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Financial Overview Kit

A visual tool that can be used for financial literacy game and financial coaching

Photo of André Fernandes
29 17

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Who does this idea benefit, who are the main players and what's in it for them?

Based on Methokit principles, the idea is being designed to be flexible enough to be used by several targets, such as children, teenagers, adults, NGOs, schools and teachers. Throughout cards, the game is intended to help the players ask their own questions and feel as their job to get the answer.

How is your idea specifically using the power of communities to improve financial opportunities and resources?

The idea suits the opportunity to approach financial literacy through a playful and visual way, as well as to carry it on personal planning as the individual prefers to use it.

What early, lightweight experiment can you try out in your own community to find out if the idea will meet your expectations?

As defined the aspects to develop the card game for financial literacy, it's possible to test the possibilities to work on.

What skills, input or guidance might you be seeking from the OpenIDEO community to help you build out or refine your idea further?

Game development, concept development, children, psychology, education, coaching, personal development, graphic design

This idea emerged from:

  • An organization

Inspired on the idea Methodkit: inspiring concept for game development, posted during the Research phase, Financial Literacy Kit aims to be a playful, visual and practical way to approach finances and money. The IDEO Method Cards is another inspiration!

By using the cards, as presented on the pictures attached, the purpose of the game is to explain to the player what to do in a simple and straight language, instead of telling him/her how to do. 

Throughout crucial information of relevant aspects regarded money and finances, the cards are useful to provide support and let the player be creative, reflect and consider his/her roles and responsibilities towards his/her financial situation - and catalyse discussions. The cards serve to help the persons who are playing the game to visualize what financial aspects to prioritize and what’s missing considering their finances.


What are the important questions to answer about finances and money? Maybe it's the first step question to reflect before map all the aspects to approach with the cards.  Let's consider what questions and aspects about the following targets:

  • children: provoke on how they could earn money, how to save the money? how they can help others with money? how to spend smartly?

  • teenagers: provoke on their purpose and future objectives, what career to choose? what to consider when analysing money and career? what steps to follow to their dreams?, what competences, skills and experiences are necessary?

  • parents: stimulate conversations about money, review the financial habits of the family, are the parents being a role model on money and finances? how to guide their children to make responsible decisions? how to think about money?

  • young/adults: provoke them to reflect about money and investments, on how to achieave their goals and define their purpose, how to manage their money and goals? how the money impacts in other areas of my life?


Before develop the game

Before build a Financial Literacy Kit, what questions come to your mind? Feel free to add new points of view! Taking the cards as a base for the game, we could start on the following questions:

  • What aspects would we consider regarding financial literacy to develop a Methodkit game?

  • How do you imagine a game with cards for financial literacy?

  • How the cards can catalyse strategic conversations about finances and money?

  • How the cards could help to inspire new behaviors?

  • How the cards could help to analyse a current financial situation?

  • Any other question that’s missing?


From a feedback given by Chris Becker, come the following question and suggestion:

  • How to bring in broader appeal past those who can self-identify their need for such a tool or  guiding principle?

  • Suggestion: 1) design a series of questions, "How to build the future of your community?", for example; 2) pique curiosity; 3) help them to find the solution 


Brainstorming! 

What aspects would we consider to develop illustrated cards for Financial Literacy Kit? (feel free to add as much as you want the way you prefer, writing, drawing, etc!)

  • Expenses

  • Income

  • Investments

  • Acquisitions/I want to buy

  • Experiences/I want to do

  • Competences to develop/what can help me? (Education)

  • Assets/income sources

  • Negative habits

  • The “WHY” question/why am I doing it?/is it connected to my purpose?/is it supportive to my objectives?

  • My purpose/what has a meaning for me beyond money?

  • My objectives

  • What’s necessary to maintain if I buy X object? How much will it cost me?

  • Discipline/monitor expenses/is it useful this X I’m paying for?

  • Beliefs/are they helping me to my purpose and dreams?

  • Create value/contribution

  • Mastery/competences/expertise/skills/experiences/talents

  • What’s unnecessary?/what do I have to eliminate to achieve my purpose and dreams?

  • How did I create this situation?

  • How can I serve?/what problems can I solve? (considering demand, supply, quantity and quality)

  • Solutions/how to solve my problems? What actions to take?


