Financial Education Board Games

Learning through play and learning by doing.

Simulation learning allows us to practise and develop real-world skills in a safe, risk-free environment. When we simulate financial decisions and transactions, we can practise making the necessary evaluations, calculations and investments, without the risk of losing real money, if we make a mistake.

We develop the thinking skills and decision-making skills we need to evaluate opportunities in the real-world. We become motivated to start looking for them in real life!

Financial board games offer engaging, interactive experiences, which are fun and memorable for the whole family. Positive emotions also promote learning, another win!

In an era, where families are more and more fragmented and each of us is captivated by the endless content on our devices, board games restore the vital face-to-face connections that we all need. They build our family relationships through shared experiences.

Board games not only develop the financial skills and the financial vocabulary we need to develop, but also many of the essential character traits which are vital for success in life: honesty, integrity, good sportsmanship, turn-taking, rule-keeping, reading carefully and paying attention to detail and more. Players may even require conflict resolution-skills at times!

Neuroscience shows that positive emotions are essential for learning.

"Sometimes we forget how important pleasure is to the ability to think well. A mind at ease (seeking both pleasure and meaningful risk) is relaxed and alert." ~ Julie Bogart, Raising Critical Thinkers: A Parent's Guide to Growing Wise Kids in a Digital Age

Research using neuroimaging and brain chemical measurements reveals that a learner's comfort level significantly influences how information is processed and stored. When students are motivated, engaged, and experiencing low levels of stress, information moves smoothly through the affective filter in the amygdala, leading to enhanced cognition. This results in deeper connections and more frequent 'aha' moments.

Neurologist, Dr Judy Willis reports that numerous studies confirm that learning is most effective when it is both enjoyable and relevant to students’ lives, interests, and experiences. Pleasure in learning triggers the release of dopamine, a chemical that activates memory centers in the brain and promotes the release of acetylcholine, which boosts focused attention.

Dopamine plays a key role in motivating learners by encouraging them to pursue rewards, driving the learning process. In short, the release of 'happy hormones' is essential for optimal learning.

Instead of just reading about business or the stories of others, using financial board games offers an immersive, semi-realistic experience. It stimulates the senses, causes players to think critically before acting and this makes the experience more effective and enjoyable.

It helps players develop confidence and competence in their financial decision-making. They get to do-it-themselves!

"The personal meaning a gamer makes for themselves through game play fuels their eagerness to problem-solve and attack bigger challenges." ~ Julie Bogart, Raising Critical Thinkers: A Parent's Guide to Growing Wise Kids in a Digital Age

In real life, bad decisions or unsound investments can have catastrophic consequences. Simulating real-world decisions in financial board games allows players to take calculated risks without the fear of failure or serious repercussions. Players can experiment and learn from their mistakes and improve their game as they progress.

They can also watch and learn from other players and their successes or failures.

"Playing a game is the voluntary attempt to overcome unnecessary obstacles." ~ Bernard Suits

You should set aside some time to discuss the lessons learned by and from all the players after each board game session. Reflecting and evaluating play is also a useful learning activity.