Money Game Design Jam

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Slide on the Money Game Design Jam. This was used during the Money Game Design Jam Google Hangout on July 23rd

Slide on the Money Game Design Jam. This was used during the Money Game Design Jam Google Hangout on July 23rd

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  • 1. July 22, 2013 AMT Consumers Services and YetiZen Present The Money Game Design Jam
  • 2. THE PROBLEM: FINANCIAL EDUCATION DOES NOT LEAD TO ACTION Most of the education focuses on financial lessons that do nothing to drive behavior… not to mention are boring beyond belief Financial education needs to focus on driving behavior and be engaging!
  • 3. IMPORTANT CRITERIA FOR YOUR GAME DESIGN  expose users to an environment/framework that enables users to weigh and explore the varying impacts of their financial decisions.  utilize game mechanics that highlight at least one of the following concepts critical to responsible financial decision-making: • Planning (goal setting) • Choice modeling (cost benefit analysis, delayed gratification, time value of money) • Tracking/Assessing • Pivoting (or reworking budgets gone awry) Example Frameworks: Players are tasked with decision points where they have to balance their money versus one of these needs • Time vs. Money • Health vs. Money • Environment vs. Money • Entertainment vs. Money • TBD vs. Money Directional only! Build off something above, come up with your own, or devise an entirely different approach.
  • 4. THE IMPACT: WHAT YOU GET PARTICIPATE AND … earn a chance at $15,000 prize money and use your design chops to bring a new perspective to an industry greatly in need of innovation! Register here: http://moneygamejam.eventbrite.com/ Refer a friend and enjoy a free hour usage of YetiZen private rooms!
  • 5. ABOUT THE PRESENTER Omar Abdelwahed Omar Abdelwahed is a producer, engineer and writer. As an engineer, Omar has 15 years experience leading teams and launching video game and web properties for large publishers including Ubisoft and 2K; retailers such as Best Buy and Musicland; and startups such as PLAYSTUDIOS. Omar's work includes the free-to-play shooter, "Ghost Recon Online," and the biggest NBA video game franchise, "NBA2K13". Omar is currently consulting in mobile games and producing an unannounced mobile spy game.
  • 6. APPENDIX: TRADITIONAL FINANCIAL LITERACY APPROACHES Compound interest, which leads to discussion of saving, Opportunity cost, which leads to smart decision making, Value of education, which leads to wise choices about finding a college and paying for it, Risk, which leads to discussion of diversification and insurance, What money is, which leads to understanding what it can and cannot buy, Time value of money, which leads to more informed purchasing, investing and planning, Cost/benefit analysis, which leads to better decision making, Setting Goals, which leads to desired outcomes, Delayed gratification, which leads to the ability to consume more in the future, Scarcity, which leads to acknowledging limitations and making choices, Inflation, which leads to discussion WHAT THE TEXT BOOKS COVER
  • 7. APPENDIX: TRADITIONAL FINANCIAL LITERACY APPROACHES CFPB’s Financial Education Core Competencies: Core concept Knowledge Action/behavior Earning ................................. Gross versus net pay ...................................................... Understand your paycheck. Benefits and taxes .......................................................... Learn about potential benefits and taxes. Education is important .................................................... Invest in your future. Spending .............................. The difference between needs and wants ...................... Develop a spending plan. Track spending habits. Live within your means. Understand the social and environmental impacts of your spending decisions. Saving .................................. Saved money grows ....................................................... Start saving early. Pay yourself first. Know about transactional accounts (checking) .............. Understand and establish a relationship with the financial system. Know about financial assets (savings accounts, bonds, stocks, mutual funds). Comparison shop. Balance risk and return. How to meet long-term goals and grow your wealth ...... Save for retirement, child’s education, and other needs. Plan for long-term goals. Track savings and monitor what you own. Borrowing ............................. If you borrow now, you pay back more later. The cost of borrowing is based on how risky the lender thinks you are (credit score). Avoid high cost borrowing, plan, understand, and shop around. Understand how information in your credit score affects borrowing. Plan and meet your payment obligations. Track borrowing habits. Analyze renting versus owning a home.