Gamification: can video games change our money habits?

Fintech companies are using elements of video games to make personal finance more fun. But does it work, and what are the risks?

  • Gamification is the process of incorporating elements of video games into a business, organization, or system, with the goal of boosting engagement or performance.
  • Gamified personal finance apps aim to help people make better financial decisions, often by redirecting destructive financial behaviors (like playing the lottery) toward positive outcomes.
  • Still, gamification has its risks, and scientists are still working to understand how gamification affects our financial behavior.
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Want to save more money? Start playing video games.

Playing video games could help you make better decisions about money.

  • The word is out on gaming—it's not just something that children do for fun anymore. Games are tools that can be used to teach new skills, reduce stress, and even change behaviors by triggering chemical reactions in the brain.
  • These benefits and more have provided scientists and developers with a promising path forward. "Games reduce the stress of making decisions," says neuroscientist and professor Paul Zak. "App designers have now used game structures to help people learn new information, make new decisions; and one of the most exciting applications is in financial decision making."
  • But simply turning something into a game isn't enough to see meaningful changes in habits. Developers of gamified apps like Long Game have found ways to combine the engaging and fun experience we expect from video games, with something that has traditionally not been very fun: saving money.

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Up your game with Playstation Plus and this complete gamer bundle

Lose yourself in entertainment with this epic collection of games and restriction-free encrypted browsing.

  • Playstation Plus gives you an incredible library of free games and fresh deals.
  • Your gaming experience can be seriously updated for just one low price.
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You could win this arcade system worth $4,000 by donating to charity

Enter for free or get more entries (and chances of winning) by donating to the Playing For Change Foundation.

  • You could win an epic arcade system for your home as part of this Polycade Lux Giveaway.
  • The winner will receive the epic home arcade system worth $4,000, which features over 54 built-in modern and retro games.
  • Enter for free or get more entries (and chances of winning) by donating a minimum of $10 to charity.
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Could playing video games be linked to lower depression rates in kids?

Can playing video games really curb the risk of depression? Experts weigh in.

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  • A new study published by a UCL researcher has demonstrated how different types of screen time can positively (or negatively) influence young people's mental health.
  • Young boys who played video games daily had lower depression scores at age 14 compared to those who played less than once per month or never.
  • The study also noted that more frequent video game use was consistently associated with fewer depressive symptoms in boys with lower physical activity, but not in those with high physical activity levels.
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