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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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.
I dig it! Obvi. i’m a huge fan of budgeting, so i’m always interested in hearing new approaches
great post!
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First Time Credit cards and your New Years Resolution
Every day people break through the to the unseen world of credit by getting first time credit cards. To some of us, this is arbitary. Most of us have credit cards and use them everyday. but most of us, don’t use our credit cards to help us organize our financial life and better ourselves. we use them to fulfill our buy now pay later mentality, and let’s face it, this has a very bad effect on our lives. wouldn’t you agree?
This year I am making my New Years Resolution to do a couple of things that all work hand in hand. This is The first time I am doing this. My credit is beyond bad and my credit cards have very low limits on them.
1) Keep better track of my finances. Every day of my life, I spend money. even if it is 5 or 10 dollars for lunch. But what i don’t do every day, is write down how much I spend. why? because it’s annoying. this year, I will write down every single dollar I spend on a white board. It will be easy. i will simply save all of my receipts, and put them in a shoe box under the white board. and when i feel like it, I will go through them and write them on the board. this way I can see what I spend.
2) I will pay off my credit card and have it be my sole use of finance. This way every dollar I spend is recorded not only on my white board, but on the credit card statement i receive through email, and i can view it at any time. At the end of every month, I will pay off my credit card in full. My credit card only has a 500 dollar limit on it, so it will be very easy not to spend beyond my means.
3) I will also write on my white board exactly what I spent my money on. So this way, when I am looking at it, i will say gee, I really didnt ned that kit kat bar, or those cigarettes, and I will essentially be ashamed for spending money that I didn;t need to, because it will be staring me in my face every day.
I have started a blog for my program, and will record my spendings publicly. I invite all of you to join me, as of course this will work if we follow through on it. Anyone who wants to better themself financially should join me, because we are products of our enviornments, and if we all are working on the same thing, naturally together we can become smarter financially. Happy Holidays Everyone, and Here’s to a Happy and successful New Year!