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5 Ways Video Games Can Improve Your Financial Skills

Learning how to improve your finances doesn’t have to be boring and stressful—it can actually be fun. In fact, you might already have homed your financial skills without even knowing it by playing certain video games. If it sounds too good to be true, let us prove you wrong—check out these ways video games can improve your financial skills.

Debt management

An increasing number of Americans struggle with debt each year—from mortgages to student loans. Certain video games can help teach people the skills they need to manage and pay off these dues. These games allow you to make purchases by going into debt. If you don’t keep up with payments, there are often consequences that spiral you into even more debt, so you can’t ignore them. Gamers learn how to make sacrifices and avoid unnecessary expenses or purchases to take care of their debt.

Investing

Many video games are focused around economic principles and require the management of personal finances or resources in the form of gems, coins, or other currency. To get farther in the game or increase earning potential, players often have to invest this currency in a helpful feature. In Farmville, for example, you can invest your money in more land, so you can grow more crops and ultimately make more money. You’ll learn to recognize the benefit of spending money to achieve a long-term goal and develop the skills to become a better investor.

Budgeting

To purchase new features in a game, you’ll likely have to save up its form of currency. Doing so often requires you to make smart financial decisions and avoid unnecessary expenses. This process of saving up funds inadvertently teaches players the importance of budgeting—an incredibly valuable skill in the non-virtual world.

Improved communication

While playing video games sometimes gets a stigma for being antisocial, doing so can actually improve your communication skills. Many games require you to work with other players and join resources to accomplish a shared goal. This collaboration requires good communicative abilities that are essential for discussing financial matters or negotiating better terms on a purchase.

Written by Logan Voss

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