Feedbacks and suggestions are welcome! If you're interested to prototype this idea, let us know, so I can add to the team.


Considering the feedbacks taken along the comments and thinking on what concept could I draft for a financial overview game, an idea came to combine the Methodkit cards, the Dragon Dreaming methodology and the board game. An extra inspiration came from Denmark with the game SNAK, which aims to stimulate meaningful conversations. Why not inspire meaningful conversations about finances and money issues?

From the Dragon Dreaming method, we can imagine a game divided in the following phases: Dreaming, Planning, Doing and Celebrating. And we can organize cards for guide the players for each one of these 4 phases, like shown in the pictures below. Attached, there other pics explaining the cards.

Groups of cards by category


What concept could we imagine to a board game? 

  • Maybe start with a limited amount of money/token and the player decides what he/she wants. 

  • He/she plans how to spend the resource available and how to earn extra resources.

  • He/she plays dices to sign the next steps, simulating risks and opportunities.

  • Take steps along the 4 phases winning and losing by luck.

  • The cards are used to reflect on the challenge and steps to take.


Image title


Examples of cards for the Planning phase



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Attachments (2)

Prototype Methodkit.docx

Some details of the prototype

Methodkit prototype.pptx

If you're intested in prototype, check this PPT guide!

29 comments

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Comment
Photo of OpenIDEO
Team

Congratulations on making it to the Financial Empowerment Challenge Refinement phase, Andre! You’ve done an amazing job building on research, building a team and building out your idea, and we can’t wait to see how it develops in the Refinement phase!

We’ve loved all the visual mockups, and as you’re probably already thinking, we think this idea is very ripe for prototyping! How might you test what you’ve already developed with people from your own community? Who would this first set of users be? What would be their incentive for engaging with it? You’ll learn so much from putting the deck in front of real people – even if it’s not complete! We’re also eager to learn more about potential next steps for implementation. What would you need (in terms of teammates, partnerships, support) to launch the kit? What are the challenges you foresee? And how will you define and measure success? You’ve done an inspiring job collaborating and incorporating feedback, and we’re looking forward to seeing how this all plays out in the Refinement phase! Don’t forget to check out our Resources page (https://openideo.com/content/resources) and these tips for Refinement (http://bit.ly/oi-refine), too.

Photo of Patricio Toussaint
Team

Hi Andre:
I really like your idea! One question if your target market is wide, maybe when going forward with children or teenagers a way to engage them more it could be to make it digital? Have you think about that? Maybe it could engage a little bit more certain people. Creating and atmosphere of competition between users could make it more interactive and more engaging. It is just an idea that maybe could be applied and offer as an option...

Also Andre if I could get your feedback I would appreciate it! Great idea! hope too see more updates!!

https://openideo.com/challenge/financial-empowerment-challenge/feedback/saastot-the-savings-reminder

Photo of André Fernandes
Team

Hi Patricio,
I didn't think think about a digital format. It's an interesting suggestion to engage children and teenagers, that's true! Even when the product doesn't have a totally digital concept, it's necessary to think about how to promote online in one way or another.

I added a comment about SAASTOT!

Photo of Maddie Wiener
Team

Hey André- Love the progress here! Would be great to see some user experiences, to get a better idea of how the game works and specific examples of the outcomes. Look forward to reading these!

Photo of André Fernandes
Team

Test has been my struggle, as people didn't engage to play and make a test. Let's see what I can do on next days.

Photo of André Fernandes
Team

I've been struggling to test in real life, to find some persons and simulate. Let's see what I can do on next days. In any case, I'll update

Photo of Shane Zhao
Team

Fantastic updates and rocking visual mockups guys! Have you put together a test run of the Financial Overview Kit with people from your local communities? We'd love to hear what type of feedback you might get when this prototype is played out in real life. Looking forward to how this idea might iterate during the rapid feedback loop from users!

Photo of Geronimo Carlo Ramos III
Team

Hey Andre,

Awesome product idea! Loved reading the development and feedback of the concept. One thing I was waiting to come across was the question of financial savings in times of family emergencies or unforeseen circumstances. From my experience with my family and the 07-08 financial crisis, I think it would be immensely valuable to include some cards in their regarding such circumstances. Just a thought!

