A total of 20 participants, including students of the American University of Armenia as well as local financial literacy trainers and staff of the Central Bank of Armenia, met in Yerevan, the capital city of Armenia, at the beginning of July to test Sparkassenstiftung’s new “Savings Game” in a pilot event.

With the launch of the “Savings Game”, Sparkassenstiftung extends its offer of business simulation games to a total of six. The new game is based on the “Micro Business Game”, which has been on the market for several years now and has proved to be one of Sparkassenstiftung’s most successful simulation games for micro and small entrepreneurs in developing countries and emerging markets.

Budget planning and saving – learning through play

Divided up into five teams, the participants of the pilot seminar competed with each other. Each team had to manage the budget of a three-generation household, comprising of five persons. During the three rounds of the simulation game, the players have to make important decisions about the life of the entire family: At first, every team has to set a goal, which is to be achieved by the family within the next 15 years. This is the time period simulated by the three game rounds of the “Savings Game”.

During the game, each team needs to manage its budget in such a way that the mutually set family goal, for example the purchase of a house, a car or the financing of the children’s education, can be achieved without deteriorating the quality of life. To keep a balanced ratio between economising, saving for the family goal and adequate living standards for all family members is the focus of the game. But the participants have to cope with various challenges in order to be successful. For example: What needs to be done to fulfil the daughter’s avid desire without losing track of the family goal? Is it possible to finance the father’s hobby without losing money needed for the entire family? Or what happens, if the grandmother gets sick out of a sudden and needs special care? In catering to all these needs, wishes, risks and requirements during the simulation game, the participants have to choose between different solutions. The given options need to be mutually discussed and carefully weighed among the group.

Learning objective: Budget planning and saving are important components to provide for the future

During the one-day seminar, the participants learn that good budget planning and the formation of savings are vital to provide for one’s personal and the family’s future. With respect to Sparkassenstiftung’s project countries, this learning effect is of special importance: In many developing countries and emerging economies, which lack social security schemes, generating savings is the only option to provide for emergencies and financial bottlenecks.

“Savings Game” as another instrument to promote Financial Literacy

After the pilot training in Yerevan, the participants’ feedback was highly positive across the board. They reported about their positive experiences and the new insights they got from the simulation game. The decision to organise the pilot training of the new simulation game in Armenia was made for good reason: Within the scope of the<link http: www.sparkassenstiftung.de en projects projekt regionalprojekt-responsible-finance-im-kaukasus-finanzielle-bildung-konsumentenschutz-verantwort _blank> Regional Project for the Caucasus, which is supported by the German Federal Ministry for Economic Cooperation and Development (BMZ), the Sparkassenstiftung has committed itself to promoting “Responsible Finance” for many years now. The mobilisation of savings, strengthening of financial education and protection of consumers belong to Sparkassenstiftung’s primary project goals in this region. But Sparkassenstiftung conducts more projects targeting basic financial literacy and savings mobilisation. An overview of all Sparkassenstiftung projects can be accessed <link http: www.sparkassenstiftung.de projekte.html _blank>here

Following the successful pilot training in Yerevan, potential trainers for the new “Savings Game” will now be trained by experienced Sparkassenstiftung experts in Bonn in September 2015.

More information about Sparkassenstiftung’s other business simulation games can be accessed here:

<link fileadmin user_upload pdf _blank>Micro Business Game

<link file:505 _blank>MFI Management Game

<link file:506 _blank>Bank Management Game

<link file:507 _blank>Bank Risk Management Game

<link fileadmin user_upload pdf _blank>Market Development Game

Contact partners:

Andreas Fabrizius / Carina Lau
Sparkassenstiftung für international Kooperation
Simrockstraße 4
53113 Bonn / Germany

Phone: +49 228 9703-6628 / -6608
Fax: +49 228 9703-6613