FinQuest @NYU ECT
In recent years, managing personal finance has become an essential yet challenging skill for international students living in the US. Unfamiliar financial systems, fragmented information sources, and high-stakes decisions around budgeting, banking, and transactions often create anxiety and prevent learners from effectively applying financial knowledge in real-life situations.
FinQuest is a scenario-based learning experience designed to help Chinese graduate students build confidence in managing U.S. personal finance. The solution is structured around two components: a Learning experience that uses simulated financial scenarios to support decision-making and reflection, and a Practicing layer that reinforces skills through budgeting tools, expense tracking, and repeated application.
International students in the U.S. face frequent, high-stakes financial decisions—banking, budgeting, and currency exchange, while navigating unfamiliar systems and fragmented information. Even when they understand financial concepts, many struggle to apply them in real situations under uncertainty and stress. This project explores how a scenario-based learning experience can better support real-world financial decision-making through practice, not just information.
To identify the financial learning needs of international students—particularly Chinese students—we employed a mixed-method needs analysis approach.
lack understanding of fundamental personal finance knowledge.
Financial Stress Due to Rent and Tuition:
The high cost of rent and tuition fees places a significant financial burden on learners, especially when combined with the cost of living in New York.
Understanding U.S. Financial Regulations:
The complexity of U.S. tax regulations and financial management systems is a major hurdle. International students often feel overwhelmed by the lack of clear, accessible resources to understand these topics.
International transfer Issues:
High fees and complicated procedures for transferring money from China to the U.S. are common frustrations.
Lack of Practical Guidance:
Many learners find the financial resources at NYU to be less helpful or are unaware of the more practical, relevant materials available to them.
"Chinese graduate students need interactive, culturally relevant financial education that covers practical topics like U.S. bank accounts, international transfer fees, and exchange rate management, along with budgeting, basic investments, and credit management.”
Learning Outcome
Chinese international students in the U.S. will develop key financial literacy skills to confidently manage their personal finances, make informed financial decisions, and reduce financial stress through effective banking, money transferring, and budgeting.
Learning Goal 1: Understand and manage U.S. banking systems with confidence to support effective personal finance management.
Learning Goal 2: Make international money transfer decisions by evaluating various platforms and analyzing exchange rates.
Objective 2:
Analyze exchange rate fluctuations and their impact on personal finances to develop strategies for minimizing financial losses.
Learning Goal 3: Build long-term financial discipline by applying effective budgeting strategies and monitoring financial habits.
Objective 2:
Apply budgeting knowledge by using appropriate budgeting tools to track income and expenses.
Objective 3:
Analyze financial behaviors and adjust budget plans regularly to build sustainable financial habits.
Final Design
Solution Overview
Our design solution includes two core components: learning and practicing.
Learning:
The learning component features a simulation game (Game-Based Learning) that helps Chinese international students at NYU understand key financial concepts and boosts their motivation.
Practicing:
The practicing component provides budgeting tools (Experiential Learning) and a peer discussion community (Connected Learning) where students can apply what they’ve learned to real-life financial decisions and habits.
Overview
Financial Frontier is an immersive, gamified learning experience designed to support Chinese students in developing core financial literacy skills. The entire experience takes place in a fictional digital world where learners navigate real-life financial situations through three interconnected game modules
Learning materials: simulation
Modality: Mobile Simulation Game
Facilitation: Progression Assistance
Bank Visit:
As a newcomer to the city, students need to open a bank account to begin their life abroad.
Prototype link: Bank Visit / BranchTrack
Forex Quest:
Players compare different money transfer platforms, and determine when and how to convert currency for optimal results.
Prototype link: Forex Quest / BranchTrack
Survival:
Players are given a semester-long budget (e.g., $10,000) and must allocate it across living expenses, academic costs, and unexpected events.
Prototype link: Survival / BranchTrack
Core Incentive Mechanism
The users can complete interactive tasks (e.g., participating in simulation games, posting, budget challenges) for scholarship sweepstake entries.
