Picture this – you are a student playing through the PersonalFinanceLab budgeting game, and you get a prompt – do you want to buy an aquarium? The cost is $100.
In the real world, tons of people buy aquariums – it is a personal preference, but maybe you really like looking at fish. This is a Quality of Life decision. But with just a “buy or don’t” decision, it is hard to make that feel impactful for students. This is where the My Apartment feature comes in!
Introducing My Apartment
The My Apartment function is a place where students can see the impact of the decisions they have made throughout the budget game – and make new decisions too!
When students buy some items through the game, they will appear in their Apartment (like the aquarium example above). Bigger decisions have an impact too – like do they want a cheap, shabby apartment, or a more expensive pad.
An example of a cheap apartment – with cracked windows, many roommates, and leaks from the ceiling
An example of a luxury apartment, with two private bedrooms, granite countertops, and private balcony
The apartment is a great way for students to SEE the impact of their financial decisions. Number metrics like “Net Worth”, “Credit Score” and the balance of their savings account are one thing, but in the real world, there is value to one’s Quality of Life too. The essence of Personal Finance is weighing these decisions!
This means they need to be able to show off – and they can! From your class’s Budget Game Rankings page, there is a button next to each student to visit their “Apartment”, letting each student “visit” each other’s apartments to see how they have developed over the course of the game. This is an excellent launching point for class discussions – did students with the nicest homes meet all of their savings goals? And how is their credit score?
The Apartment brings a whole new dimension to the “Spend vs Save” decisions throughout the games – and a whole new level of engagement for students!
-The PFinLab Team