Personal Finance Game

Posted on October 18, 2008
Filed Under budget, debt, emergency fund, plan |

Managing your budget is not child’s play but making it a game might take the fear out of the word budget. The following is a game that I developed that can be played for a day, a week or a month. You earn points by making smart financial decisions. You can play it alone or with your family members.

The object of the game is to earn points by making smart financial choices. Points are based on the decisions themselves not the amount of money so this game can even be played with children on an allowance. If playing alone, you will need to set a point goal such as 250 points. If playing with family members, designate a period of time and the person with the most points wins the game. Players can also lose points by making unsound financial decisions.

To play, keep track of what you earn and what you spend during the designated time period.

Strategy Points

10 points can be earned by:

Writing down your planned expenses
Making a list of debts
Writing down your expected income
Marking each expense as Necessity or Perk
Marking each expense as Static, Reduce or Eliminate
Writing down a way to increase income
Writing down a way to decrease an expense
Determine what your living expenses are for the designated time period. (Living expenses include housing(mortgage, rent, utilities), food, transportation and medical expense.)

Finance Points

25 points can be earned by:

Putting 10% of all income into savings.
Actual Decrease in an expense from planned.
Actual Increase in income from planned.
Reduction of each expense marked perk.

50 points can be earned by:

Elimination of expense.
Putting the same amount of money in savings as your living expenses for time period.
Earning income from a new source.
Making an extra payment on a debt.

Points are lost by:

25 Points

Spending money on anything not listed on your planned expenses.
Decrease in income.
Spending more than 15% of your income on expenses marked Perk

50 Points

Buying anything on credit.
Taking money out of savings.

At the end of the time period, total up points earned and subtract points lost. The player with the highest total points wins the game.

Have fun! I’d love to hear comments, feedback and suggestions on playing the game or any additional ways to earn or lose points.

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Comments

3 Responses to “Personal Finance Game”

Denise (15 comments.) on October 18th, 2008 11:25 pm

I like the idea of making finances a game but that’s a little complicated for me, I think. However, I might take the basics of it and change it a little and make it my own. It might be fun! Thanks.
Budgets are Sexy (1 comments.) on October 19th, 2008 9:42 pm

I dig it! Obvi. i’m a huge fan of budgeting, so i’m always interested in hearing new approaches great post!
Moments of Fame « Funny about Money on October 20th, 2008 10:19 pm

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