What is taught in the game?
In the Money Mavericks game, your teen will understand:
Happiness - A clear understanding of what he’s motivated by in the short and long term
Income - How to project and plan for upcoming income, even if it’s irregular
Spending - Where he wants each future dollar to go, in order to achieve maximum happiness. These include: Fixed expenses, Discretionary expenses, Short term savings, Long term savings, and Debt reduction
Control - The game provides various opportunities to show him how to follow-through and maintain control of impulse spending.
Surprises - Life happens and there are several teaching moments where your child will have to adjust her plan, based on emergencies, new priorities, and temptations to spend. This exposure to situations to which she’ll be able to relate will plant the seed for how to manage curveballs when they arise in real life. The idea is to expose her to these emotions and scenarios now, so she’ll choose a better course of action in real life.
Your child is exposed to the idea of multiple streams of income, as it can become a critical component to financial independence. This is done through the introduction to entrepreneurship, where the player has the opportunity to start a blogging business based on something he is passionate about. The focus isn’t on writing, but rather helping him connect the idea of generating income by focusing his talents where his passion lies. The game helps the player learn the elements of a business, how they relate to personal finances and balance with his life goals. Concepts he will learn include but aren’t limited to;
Setting a business budget
Juggling work, life, and business time
Marketing Opportunity Cost
Irregular Income
Scaling a Business
Taxes
Finally, throughout the Money Mavericks game and workbook, your teen will encounter several life scenarios, wealth habits and behaviors, terms and concepts to help prepare for the future. The scenarios shared in the game include, but aren’t limited to:
First Day on the Job
First Paycheck
Opening a Bank Account
Emergency Fund
Life Balance (Health, Fitness, Finances, Faith, Relationships, etc.)
Overtime Pay
Buying a Car
Loan/Debt Options
Taxes
College Decisions
Pay Raise
Discretionary Purchases (e.g. clothing, concerts, dining out)
Renting an Apartment
Furnishing Apartment
Credit Card Options
Cell Phone Plans
Entrepreneurship
Groceries
Credit Report
Credit Score
Graduating College
Career Path
Career/Job Benefits
Employment Review
Co-Signing/Lending Money
Pet Purchase
Car Repairs
Charitable Giving
Home Purchase
Cost Benefit Analysis of Purchasing Options
Creating a Will
Risk Management
Career Promotion
Intro to Wealth Partners
Meeting with an Investment Adviser
Marriage
Layoff
Negotiation
Children
Car Accident
Furnace Replacement
Multiple Income Streams
Starting a Business Family
Vacation
Kids Driving (Insurance, etc.)
Funding Kids College
Scaling Business
Empty Nest
Retirement
Wealth building habits and behaviors include, but aren’t limited to:
Intentional Planning
Short-term Planning
Long-term Planning
Daily, Weekly, Monthly, Yearly Activities Goal Setting
Debt Avoidance
Saving for Short Term Items
Investing Early and Consistently
Power of Giving
Importance of Boundaries
Diligence Ongoing
Education/Learning
Relationships
Wise Counsel
Power of Patience
Celebrate Successes
Focus