Play and learn: Gamification around Money
We all know it: You don’t play with money! But why? After all, there is so much more to gambling than just fun. It promotes creativity, stimulates ambition and helps to learn rules, recognise strategies, enter into cooperation and achieve common or individual goals.
Classic games such as Monopoly, but also stock market games and all the imaginative coins that we collect as rewards in arcade and other game apps and spend (or invest) in in-app purchases actually teach us the opposite: You should even play with money as long as it is virtual and you learn to consciously collect it for (savings) goals, to multiply it and to spend it in a targeted way. In other words, playing with money and gambling with money are two different things.
Gamification as a growth market
When games are used for learning or explicitly developed or adapted for this purpose, we now speak of gamification. The fact that gamification also serves education is underlined by the results of the Global Education Market Report 2020 by the financial consultants of Merger Alliance. According to the report, the e-learning market is expected to reach a global value of 316 billion US dollars by 2026.
According to the experts of Merger Alliance, one pillar of this growth is gamification, in which elements from the gaming sector are used as a basis for learning stages and learning success. The integration and adaptation of classic game components – i.e. challenges, rewards, competitions, rankings and ever new levels – transfers classic learning content into a familiar, colorful and also individual virtual game world. In this way, the often boring subject matter becomes a match winner when it comes to the game-oriented teaching of learning material.
Money and gamification and financial knowledge with finny-fun-factor
In the Finny Kids App, money and gamification form a meaningful symbiosis, which serves above all to achieve savings goals, to expand financial knowledge, to get together and to motivate. The leather board/ranking list is a special motivation booster to make it to the best list.
The winner’s podium can be reached by collecting coins – true to the money gamification – of course. These in turn are given to the children when they:
– Create savings targets
– Invite friends
– open the learning box and expand your financial knowledge together with mum and dad
– Deposit cash
– Share savings targets with relatives
The more activities children are encouraged to do, the more coins they receive and the higher they climb in the leader board/ranking. Finally, all Finny Kids App friends can see them. All the more reason, then, to become even more committed and motivated to immerse yourself in the world of money, define savings targets, expand your circle of Finny Kids friends and, of course, save money diligently.
In addition to the coins, the ranking list also shows which successes the Top Ten Finny Kids have already achieved, i.e. which big savings goals have already been set, how much of the Sparfuchs and Super Sparer is in each child, how many successes have been achieved by inviting friends and many savings goals have already been shared with grandma, grandpa, uncle and aunt via the family joker.
Seeing the successes of other children awakens one’s own ambition not only to match them, but to outdo them, possibly soon to crown the Finny Kids’ best list and become a money monarch rich in monetary knowledge, so to speak
In addition to the comparison with the best of the respective month, the ranking list also offers each child the opportunity to found their own Finny App league, invite friends to this playful competition and thus, so to speak, to create their own championship.
Recognition helps to get ahead
With the Finny Kids App as the first mobile banking app for children between 7 and 12 years of age, the principle of recognition is the key to financial understanding. The gamification of financial knowledge works particularly well because children can use the Finny Kids App intuitively. The respective applications are self-explanatory and largely build on the existing generic app knowledge of the children.
In this way, technology and application take a back seat and the fun factor in financial matters is naturally in focus. The competitions and challenges focus on creativity, perseverance and strategy: How can I collect coins and thus climb one of the coveted ranking stairs? What tasks do I have to complete and what savings targets do I have to define and achieve in order to celebrate further successes? Which of my friends could I invite and who in my relatives could I
This means that technology and application take a back seat and the fun factor in financial matters is naturally in focus. The competitions and challenges rely on creativity, perseverance and strategy: How can I collect coins and thus climb one of the coveted ranking stairs? What tasks do I have to complete and what savings targets do I have to define and achieve in order to celebrate further successes? Which of my friends could I invite and who in my relatives could I ask for support in achieving my savings goals?
These are all qualities that are fundamental, especially in the appreciative and prudent handling of money: Farsightedness, planning, perseverance, the ability to cooperate and, last but not least, expanding one’s own network.
With a child- and age-appropriate gamification of saving, children are introduced to the world of money in a fun, exciting and playful way.
The Fintune Research team provides you relevant information on financial literacy for children. Learning about money at an early age helps to train reasonable money habits and avoid future debt traps.