Just downloaded a fun free app game (available for Apple and Android) that takes a great approach to teaching about debt. It's called "Debt Empire" and you play a loan shark who starts with a small payday loan business and gets a lot bigger as people pay the interest. The cutest part is the ability to add various hidden fees and costs - like loan initiation fees - to boost your returns.
trailer - might not autoplay here
The aim is to get kids to understand how nasty debt is, and how many ways there are to rip you off. By playing the evil (but mostly totally legal) lending businessman, and seeing how quickly he gets rich loaning stupid people money, the kids understand the idea is not to be on the other side of that equation. It was created by the NZ Government Commission for Financial Capability.
Review:
http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=11818732Debt Empire is a game designed to help kids learn about debt and tricks of the trade - so they never fall for them in the real world.
Our client, the Commission For Financial Capability, wanted to reach young audiences for whom debt was increasingly becoming normalised in their every day life.
Debt Empire, is an idle, clicker-style game that contributes to lifelong learning and confidence around financial decision-making. Through gameplay students learn financial capability, critical thinking and problem-solving skills. Set your students the challenge of competing for debt domination and help them make informed decisions around personal finances at the same time.