Photo of André Fernandes
Team

Hi Geronimo, I didn't think about savings of family emergencies or unforeseen circumstances. Great to remember, thanks for this feedback! Feel free to give any suggestion! I'm always checking the comments.

Photo of CYG consulting
Team

Hello Andre,

are their any additional features? Toolkits and cards games are more often seen lately, very often to develop skills and competence. Most of the companies, I know, offering cards, developed during trheir prototyping phases. What proof of concept is behind your card game? Have you already made experiences with card games for educational purpose?

Photo of André Fernandes
Team

hi Stephan, I still need to carry on the prototype ahead. Until now, I have in mind some game to provoke the player to reflect about finances, as Methodkit already has been working. The idea of the cards is not to give a definite answer, but to provoke the player to find his/her answer.

Any suggestion/feedback is welcome. If you have any experience to share, feel free to share it!

Photo of Lynda
Team

Hi Dan
I was also thinking something like monopoly, had not considered the unrealistic aspect of life not costing anything though. Wondering if you can also incorporate part of the game where you need to earn a wage other then receiving money from just passing Go.

Photo of Dan Monaco
Team

Hi guys,

This game sounds like it has a lot of potential. Is it possible to use this to expand the idea of a deck of cards to a full fledged board game? I have in mind a modified version of Monopoly. If you think about Monopoly, it doesn't mimic financial management in real life. The money you are paid by people is only used to buy more property. It doesn't earn interest or an investment return while it is in your hand and you can't spend it on anything else beside property, such as living expenses, emergency situations that come up, education, clothing, vacation. Also, when you move around the board in Monopoly it doesn't cost you anything but when you move around in real life (commute to work) there is a cost associated with it (gas, car payment, etc.) After so much time of playing the clock will run out and it will be time to retire and whoever has the most in net worth could be the winner of the game.

Thoughts?

Dan

Photo of Trevor z Hallstein
Team

Hi Andre,

Along the lines of some of the comments for the target audience, perhaps you can take the 'Brainstorming' list (Expenses, Income, Investments, ..., Create Value/Contribution, Solutions/how to solve my problems? What actions to take?) and see what clusters of the groups that you came up (children, teenagers, parents, young/adults) would map to the content areas from the Brainstorming part.

Photo of Joe Silva
Team

I think the method kit is a great model and avenue for conversations about financial literacy. I'm interested to see where it goes.

I do have one suggestion: please be mindful of how the "behavior change" card uses the picture of a dog on it. For me, it sends the message that the method kit is in the business of selling obedience and not self-determination.

Photo of Ola Möller
Team

To the contrary. MethodKit is not about obedience, just a loose framework. The icon is more a humouristic take on behaviour change.

Think that many tools can be used for obedience tho. Heard about facipulation? -> http://stuffexpataidworkerslike.com/2011/02/16/24-facipulation/ :)

I'm not sure that educating about Financial Literacy is the most effective way to solve under-privilege in the world. Loads of social determinants that would be hard to overlook. Nationality, formal education level, drive, professional network, mobility. For financial literacy to be really relevant some basic things needs to be fulfilled.

Photo of Joe Silva
Team

Forgive me for not specifying that I only think the dog icon sells obedience. I don't think the entire idea is steeped in oppression.

I stand by my suggestion that we remain mindful of the language we use and how the details (icons, figures, graphics, etc), of our messages will land in the communities we intend to help. The dog icon might be humorous to you, but we can not be sure how it will be interpreted on the receiving end.

Re: facipulation

I have not. I think that link articulates exactly what our job is; carefully navigating the fine between helping and social control. Thanks for sharing.

Photo of Ola Möller
Team

Very true. Thanks for the feedback. I added your reaction to the feedback stack. We been changing a few icons in the past. The dog in MethodKit for Sustainable Development (on the picture) refers to the Pavlov's dogs. Much of the the kits are more used in a We context (our company have fucked up when it comes to working with sustainability) than a imperialist fashion (teaching They). Translation is also interesting, how does a stack translates to a new language (relating to the Financial Literacy Kit it's to early to think about this tho).

Continuing on your train of thoughts. Somehow in this case I think that a kit on Financial Overview makes more sense than Financial Literacy. Because literacy are creating We/them, something that overview doesn't in the same way. Cards are truly effective when people already know about the expressions. Middle class teenagers, for families to discuss their economic situation etc.

