College LIFE
"By tying valuable financial information in with a fun game, [ResLife] managed to create something truly special.
I believe that the Game of Life should continue to be supported so that future students can learn financial literacy in a
way that allows them to truly absorb the information that they are taught." — senior year participant
Objective
First-year and sophomore students participated in the “College Track” to learn about expenses they may encounter while in college. Students who took the College Track are also encouraged to play the Real World Track, and vice versa.
Set Up
In the “College Track” students calculated estimated costs for one semester. The calculations excluded tuition, room, and board so that students could focus on out-of-pocket costs. Each participant was given a worksheet that guided the process, and upper-class students staffed each of the tables to enhance the learning experience by sharing their own personal stories.
Let's Get Started!
Participants moved around the game board one space (i.e. one table) at a time. At the first table students calculated essentials which included textbooks, cost of travel to and from home, laundry, and parking/maintenance/fuel costs (if students had a car on campus). The upper-class students assisted the participants in determining cost of textbooks, used travel sites to get accurate cost estimates for travel to and from home, and guided discussions about laundry and car expenses.
Spaces
At the second table, students indicated how often they eat out per week, buy coffee, or go to movies/laser tag/bowling/etc. Costs were determined not only based on frequency, but also based on restaurant type (fine dining, casual dining, or fast food) and which entertainment options they chose. At the third table, students indicated the San Antonio and Texas attractions they planned to explore that semester. Next students indicated if they planned to join (or had already joined) a fraternity/sorority/clubs/musical ensembles/etc. Associated costs for each excursion and student involvement activity were added to their worksheet.
#Winning
At the final table students calculated their total costs for one semester and were astonished to see how much money they had “spent” in that short time. They were then provided with a college budgeting tips and tricks handout, information about savings and debt management, and information about the costs associated with all of the excursions/activities/clubs.