The current UK economic climate is leading households into debt. The rising cost of living and inflation are resulting in households struggling with financial management. This has implications on the quality of life and economic mobility. Early motivation for and the utilisation of financial management tools can alleviate the risk of spiralling debt. In this paper, the authors present the case for a gamified collaborative financial management tool. They explain how current research has focused on individuals yet households often have shared and interweaving finances which would benefit from collaborative tools. They articulate the importance of motivation in financial administration and discuss the potential of gamification to motivate households in the proactive management of finances. In this regard, the authors describe the results of conducting a survey to investigate the case for gamification in household financial management. The findings suggest that gamification may offer new ways to motivate household financial management and can help households manage their exposure to debt.
|Publication status||Published - 10 Apr 2017|
|Event||International conference for Process Improvement, Research and Education - Southampton Solent University, Southampton, United Kingdom|
Duration: 11 Apr 2017 → 11 Apr 2017
Conference number: 22
|Conference||International conference for Process Improvement, Research and Education|
|Period||11/04/17 → 11/04/17|
Sievenpiper, M., & Butt, P. (2017). Gamified Budgeting for the Management of Household Finances. Paper presented at International conference for Process Improvement, Research and Education, Southampton, United Kingdom.