Menu Managing Money App

Managing Money Workshop for learning providers

Led by Susan Easton, Head of Digital Learning, Learning and Work with Andy Hirst, Modern English.

About the app

People need to be able to conduct basic financial calculations to make informed decisions e.g. how much we should save into our pensions, understanding the financial implications of borrowing money from payday loan sites, whether we can really afford to buy a particular house. People need to manage their money over the short, medium and long term and require the skills, confidence and motivation to do so, and this is becoming more important as lifestyles change (e.g. employment or life circumstances)

However, research by OECD found large numbers of European adults of all ages lack awareness of the importance of savings and setting long-term financial goals and lack the financial awareness and skills to face changes in their financial circumstances, especially those with low levels of other skills (e.g. literacy & numeracy). One-in-three adults in England and Northern Ireland (NI) cannot work out the correct change from a shopping trip.

Against this background, Europe is the most highly penetrated mobile region in the world and this offers new opportunities for education and learning, which, if adopted, could help to engage those with low levels of financial literacy and supporting the development of their financial capability.

The Managing Money Erasmus + project developed a free, flexible non- accredited financial literacy curriculum and blended learning programme. The curriculum and learning resources aim to develop learners’ knowledge and skills, while the Managing Money app provides virtual opportunities for learners to practice those skills in a risk- free setting.

View this film to see how we explored the app, the curriculum and learning resources and discussed their use within the context of family learning.


How to use the app

The app includes different characters which learners can choose from to experience that character’s financial journey through life.

As part of the managing money course (managing money curriculum) the learner identifies their character’s current financial position – e.g. income, spend, assets, debts, loans through information  from their character’s profile.

  1. The learner chooses their character
  2. The learner completes the electronic budget from their character’s profile
  3. The learner receives a financial challenge through the app e.g. fluctuating interest rates
  4. The learner chooses their character’s short term actions from preset options e.g. reduce spending, borrow money etc.
  5. The learner then makes specific choices based on their response e.g. if choice was to borrow money, the learner then chooses from 3 loan options
  6. The character’s budget will automatically be updated based on the learner’s choice (learners can review all options and review budget changes before making a final choice)
  7. Learners are presented with an updated character profile
  8. Learners can either save their progress and return at a later date OR learners can progress by 1 (virtual) year and receive another financial challenge
  9. The game continues until all financial challenges have been resolved OR until the character is financially insolvent and has no further options

 Key Features

  • The Currency will be in Euros
  • Diagrams and pictures rather than text will be used where possible
  • SCORM compliant
  • Native app
  • Accessible
  • User centred design process
  • Trialled in 4 European countries

The publicly codebase has been released under the Creative Commons (CClicense and can be found here.