Ideally, if we have, say, 20-30 participants, how long should the game typically take to play?
Great question and the answer depends on some variables:
- How old are the participants? Younger kids usually take more time to corral 🙂 and teens typically ask more questions which lead to great conversations.
- Are you going to be teaching The Money Game exclusively or combining it with additional curriculum?
- Are you using just the activities that come with the game or adding in additional activities as they are made available?
- Are you going to play The Money Game until everyone wins or until they just ‘get’ the idea of how to win?
That being said, I would generally break the game down this way:
- The Setup Activity should take between 15-25 minutes, depending on your audience. Younger…more time. Older…a little less time but not always. Allow at least 20 minutes for the setup activity.
- Each Round/Paycheck after that should take between 10-15 minutes, depending on the round with the following exceptions.
- Round 4 will take a little longer because that is the round where we introduce investing (not buying) assets for the first time. Your participants will either have $300 going into the round or have $300 after they have paid themselves first in Round 4. You have to explain the Three Pillars of Wealth, how each asset makes them money (appreciate and cash flow), that assets cost $300 each, etc. I would allow $20 minutes for that.
- I have also found that it works better to bring the participants to the table where you set the bags/chips up than to explain it in lecture format. Hold up the bags, point to the words on the bag, ask them to see if they know what each asset is, etc. Remember, ASK DON’T TELL! Let them give you the information they already know before just handing it to them. They like to be part of the process.
In terms of the last question above, look at the time required this way:
If you’re going to play until everyone wins, and you’re giving the kids $100 passive income for every asset they invest in, then you will need to play between 12-15 rounds (depends on choices they make).
If you’re going to give them $200 passive income for a shorter game, they will need 8-10 rounds.
If you have a very short window of time, let’s say three (3) hours, then you have to get them to Round 7 which is when you tell them how to win the Money Game and remember…
You win The Money Game when the passive income from your assets is greater than the expenses of your chosen lifestyle.
As you are developing different programs with different participants and time frames, please feel free to give us a call at 805-957-1024 and we’re happy to brainstorm with you about what might work best!
Enjoy and keep sending in those questions. Elisabeth