Livin' for the Culture: Teaching Financial Literacy and Equity Using Gamification

Outline

Overview of Financial Literacy and Systemic Barriers (5 minutes)
Explain the importance of financial literacy and how systemic barriers impact financial opportunities.
Emphasize the importance of students understanding how barriers can influence financial success and decision-making early on, helping them make informed choices in their future.

Game-Based Learning Introduction (3 minutes)
Introduce the benefits of game-based learning and how it can engage students in critical thinking around finance and equity.
Provide a brief overview of the interactive activity

Game Introduction (2 minutes)
Explain the game’s objectives, simulating financial situations and systemic barriers students face in real life.

Gameplay (30 minutes)
Divide participants into groups to play "Livin for the Culture."
Participants will play the game to navigate financial situations and obstacles, demonstrating how understanding barriers early on can shape future financial success.

Discussion & Reflection (15 minutes)

Group Reflection (7 minutes)
Groups share insights from the game, reflecting on how barriers impacted their financial decisions.
Discuss how understanding systemic barriers can better prepare students for real-world financial success.

Impact Discussion (8 minutes)
Explore the benefits of game-based learning and ways to implement it in classrooms.

Q&A and Closing (5 minutes)
Summarize key takeaways, emphasizing the importance of teaching students about the impact of early financial decisions and barriers.
Content and Engagement:

Content: Financial literacy, systemic barriers, the importance of early understanding, and game-based learning.
Engagement: Interactive game, group reflection, and discussion.

Time: 60 minutes
Introduction: 10 minutes
Gameplay: 30 minutes
Discussion & Reflection: 15 minutes
Q&A and Closing: 5 minutes

Engagement: Hands-on gameplay, peer interaction, discussion, and self-reflection to highlight key learning points

Supporting research

Al-Bahrani, Abdullah and Weathers, Jamie. "Persistence of the Racial Financial Literacy Gap. Can Parental and Formal Financial Education Bridge the Gap?, https://www.aeaweb.org/conference/2019/preliminary/paper/3ihGHf9h” American Economic Association, 2019.

Federal Reserve Bank of St. Louis. "How Do Americans Rate in Financial Literacy?,https://www.stlouisfed.org/on-the-economy/2018/september/how-americans-rate-financial-literacy"

Hamilton, Darrick and Darity, Jr., William A. "The Political Economy of Education, Financial Literacy, and the Racial Wealth Gap, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2918735." Federal Reserve Bank of St. Louis Review, vol. 99, no. 1, pp. 59-76.

iGrad LLC - Enrich. (2024, February 25). Financial literacy can close the Minority Retirement Wealth Gap. Financial Literacy Can Close the Minority Retirement Wealth Gap. https://www.enrich.org/blog/financial-literacy-can-close-the-minority-wealth-gap-for-retirement-savings/

National Center for Education Statistics. "PISA 2018 Financial Literacy Results, https://nces.ed.gov/surveys/pisa/pisa2018/#/finance/achievement." Select "How Does the Financial Literacy Performance of U.S. 15-Year-Olds Vary by Race/Ethnicity?"

Time. (2024, February 13). Financial literacy is the civil rights issue of this generation. Time. https://time.com/6694236/financial-literacy-john-hope-bryant/