Empowering SMJK Pei Yuan students with financial awareness through game-based learning

The “Money Masters: Cash Flow Adventure” initiative delivered impactful financial literacy education to the secondary students of SMJK Pei Yuan in Kampar, Perak on 18 October 2024. Organised by UTAR lecturers from the Department of Finance, Faculty of Business and Finance (FBF) and the Centre for Foundation Studies, Kampar Campus (CFS Kampar), the project aimed to raise awareness about the importance of cash flow management through engaging game-based activities. The primary objective was to help students understand how various financial assets and decisions influence overall financial wealth.

The event began with a warm welcome from a school representative. UTAR staff and students then set up materials for the activities for the Form 5 students. Once assembled in the hall, the students were divided into eight groups based on their existing classes. Each group was guided by a lecturer and a UTAR student helper, who served as core instructors to explain the game plan and provide support. In total, 247 Form Five students from both science and social science streams participated in the event.

The highlight of the event was the cash flow game. Students in each group were randomly assigned to different income categories, namely T20, M40, and B40, representing varying income levels and investment capacities. They were tasked with allocating their income across various financial assets, including savings, insurance, high-risk investments, and low-risk investments. Ms Liew Feng Mei, one of the Finance lecturers, introduced a series of scenarios and incidents throughout the game to demonstrate their impact on the students’ cash flow and overall wealth. At the end of the game, participants evaluated the outcomes of their financial decisions, shared the lessons they learned, and granted with reward for sharing their learning experience.

Following the game, Ms Chai Li Xin, Assistant Manager of the Division of Programme Promotion and an alumna of SMJK Pei Yuan, introduced UTAR to the students, sharing insights about the university and her personal learning experiences. Next, Dr Wei Chooi Yi, the Head of Department of Finance at FBF, shared an overview of the undergraduate Finance programme, followed by Ms Haw Ai Peng, a lecturer from CFS, who presented the Foundation programmes offered by UTAR.

The impact of the “Money Masters: Cash Flow Adventure” was significant. The game introduced students to essential financial concepts, such as the characteristics of various assets and the trade-offs between risk and return. Active participation demonstrated that the activity not only encouraged a positive and sporting attitude but also helped students to develop critical thinking skills in planning, strategising, and making decisions. Additionally, the game provided practical insights into the consequences of financial choices, raising students’ awareness of the importance of cash flow management and financial planning.

The event was supported by seven academics from the Department of Finance (FBF), two academics from the CFS Kampar, one staff from DPP and eight UTAR student helpers. Their collective efforts exemplified UTAR’s strong commitment to community engagement and the holistic development of its students.