Pitfall – AKA Money Pit: Actually a Fun Financial Literacy Activity

December 3rd, 2012

As a TRiO professional, I work with students everyday who need guidance in the tricky area of financial literacy (really…who doesn’t need guidance in that area). I often find it so hard to explain budgeting, foolish spending, and laughter.

Pit Paradigm Shift Activity

Pit
This wonderful game is based off of the classic card game Pit. Pit emulates the trading floor on the New York Stock Exchange, and full of energy.
Props:
I have used several things as Pit cards, basically you need cards, papers, or play money that is only printed on one side. I like to play Pit with leadership words on the printed side of the cards, however put whatever you want on the front of the cards. There needs to be enough cards for each participant to have nine cards, and each participant has a different word on the front of their nine cards.
Objective:
To “corner” the market and collect nine of the same cards.
How To:

  1. Shuffle or mix the cards, and deal them to all of the participants.
  2. Open the market by ringing the market bell, or just yelling market is open as loudly as possible.
  3. Start trading cards.
    1. A participant can only trade cards by holding out one, two, three or four cards of the same type (or word) face down.
    2. While holding out the cards, they will yell the number of cards they are trying to trade.
    3. They will then trade cards with someone else who is trying to trade the same number of cards.
    4. Once the player has collected all nine of the same cards, they yell “Pit,” and the game is stopped.
    5. Collect cards, shuffle, and play again.

After a few rounds of Pit, I ask the participants to share a financial goal with the group. It doesn’t matter what goal either, it could be a goal to go on vacation, save $10,000, or even when to retire. After we have set our goals, I like to ask everyone to grab a tennis ball that will now represent their financial goal during the next activity…Pitfall.
PitFall - Paradigm Shift
Pitfall
Number of Participants: 8-40
Time:  20 – 25 minutes
Activity Level:  Low – Moderate
Props:  Tarp with holes cut in it, 15-20 Tennis Balls, Bucket
Objective: To transport the tennis balls to the bucket via the tarp.
Set Up: Set the tarp on the ground about 15-20 feet from the bucket.
Rules:

Description:
The group picks up the tarp, holding only the edges as the facilitator places one tennis ball on any corner of the tarp. The group must then transport the tennis ball to the bucket via the tarp. If the team can drop the tennis ball into the bucket before it falls through to the floor the team will get one point. After each successful round, the facilitator will add a tennis ball to the tarp, thus increasing the team’s chances of scoring points.
Processing:
I explain to the participants that the tarp is like the road of life, and communicate them effectively, we will have a much higher chance of achieving them.
I follow up the initiative by asking the participants to relate their observations during the activities to their own financial successes and revelations are discovered.
Try this out, I think it will work with your group. Contact me if you would like more instructions or tips on how to smoothly transition from activities to debriefing and processing discussions.
Ryan Eller
Founder & President, Paradigm Shift
[email protected]

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