{"id":339,"date":"2017-11-23T11:52:34","date_gmt":"2017-11-23T11:52:34","guid":{"rendered":"https:\/\/in.nau.edu\/economic-policy-institute\/?page_id=339"},"modified":"2023-01-13T12:49:12","modified_gmt":"2023-01-13T19:49:12","slug":"seven-generation-money-management-7g-mm","status":"publish","type":"page","link":"https:\/\/in.nau.edu\/economic-policy-institute\/seven-generation-money-management-7g-mm\/","title":{"rendered":"Seven Generation Money Management – 7G MM"},"content":{"rendered":"

Seven Generation Money Management – 7G MM<\/h3>\n\n
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\n Your Game to Financial Sovereignty<\/span>\n <\/div>\n<\/div>\n\n

\"7G<\/p>\n

A money management game by NAU<\/h3>\n

CAIED’s Seven Generation Money Management (7G MM) is a hands-on financial literacy game targeted toward Native American youth to increase their money management skills and to give them a basic understanding of investing, opening a bank account, purchasing a car, renting an apartment, buying a house, and other life skills.<\/p>\n\n

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\n \n“I have learned that life hits you. You tend to buy things that are not necessary before buying the things you really need.\nBe smart in what you buy!”\n~Aliana B. (age 18) Cherokee\n“All My Relations” Conference, Anaheim, California\n<\/span>\n <\/div>\n<\/div>\n\n

Want to help extend the legacy?<\/h3>\n\n
\n Contribute to 7G MM<\/a>\n <\/div>\n\n

How this money management game is played<\/h3>\n

The scenario<\/strong>:\u00a0Up to 13 mock businesses. Student are given the control over their finances. Two main rules apply in the game:<\/p>\n

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  1. Students must have a place to live: either they enroll in college and stay in the dorm, they rent an apartment, or purchase a house<\/li>\n
  2. Students must pay their taxes at least once in the game.<\/li>\n<\/ol>\n

    The game<\/strong>:\u00a0Students are given a tribal ID card and a ledger. Students play a one hour session. To simulate real-life experience, the one hour session corresponds to one year and every 15 minutes corresponds to three months. If a student has agreed to an installment loan, e.g., at the car dealership, then they will be responsible to make payments every 15 minutes. They transact with businesses of their choice. How they spend their money is up to them.<\/p>\n

    The Seven Generation Money Management game in play!<\/h3>\n