Credit Crunch is designed to show students the cost of credit card debt. Players are given different repayment scenarios, and must calculate their repayments over a year.
Through Credit Crunch, students will:
- Learn how to calculate minimum repayments
- Understand the difference between simple interest, compounding interest and interest-only repayments.
Personal Financial Management is a fundamental part of a young person’s education. Credit Crunch is designed to support the key competencies. The game also has strong links to the Mathematics and Statistics and Social Sciences learning areas.
Credit CrunchDownload overview
Students taking part will
- Be allocated a repayment scenario
- Take 12 turns, with each turn representing 1 calendar month
- Update their Accounting Sheet after each turn by calculating income earned and repayments made.