Financial Literacy for Immigrants

Experience daily financial challenges in a game

For many people it is a real challenge to make meaningful financial decisions in everyday life and to grasp their possible long-term effects. How much more difficult must this be for immigrants who often have poor language skills and lack economic skills or practical experiences in their hosting country.
The game-based workshop for financial education teaches basic financial literacy. Participants learn the meanings of income, expenses, assets and liabilities in a private household and their interrelations. They discuss common living costs in their new country and how to set up a private budget. They learn how to calculate a net-income, i.e. what stays over, after the deduction of taxes and social expenditures.
Hamsterrad (Pocket Money Management, 2018 available) is a great game to visualize economic interrelations in private households. It provides a wonderful opportunity to discuss typical financial issues for a private household and to give a better understanding about cultural behaviors in their new country.

Competences: Learning for everyday life

  • 01

    Better understanding of common financial challenges of a single household in Germany

  • 02

    Introduction into the social and economic conditions in Germany

  • 03

    Basic financial education and literacy for everyday life, for a self-determined and sustainable lifestyle

  • 04

    Supporting and strengthening of consumer competence in the new country

  • 05

    Socialization through group experience and sharing of practical knowledge

  • 06

    Learning important basic economic knowledge, without spending real money.

  • 07

    Economic decisions and their possible consequences are tried out and are tested.

  • 08

    Respect each other,
    Listen to each other,
    Understand each other,
    Learn from each other
    in a Board Game.

Imagine, we can do it!
It’s easy if you just try it!Blog "Imagine, wir schaffen das!" 14. September 2016

Integration, is a great opportunity for a breakup from mental stagnation
and the abondonment of established paths,
where security is the major guideline,
where new ways are considered to be unsafe or dangerous.
We are asked to examine, to classify and toexplain our society,
our co-existence, our values and that what makes us.Blog 14. September 2016