Seven Generation Money Management – 7G MM
A money management game by NAU
CAIED’s Seven Generation Money Management (7G MM) is a hands-on financial literacy game targeted toward Native American youth to increase their money management skills and to give them a basic understanding of investing, opening a bank account, purchasing a car, renting an apartment, buying a house, and other life skills.
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How this money management game is played
The scenario: Up to 13 mock businesses. Student are given the control over their finances. Two main rules apply in the game:
- Students must have a place to live: either they enroll in college and stay in the dorm, they rent an apartment, or purchase a house
- Students must pay their taxes at least once in the game.
The game: Students are given a tribal ID card and a ledger. Students play a one hour session. To simulate real-life experience, the one hour session corresponds to one year and every 15 minutes corresponds to three months. If a student has agreed to an installment loan, e.g., at the car dealership, then they will be responsible to make payments every 15 minutes. They transact with businesses of their choice. How they spend their money is up to them.
The Seven Generation Money Management game in play!
Benefits of playing 7G MM
- Gain an understanding of investments
- Learn about checking and savings accounts
- Engage in simulated real-life transactions
- Understand better money management.
Would you like to learn how to facilitate the 7G Money Management game?
We offer Train the Trainer sessions. If you are interested in attending, please email Gwendolyn.Cody@nau.edu for more details.
Since 2013, 7G MM game sessions and presentations have taken place in over 40 different schools, 35 different communities, with more than 1,600 students/youth. In addition, NAU CAIED also facilitated four Train the Trainer sessions in Phoenix, Camp Verde, Parker, and on the Northern Arizona University Flagstaff campus; training 76 personnel on how to facilitate the game.
The game has also become a mandatory training for the Yavapai Apache Nation. They have incorporated it into their financial education for their tribal members. NAU CAIED has also received word that other tribes such as the Pascua Yaqui-Guadalupe, Arizona is considering implementing the 7G Money Management game into their student financial aid mandatory training.
Find out where the game has been played to-date and where it will be offered next!