The free, Web-based game went public in February, and already four large employers have expressed interest in integrating the game into their employee education strategies to help reinforce financial planning messages.
"One large partner already has a method of rolling out financial education and other employee benefits programs to their associates, and we're hopefully going to partner with that process. Another employer has a job-training program, which they want to extend into financial education," says Nick Maynard, director of innovation and new product development for Doorways to Dreams (D2D) Fund, a Massachusetts-based nonprofit that created "Celebrity Calamity."
"The game can be attached to the job training without having to take up valuable classroom time. The idea was to work on savings and asset building initiatives that would be scalable in the United States to help poor and working people."
He continues: "We think employers are a very important channel in reaching millions of Americans" to gauge and improve financial literacy nationwide, adding that D2D can customize certain aspects of the game's package to better fit the audience. For example, they could create a Spanish alternative or substitute the youthful celebrity characters with the more mature "Ed McManns."
D2D was born from the research of Harvard Business School professor and senior associate dean Peter Tufano.
His study of financial literacy in low-income demographics cultivated the organization's 2000 founding and mission to provide "savings innovations for lower-income consumers," according to the firm's Web site.
"Celebrity Calamity," the organization's latest development, was created with low- to moderate-income (households earning less than $40,000 a year) females, ages 18-32, in mind.
The game leverages a concept D2D calls 'stealth learning' — teaching financially struggling individuals how to spend and save responsibly, and hopefully without them knowing it.
"The goal was to try to marry the fun and entertainment that everyone sees in video games [with traditional financial planning messages] to have a scalable way to reach millions of consumers with something that will hopefully be fun and engaging, but also teach them something," explains Maynard.
According to D2D's measurements, the game seems to be making inroads with consumers.
For example, gamers increased their knowledge of finance charges by 71%. Not only did users' comprehension improve, confidence in their new-found financial proficiency blossomed.
One such user is Maria Alsama, a 32-year-old studying for her GED at the Dorcas Place in Providence, R.I., one of D2D's testing sites.
Her greatest take-away from the game was learning the financial gain to paying more than the minimum amount on her credit card bills — a skill that she and her fellow users bolstered their confidence in by 29%, D2D reports. Nevertheless, Alsama offers some constructive criticism.
"It's not a real-life thing," she explains. When asked what she would improve, she explains that the game needs to "be more realistic." Right now, the game "has no choices and no budget. The money comes out of the sky," she says.
"Instead, they should give us a standard budget. Maybe we could receive a bonus every week and with that bonus you could choose what you want to buy."
D2D appears to have heeded her words, because their next game, with an expected release later this summer, will focus on personal budgeting. The game will concentrate on issues participants like Alsama had voiced interest in, such as divulging the inner workings of short-term loans, like car and student loans.
If D2D's goals are met, millions of Americans will have learned about credit from Buster Buyin or Alice Albudget — crucial skills employers want to sharpen among retirement plan participants, particularly in light of the current recession.
And beyond learning such valuable competencies, users will gain a real appreciation for Madonna's personal assistant.
