games, financial literacy, decision-making, behavior, budgeting, interest, debt,news
Category
Games, Financial Literacy