Gamification of financial education: a game changer for young people

June 26th, 2024

The gamification of financial education could revolutionise how children in the UK develop financial capability, according to charity The London Foundation for Banking & Finance (LFBF) and educational game creator Dot Dot Fire. In its fourth year, the Money Wise Challenge – the UK’s premier financial literacy app-based competition – brought together 586 schoolchildren from 86 primary and secondary schools to test and expand their financial capability in an exciting, interactive format.

Using the award-winning1 Money Wise Game app, children tackled real-world financial challenges like debt, unemployment, and inflation, all within a safe and engaging virtual environment.

86% of participants reported feeling more confident about managing money after the 2024 Money Wise Challenge – suggesting a transformative educational experience.

The winning team, Harbinger Primary School, reflected on how the game prepares them for adult life: “It really helped all of us to understand things about the real world and we can use this information when we have to actually deal with money ourselves without our parents help.”

Photo of winning team, Harbinger Primary School with Francis Lo, Chief Executive Officer of Dot Dot Fire (on the left), Shelley Doorey-Williams, Chief Executive of LFBF (middle) and Roger Hooker, Chief Operating Officer, ExCeL London (on the right).

Sabrina Au, Chief Partnerships Officer at Dot Dot Fire, highlighted the unique impact of this initiative: “No child likes talking about money, but every child loves playing games. The Money Wise Challenge is a game-changer in teaching financial education and unlike anything else out there. We’re giving young people a head start in life through engaging and memorable education. The life skills they learn at this event will stay with them for a lifetime.”

Shelley Doorey-Williams, CEO of LFBF, commented: “Financial capability is a crucial life skill, but it’s a complex subject. Our own research shows that young people are worried about money, and want to learn more, but they struggle to access impactful education. The Money Wise Challenge brings this important subject to life in a way that is both fun and impactful. Gamification, and other similar innovations, have the power to revolutionise how people develop financial capability, which is why we were thrilled to sponsor this event.”

Research soon to be published by LFBF – the Young Person’s Money Index 2023/24 – found that 81% of young people feel anxious about money, and 82% would like to learn more about financial education in school. 

The Money Wise Challenge makes financial education easy, effective, and unforgettable. Participants use the free, SIM-style Money Wise Game app to navigate a virtual world of finance, making decisions and witnessing the consequences in real-time. This immersive approach not only teaches financial principles but also empowers children to handle real-world financial situations with confidence.

The Money Wise Game app has achieved global acclaim with over half a million downloads and was named the number 2 Best Educational Mobile Game by The Gamer. This free-to-download app sets the gold standard for educational games, providing a rich, interactive platform for teaching essential financial skills.

Photographs and other assets from the event are available.

FOR FUTHER INFORMATION CONTACT: Sabrina Au, Chief Partnerships Officer

For further information about LFBF and the forthcoming Young Persons’ Money Index, please contact: Heather Tilston at


About the Money Wise game: The Money Wise Game, integral to the competition, has been downloaded over half a million times globally and is rated the number 2 Best Educational Mobile Game by The Gamer. This free-to-download game is recognised as the gold standard for educational games, making learning about money both fun and impactful.

The Money Wise Challenge is now in its fourth year, with the numbers of schools and children involved growing each year. Over 1500 students have now taken part in the Money Wise Challenge in total, cementing the event as a staple activity in the summer semester of schools.

About Dot Dot Fire:  Dot Dot Fire is an award-winning educational video game creator, teaching young people the money skills they need to secure financial freedom. Through our life simulation games, young people get to practice their financial decision-making in a safe, risk-free environment. Over time, they nurture positive life-changing money habits – from opening a savings account to making savvy choices at the supermarket – they apply their learning from virtual to reality.

About the London Foundation for Banking & Finance (LFBF): LFBF is a charity incorporated by Royal Charter with a history that dates back to 1879. LFBF’s purpose is to help people live more fulfilling lives by improving financial confidence and capability. We seek to achieve that through innovation, by embracing technology, and collaborating with others.

1 Dot Dot Fire, and their flagship Money Wise Game, is the winner of the Lord Mayor’s Dragon Award 2023 for Leadership in Financial Literacy. It is also the winner of the 2021 Educational Game of the Year award, awarded by the Institute of Financial Literacy in the USA. It is the first game ever to be endorsed by the Consumer Federation of America, the Children’s Screen Time Action Network, and the Digital Wellness Collective, in recognition of Dot Dot Fire’s outstanding ethical practices and effective educational methods. Dot Dot Fire also won BizBubble’s Heart of Gold award in 2023 which recognises small businesses that has a positive impact on the planet and the people around them.

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