Using Games to Teach Financial Literacy
At Skill-Life, we not only want to teach youth financial literacy, we want them to have fun while they learn. Just taking a financial text book or curriculum and putting it on the Internet does nothing to harness the true interactive power available in a game-based learning environment. The very rules of the game must reward adherence to correct principles and concepts taught.
CentsCity engages the student beyond a mere information intake by “learning through doing;” players are engrossed in consequence-driven and active learning.
When “Video” or “Computer Games” appear in the media, it generally leads to a negative backlash. What is not mentioned is the tremendous power Serious Games (education, activism, artistic expression, and training) have. Games can open the door to enormous potential and possibilities. CentsCity provides the great “head fake” in financial education. We give youth a game to play, and while they are focused on playing it, they end up learning about everything from checking and savings accounts to compound interest to investments.
CentsCity presents financial education in a different way than traditional educational materials. The information is ever-present and the player is able to explore and interact with it in the way that best suits his or her learning style. The player is engaged in game situations where they must act and follow sound financial principles in order to be successful. They care more about the experience because they put themselves into the game.
Games engage the learner beyond traditional methods. James Gee, PhD from Arizona State University said, “Video games represent a process… that leads to better and better designs for good learning and, indeed, good learning of hard and challenging things.” Due to the player’s high level of engagement and personal investment, information retention increases dramatically.