A. As with all things in life, the answer is…It depends! But here are some scenarios that will help you figure out how long your Money Game session needs to be. In order to figure out how long the game will take, keep these points in mind:
- The Set-up Activity where the participants are put into pairs where one is the employEE and the other is the employER who puts the employee to work for five days…Monday through Friday…takes approximately 20-25 minutes, including the Social Security Activity. Allow extra time for larger groups as it just takes a little more time to control them, get them paying attention, etc.
- Each round after that, takes between 10-15 minutes, depending on the round and any corresponding activity that might go with the round.
- The minimum number of rounds to play is six (6). Round Six (6) is where you explain how to “win the money game.’ Most of the participants will have had the opportunity to receive their first Passive Income from the asset they purchased in Round Four (4) so they can just begin to relate to what it will take the Win the Money Game.
- Optimally, we want each participant to experience Winning The Money Game. This means that they must have more passive income coming in each month (round) than they have going out in in Expenses each month. Since their initial expenses are $900, this means they need to have ‘invested in’ at least 10 assets (real estate, stocks or business) to be Financially Free. This typically takes between 12-16 rounds, depending on the choices each participant makes, i.e., how quickly they ‘get’ that they should invest in assets, etc.
- So, if you want to play a short version, you should allow a minimum of 2.5-3.0 hours with a short break in the middle of the program. This time frame doesn’t include many Additional Activities and is the bare minimum. Remember, for shorter time frames, you will give the participants $200 for each Asset they invest in.
- If you have time to play the optimal number of rounds, it’s best to spread it over a day event, like 9 am to 5 pm or over a series of days. We have one high school teacher who plays the game over a nine (9) week period, every Friday in her Career Choices class. The kids love it and can’t wait to play The Money Game. (This teacher, Lola Peredes, is at Dos Pueblos High School here in Santa Barbara and she is in her second year of teaching The Money Game to her students. She is doing SO well that the head of curriculum for Santa Barbara is considering making The Money Game Santa Barbara County’s choice financial education curriculum!)
Note: There are a couple of Event Cards that allow the participants to pay off their car loan and school loan. If these cards are drawn, their monthly expenses are lower and they need fewer assets to become financially free.