Financial literacy decision tree game: A system development exposé

Abstract

Poor financial literacy has significant economic implications, with limited savings, insufficient retirement provisions and higher dependency on debt. Concerns about the level of financial literacy among the youth or young graduates motivated this study. The study describes the design of a game to educate young graduates while imbibing life-long personal financial management skills. A system development approach was used to present the information. Scenarios and decisions were developed to guide the student (player) in planning and making decisions about their budget with real-life events or cases. The study will be beneficial to university students to transition smoothly into the workforce and take control of their finances. University authorities and stakeholders can also implement the game design to assist students in gaining financial education before venturing into the working world.