Finding fun in finance
By Marjorie Gorospe
INQUIRER.net
This is an interesting piece from one of our reporters:
When I was still taking entrepreneurship and statistics classes, I yawned a lot. I was never a huge fan of numbers and finance terms.
Now, experts say they can teach these subjects and still put fun in the classroom. GE Money Bank Philippines and Let's Go Foundation in collaboration with local experts come up with a financial education program called Women Entrepreneurship Program, and part of this program is FUNANCE.
Funance was developed by Maurino Bolante, a professor from the Asian Institute of Management. The idea is to use an interactive classroom activity approach to make learning easier for both teachers and students.
Using videos and online materials, Funance has modules on the basics of Balance Sheet and Income Statement, a case study entitled "Pasta At Iba Pa" where students are inspired to explore business ideas and a module that helps students make decisions on cash flow and cash management in a form of a board game.
Schools that want to use the module may have the all the materials for free.
Too bad, this was formulated just after I survived the boring hours of my entrepreneurship class. I could have been one of those students rolling the dice on the Funance board game, finding the right definition of a concept with my classmates or pretending to be a tycoon--enjoying yet learning the lessons.
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For most of us finance and investing is boring per se. But for those who were born from parents with inherent aptitude and inkling for business normally have the most fun dealing with finance and investing.
Observe the enthusiasm of those young men and women in the PSE or Wall Street's (or any commodity) trading center all over the world and you too can feel their adrenalin rush, as if they're sharks in feeding frenzy.
I recommend to all money smarts bloggers to visit Fool.com web site once in a while. My eldest son was once upon a time an avid foolish contributor, as equity analyst of Fool'.com blogospheres. All staff writers of this company must report the assigned company's financial analysis in a funny, simple and matter-of-fact presentation.
David and Tom Gardner, founders of The Motley Fool are classic example of teachers who will not bore students no matter what would be the subject matter. They're funny. Learn all the financial market's jargon from these fools. You too will be, soon.
Finance can be considered boring and uninterestng because in the first place it is SERIOUS stuff; there is no denying that. Some people take it for granted and see where it takes them? They either experience financial distress or financial ruin, and that is when they wake up to the fact that FINANCE is indeed truly serious. Most take it for what it is worth only after learning the lesson the hard way - by experiencing money problems probably inspite of so much income received each payday. I can safely assume that most do not even really know their net worth. Sad but true.
I recommend TalkingOfMoney.com for those interested in reading and learning personal finance matters attuned to the Filipino mindset.
I would say that understanding the importance of money and its proper handling in relation to our future and our family will make the boring and tedious topic of Finance one of the most important, interesting and rewarding subject of all.
There are students that find Finance boring. There are those that are afraid of numbers. But what holds true is that traditional methods are not as effective as they used to be because of technology. A lot of things are already in the fingertips of the youth. For example, research can be done in less than 3 minutes over the internet instead of the hassle of finding the right call number in the library. Meetings can be done through YM or instant messenger. Likewise, this boardgame can be used by teachers to supplement their curriculum. It can even make their lives easier.
I really think that the teaching tool called Funance is a good way to connect with students. I mean, they can learn financial management in a fun yet interactive way. It's like Monopoly. It's a fun game but it's educational.
There is this game called Cashflow 101 founded and created by Rich Dad Poor Dad author Robert Kiyosaki. Its a fun game and teaches you on how to build your passive income. Its heavy on real estate though so if anyone knows of other games that teaches on other investment vehicles, I'm very open to suggestion.
I dig games and I learn quickly through them. I wish there's a game on how to learn technical analysis of the stock market. That's certainly on my wish list.
Finance can be boring for some but not for me. Maybe because I'm a math graduate. hehe. Anyway, you should try at least the Cashflow 101 Egame. I tried it and blogged about it.
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Funance does sound Fun all the way, I think its a good try to replace the traditional type of classroom teaching. I don't know about accounting enthusiasts, how they feel to be with numbers throughout their lives but numbers never interested me much and I think Funance must be for people like me. Its good if the module can teach us without actually getting us bored. Even the title 'Pasta At Iba Pa' doesn't sound like something related with numbers, maybe it demonstrates in a pasta way. I'd love to check on this module since its available online as well, the students should feel fortunate to have this module.
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The idea is to use an interactive classroom activity approach to make learning easier for both teachers and students. Using videos and online materials, Funance has modules on the basics of Balance Sheet and Income Statement, a case study entitled "Pasta At Iba Pa" where students are inspired to explore business ideas and a module that helps students make decisions on cash flow and cash management in a form of a board game.
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There is this game called Cashflow 101 founded and created by Rich Dad Poor Dad author Robert Kiyosaki. Its a fun game and teaches you on how to build your passive income.
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I just loved taking finance classes in college. You always learned so much from it. I think it is such an amazing class to take. crane certification
Thanks for the nice blog. It was very useful for me. Keep sharing such ideas in the future as well. This was actually what I was looking for, and I am glad to came here! Thanks for sharing the such information with us.
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Your article here is very interesting and finance has always been an important part of our lives although I would rather wish that things were different... but anyways, I just wanted to say that I have found a very interesting blog that is focused on debating financial issues: Aaron DelSignore. Hope you find it useful as I did.
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Very well said, I think that if everyone thinks this way that the world would be a much better place.. especially if my cash out refinance gets approved!
I think that the main problem is the attitude to finance in general... Absolutely agree with Leo Ebreo - it couldn't be commented better!
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