Gamification has emerged as a popular method of teaching financial literacy to individuals of all ages. Using game mechanics and elements in financial education can make the learning process more engaging, interactive, and fun. This approach can also help individuals learn complex financial concepts in a simplified manner, which can help improve their financial decision-making skills.

Financial institutions and educators use gamification techniques to develop financial literacy games, quizzes, and simulations that teach individuals how to manage money, invest, save, and plan for their financial future. These games often use real-life scenarios to teach individuals how to make financial decisions and the consequences of those decisions.

Gamification has proven to be effective in increasing financial knowledge, confidence, and engagement among learners. It can also help individuals learn from their mistakes in a safe, virtual environment without facing the real-life financial consequences of their decisions.

The article published by 2023 FinTech Global exposed that gamification can be one of the useful and important ways to teach young people about finance. The full article is available here: As more FinTechs focus on financial literacy – should schools be doing more?