Topic and Goals

Title: Navigating the Virtual Financial Game of Life! Cashflow Quest/Bucks & Beyond (working name): Embark on a financial adventure where teens learn to navigate real-world money scenarios.

Overview:

Welcome to Cashflow Quest, where pre-teens and teens embark on a virtual journey through the financial world. This course goes beyond the basics of making and spending money.

1. Foundations of Finance: In the initial part of the course, we cover essential topics such as checking accounts, savings strategies, budgeting, and planning for college or post-high school graduation. We’ll also delve into credit management, including understanding their first credit card and the process of buying a car/phone or renting their first apartment.
2. Life Simulation Module: Brace yourselves for an interactive adventure! Each teen will receive a personalized avatar and a reality profile. Their job, marital status, kids (or no kids), salary (or hourly wage), and other life details will shape their financial journey. They’ll face pivotal decisions like how much to allocate for rent, car expenses, phone bills, and groceries. But watch out! Unexpected obstacles—like housing repairs, medical bills, and student loan payments—will challenge their financial acumen.
3. Building Financial Assets: Early financial literacy pays off! Teens who grasp these concepts will reap benefits like reduced credit card debt, lower interest rates, and higher savings rates. We’re here to empower them with the confidence and knowledge needed to navigate their financial voyage.

Proposed Elements

Module 1 – Foundations of Finance

• Pre-assessment to gain knowledge they already have. – this is where we introduce the learning objectives of module 1.
• Materials include an overview/introduction to banks vs. credit unions, checking, savings, budgeting, introduction on credit etc.
• Matching Learning activity –financial basics (later the learner will be able to access a financial “glossary to use post completion of the eLearning course)

Module 2 – Life Simulation

• Pre-assessment to test their existing knowledge on differences between a renting/buying, buying a phone/payment plan, credit cards, etc. – this is where we introduce learning objectives of module 2.
• Avatar and reality profile
• Choose their own (financial) adventure – be presented with option to buy/rent a house, buy a used car in cash or get an auto loan, etc.
• “Adulting” sucks obstacles learning activity – be presented with various financial “wrenches” where they have to lend on their knowledge and foundation they built in module 1.

Module 3 – Building Financial Assets

• Summative assessment – what did they learn from their avatar profile and the financial decisions they made? What would they do differently?
• Based on how they did in module 2, they will be able to unlock additional activities that will build on what they already know and have learned and encourage continued financial education beyond the eLearning course.
• Learning activities could include financial planning for every life stage and understanding credit – simulating and posing questions on if they made this purchase with a credit card and carried a balance, how could this affect their credit score? Positively or negatively?

Timeline