3 Money Lessons I Learned from Playing Candy Crush

Have you, or someone you know, ever played Candy Crush?  I have!

If you were like me, you may have fallen into the Candy Crush Addiction.  If you didn’t, bless your heart!

Nonetheless … Surprisingly, Candy Crush has been pegged the Game of 2013. Not necessarily because it was the “best” game of the year, because it was not (in my opinion); but, its revenue exceeded $600,000 a DAY per Huffington Post!  Yup! PER DAY!!! Of course, many of us who got sucked in may now resent it for being so addictive. For whatever reason, we just couldn’t stop playing this game and obviously millions of us actually paid to continue playing.

Although I have since repented and turned from my Candy Crush Addictive ways, I now realize that this game taught me or reinforced a few things about personal finance.  So here are the 3 Cash & Credit Lessons that I got from Candy Crush.

IT’S A FREAKIN\’ GAME

Hold up … Wait A Minute! Before you say, “DUH!”… Let me explain. When I first played Candy Crush, I started playing without really knowing the rules of the game.  And, of course, with any game, it is always important to know and understand the rules of the game before you play so that you have a better chance of winning.  Instead of reading the rules and possible ways to win, my strategy was “Trial and Error” (heavy on the Error). So, even though I would win a few times, I actually lost more times than I won.

The financial services industry is like a Game. There are rules and ways to win. Most people, including myself, did not learn the rules of the game before we started playing it – when we opened our first deposit account or got our first loan or credit card.  Our strategy was “Trial and Error” (heavy on the Error). And even though we won a few times, we actually lost more times than we won, which became expensive mistakes.

Candy Crush reinforced the importance to always read the rules of the game before we play. So, make sure to read the Truth In Savings for deposit accounts, the Fee Schedule with the list of all of the fees, as well as the Loan or Credit Card Agreement before you “play” the cash & credit game.

IT’S GONNA COST YOU!

Here’s how Candy Crush cost me.  When I used up all of my moves and lives trying to win the (higher and harder) levels, I had to either ask other players for help and WAIT for them to send me lives and moves OR … I had to pay a fee to continue playing. Yes, I could have chosen to wait a few hours until my lives and moves were restored, but I had a sense of urgency to want to play and win NOW! So I paid the “nominal” fee to continue to play. That’s not so bad, right?  Wrong! That nominal fee, several times, turned out to be a major expense.

This reminded me of the overdraft protection on checking accounts, also known as courtesy pay. Overdraft allows a transaction or check to go through (or be paid by the bank) even if there is not enough money in the account, for a fee, usually $25 – $40. Many of us are willing to pay the overdraft fee to avoid a check being returned unpaid or to avoid being embarrassed at a store when we are making a purchase. That’s not so bad, right?  Wrong! Overdraft fees can turn into a major expense and could result into a financial hardship if it is not managed or if it is charged several times. “On average, overdrawing an account costs customers $225 in fees per year, according to a new study from the Consumer Financial Protection Bureau.” And is some cases, consumers are paying this amount per month.

Candy Crush reinforced the importance of restraint and discipline.  When there is no more money left in the account, it is, of course, best to stop spending. The best way to handle this is to create a spending plan and / or use cash to avoid overdraft fees.

IT’S OK TO RECEIVE HELP!

It was so awesome when I opened the game and I had messages from Facebook friends that gave me Lives and Extra Moves. I, of course, willingly accepted those lives and moves so I could continue to play the game.

However, this was not as easy to do in real life.  When I was dealing with financial hardships, it was very hard for me to ask or accept help from anyone. It killed my ego and hurt my pride. I was the one that helped others. Then one day I realized that “My Pride Was Putting Me in the Poor House.”

Candy Crush taught me that it is ok to receive help from family and friends. So, when my family and friends offered to help me when I really needed it, I decided to let them and graciously Thank them. This allowed me to “play” another day and pay the necessities during those rough financial times.

Always Remember:

• It’s A Freakin’ Game, so read the rules before you play;
• It’s Gonna Cost You if you don’t use restraint and discipline; and last but not least …
• It’s OK to ask and receive help from family and friends when you really need it.

So, the next time you play Candy Crush, SMILE … because it’s actually teaching you something!

Best wishes on reaching Your “Next Level!”

Making Money Matters Manageable,

Tarra Jackson