Think a card deck needs to be combined with a education around it to be good enough. Still really important to see that financial literacy "might not" fix the situation around people living in poverty. A deck of cards can still play some role in education.

Photo of Shane Zhao
Team

Great discussion, guys! – As this idea develops, be sure to incorporate any feedback & new thoughts that you're keen on into your actual concept post to acknowledge your idea is evolving through these collaborative conversations. Looking forward to seeing where things go!

Photo of Lynda
Team

Hi Andre,
I was thinking maybe cards that are designed to show children how long they have to work to earn that money they want to spend.
I found as a child this helped with identifying was the object really worth it and reinforced that money does not grow on trees.

Photo of Ola Möller
Team

Hello all,

Wanted to add my input on cards as a format to create learning & workshops. I've been working with MethodKit www.methodkit.com almost 3 years now. We released 12 decks. A number that will be more close to 30 in the next months. The aim has been to create overviews over different field that help people to discuss and talk, and foremost understand each other through a shared interface. Read more about our thoughts on the design pattern for MethodKits here -> https://medium.com/methodkit-stories/thoughts-behind-methodkit-43e7efff9c2

The question in this case (financial literacy) is how to use cards. I think that MethodKit have been using a very defined format over the years. Short, catchy without the jargon often used in different fields. But there are plenty of opportunities to use cards and I've been seeing different ways that been really interesting. Here is a summary https://medium.com/methodkit-stories/47-creativity-card-decks-d116c03965fb

- Checklist cards. Cards that gives an overview over a certain task or field. (MethodKit for... fits in here)
- Index cards. Like the IDEO method cards, similar to the old card boxes with receipts.
- Strategy cards. Give you different strategies.
- Action cards. Similar to the "Go to jail"-card in Monopoly that instruct you to do something.

The question in this how much of a game it should be. Think that gaming mechanics in this sense could make the think interesting. What could make the experience more fun. Should tokens/props as fake money be used to illustrate concepts around a deck / card game?

Photo of Alper Yaglioglu
Team

Hey Ola! I really like your idea about tokens and props. Using props and Methodkit money ( like Monopoly money) would help maximize the realism of the idea and effectiveness of the kit. Props representing different kind of expenses might also be helpful such as school prop for tuition fees or shopping cart for shopping expenses.

Photo of OpenIDEO
Team

Congrats on this post being today's Featured Contribution!

Photo of Shane Zhao
Team

Very exciting to see how this idea has evolved from your MethodKit inspiration Andre! We love how you've built a team with collaborators from the research phase. In going forward, one thing that might be helpful to consider is - who's the audience that your'e designing this financial literacy kit for? e.g. will this idea be for children, teenagers, parents, teachers, etc... Having a specific audience in mind will help this idea become more focused in meeting the specific needs of your users. This will also help generate what the content of the financial literacy kit might be.

As you identify users in your community, it'd be great to start iterating this idea with prototypes and feedback. Here's a cool example from the Recycling Challenge: https://openideo.com/challenge/recycle-challenge/evaluation/kick-cycle-a-recycler-s-green-activity-box-filled-with-fun-for-the-entire-family-to-help-kick-start-their-recycling-habits

Looking forward to how this will progress!

Photo of André Fernandes
Team

Thanks for your feedbacks Shane! I'll see on next days with the team members about the audience for the game and the content to work on.

Photo of Maddie Wiener
Team

Great stuff André, this is a really cool idea! I think these could definitely come in handy to a range of audiences. I love how it is an interactive learning tool that encourages collaboration and discussion.

To piggyback Shane’s comment, I’m also curious how the cards might vary for different audiences. Various stakeholder groups have different levels of financial education, therefore making some cards more or less relevant to a groups' needs. Do you think there should be some cards that every audience type receives, and then a number of more specific cards, tailored to their needs and education level?

Photo of André Fernandes
Team

Good question Maddie! I didn't think about a game with the same cards fitting all or segmenting cards by audiences. Another point to discuss with the team!

Photo of Darrick Hildman
Team

Teamfrcc would love to try the game out to see how it works. We will get together and see how we can help out.

Photo of André Fernandes
Team

Hi Darrick, I've already added you to the team. Thanks for you desire to help! Feel free to give any feedback!