FROM PLAY TO PRACTICE: EXPLORING FINANCIAL UNDERSTANDING THROUGH THE EXPERIENTIAL GAME

Abstract

Preschool age of children is an important period that offers many opportunities and challenges for building the groundwork for both primary education and a fulfilling existence in society. When children graduate from kindergarten, they are expected to have acquired school readiness, as defined by a set of core competencies aligned with the EU's key competences framework. The core competencies include communication skills, basic mathematical and science/technology comprehension, digital literacy, learning-to-learn and simple problem-solving, creative and critical thinking, social and personal skills, and practical "world of work" skills and also financial literacy. This paper presents the results of a long-term project implemented between 2022 and 2024, aimed at developing financial literacy of the preschool children through the experiential game called "Gold Fever". The presented project is derived from different studies, that assume early childhood as a crucial period for forming basic financial habits, decision-making skills, and orientation in the financial world. The designed game implements the principles of experiential learning, social interaction, and simulation of real financial situations. During the game, children experience a simulation of the real world through a variety of activities that promote motor, social, mathematical, and cognitive skills, and then spend it on activities resembling real-life purchases.