Inspire Team

Spending & Savings Game

by for .  
#personal finance
60 +

Goal

This activity engages learners in a game to explore the connections between saving, spending, and unexpected expenses. The focus is on understanding the importance of emergency savings and making thoughtful financial decisions.

Materials

    Instructions

    1. Introduction

      1. Ask learners to share examples of unexpected events that cost people money.

        1. Support them in coming up with examples, such as a lost pair of glasses, a broken cell phone, or a car breaking down.

      2. Emphasize the importance of making choices about saving or spending money and having money set aside for emergencies.

      3. Ensure learners have an understanding of key vocabulary related to this activity, including budgets, emergency funds, financial emergencies, and savings.

    2. Small Group Set up

      1. Inform learners they will play a game featuring day-to-day money choices and unexpected expenses.

      2. Divide learners into groups of three or four.

      3. Pass out one set of "Day-to-day money cards" to each group, shuffled in different orders (see technology considerations for virtual adaptations).

      4. Instruct learners to place the cards face down.

      5. Distribute the "Playing a Saving and Spending Game" worksheet to each student for independent completion.

    3. Game Play

      1. Learners will each start with $300, half in their regular savings account and half in their emergency fund.

      2. Instruct learners to take turns drawing cards, reading the scenario, and making a financial choice that involves adding or subtracting money from their accounts based on whatever decision they make.

      3. Learners add $50 of income each turn, deciding how to split this income between their accounts.

      4. The game ends after each learner has had four turns or all cards have been drawn.

    4. Reflection

      1. Ask learners to answer the reflection questions on the worksheet after the game ends.

      2. Emphasize that there are no winners or losers; everyone makes choices based on their values and rules they set for themselves.

    5. Debrief

      1. Facilitate a debrief using the debrief questions provided below. Invite volunteers to share their answers to the reflection questions.


    Background

    Preparation

    • Print copies of all materials for each learner or prepare for digital access.

    • Print single-sided and cut out one set of the "Day-to-day money cards" for each group of learners or prepare for digital access. 

    Technology Considerations

    If conducting this activity virtually, prepare a digital whiteboard with copies of the Saving and Spending Game worksheet for each learner.

    Prepare a stack of “sticky” notes with one of the day-to-day money cards on each. Place a blank sticky on the top of the set, and instruct learners to draw one at a time for their card.

    Additional Context

    • Everyone makes individual choices about spending, saving, and earning money.

    • Whenever you’re making choices about money, it’s a good idea to think about what you might need in the future.

    • The aim of this activity is to help learners understand that choosing to save money for unexpected events can help us avoid financial problems in the future.

    • Emergency funds are savings specifically for unexpected events that cost money. They are different from other types of savings (i.e. long term savings like saving up to buy a house; or short term savings like saving up to buy a new jacket).


    Tips for Localization

    Tailor the game scenarios to reflect the local context and demographics of the learners, making the situations more relatable.

    Debrief Questions

    • What unexpected events did you encounter during the game, and how did they impact your savings?

    • How did your choices in the game reflect your values and priorities in saving and spending money?

    • Was it challenging to prioritize saving for emergencies over short-term wants? Why or why not?

    • Did the game influence or change your thoughts on emergency funds?

    • What strategies did you use to balance your regular savings and emergency fund during the game?

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