The How and Why of Budgeting, Part II

I invite you to share your budgetary experiences with me and others by leaving a comment below. Or you can reply to me alone at gkcpa001@comcast.net. How about going a step further and showing this article to your accountant, if you have one, and encouraging him or her to help you with your budgeting project, even serving as your budget coach, if it’ll help you achieve your financial goals?

How to make budgeting and financial responsibility fun to learn about

The entire budget exercise can be turned into a game to make it more fun and interesting. During my senior year in college, I took a course for college credit called “General Business 180 – The Executive Game”. There were no lectures given, nor was I required to purchase a textbook. Instead, students formed teams representing companies of four or five players per team that played against each other for the highest score. A computer program distributed a certain amount of money to each team. Whenever class was held, my team met to determine how we’d spend our money. We were allowed to spend it on advertising, product purchases, salaries, capital investments, research and development (R & D) and one other category. The same computer program then determined what our sales were and how much money we had based on what we spent our money on. Our team won, apparently because we spent the most money on advertising. I haven’t heard that this course is still being offered at colleges, but what if a variation of it were offered featuring household budgeting at the elementary school or high school level, or even as a consumer game you can play on your personal computer or as a board game like Monopoly®? What a great way that would be for young people to learn about budgeting and financial responsibility! You can add a techno-twist to it by playing with bitcoins!

 

Author: Gary Krupa

I'm a CPA, married, with two cats, I play the accordion and speak French. I live in Sedona, Arizona in the Village of Oak Creek. I grew up in New York, and also lived in Southern California, the North Bay region of the San Francisco Bay area, and elsewhere in Northern Arizona. While in college, I introduced to the Accounting Society a corporate version of Monopoly called "Corporate Monopoly". Visit my custom website at http://garykrupacpa.com for very informative, interesting and up-to-date information about how to improve the state of your finances! It's where political correctness is kept to a minimum and financial helpfulness to a maximum.

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