SoB-UEW Trains Students in Financial Literacy Through Savings Simulation Game
The School of Business (SoB) at the University of Education, Winneba (UEW) is equipping selected students with practical financial literacy skills through a two-week savings simulation game training currently underway at the SoB Seminar Room.
The training, which commenced last week and will conclude this week, forms part of efforts to inculcate a strong culture of savings and prudent financial decision-making among students.
Facilitated by senior lecturers Mr. Rexford Owusu Okyireh, Dr. Enusah Abdulai and Dr. Evelyn Twumasi, the programme employs an interactive, real-life simulation approach to expose participants to everyday financial scenarios, enabling them to make decisions on income, expenditure, savings and investment while experiencing the consequences of those decisions in a controlled environment.
Mr. Okyireh explained that the “savings game” is designed to mirror real-life financial situations, guiding students to set personal financial goals, assess risks and understand the importance of saving with credible financial institutions rather than informal means.
He noted that the training also evaluates participants’ saving behaviours using pre- and post-assessment metrics to measure impact, with expectations that students will adopt sustainable financial habits and, in some cases, open accounts with recognised institutions such as the UEW Cooperative Credit Union to secure their investments and earn returns.
Dr. Enusah Abdulai indicated that the training forms part of a broader financial education initiative with a subsequent “micro business game” scheduled for the second week to expose students to basic business management and accounting concepts, including cost control and revenue generation.
He explained that the savings simulation introduces participants to family-based financial planning, where they must balance daily expenditures with long-term goals, reinforcing the principle that while spending improves immediate quality of life, strategic savings is essential for achieving future aspirations.
The programme brings together students from various departments within the School of Business including accounting, finance, marketing and procurement, who are grouped into diverse teams to encourage collaborative learning across disciplines. Sponsored by the UEW Cooperative Credit Union with support from partners, the initiative also provides logistical and material support, underscoring its scale and impact.
Organisers expressed optimism that the training will not only transform students’ attitudes towards savings but also reduce dependence on high-interest loans by promoting informed financial choices, ultimately preparing participants for responsible financial management beyond the university environment.
