About ESSI Money
ESSI Money allows participants to achieve an understanding of the basic concepts surrounding financial management, in the areas of Earning, Saving, Spending,
and Investing – ESSI!
ESSI Money is the second financial literacy teaching resource developed by the Financial Basics Foundation with the assistance of teachers from around Australia and e-learning game developers Liquid Interactive.
The game is a teaching resource designed around the concept of a challenge or quest. It is a structured exploration of financial concepts using mentors and educational scaffolding to create a valuable learning experience primarily for teachers and students, though individuals can register and play at their own pace.
The player is required to undertake a series of financial challenges during a certain period in order to achieve the best possible financial result. The ‘play time’ will be relatively short – up to a maximum of 6 hours – however, the game will simulate the results/outcomes of the player’s decisions over a 6 month time period. The player will achieve an understanding of how decisions made throughout a time period can have both positive and negative impacts on their financial situation.
It is established from the outset of the game that, whatever age the player is in real life, in this game he/she is over 18 years old – this allows the individual, within the game, to be able to apply for a credit card, buy a car etc
In addition to Earning, Saving, Spending and Investing, the themes and concepts that are covered and flow through the whole game include:
- The need to seek advice from suitably qualified advisors and professionals
- The importance of establishing a Budget and Goal setting to achieve your financial goals
The key learning areas are addressed by introducing the following concepts:
- Interest and return on investments
- Bank Accounts (operational)
- Living expenses
- Mobile phones
- Credit and credit cards (good debt vs bad debt)
- Repayments, fees and traps
- Buying a car
- Bank Accounts (long term)
- Risk versus Yield / speculation
- Credit and borrowing (good debt vs bad debt and repaying debts)
Registering and playing ESSI Money is free for all Australian secondary schools! Simply click on the link below and complete the registration form for access to the game.