Life can throw curveballs from anywhere and at any time. So why is it that most of the financial planning information and advice available in the marketplace seems to assume that life is linear?
“The information tends to be of the sort ‘If you do A plus B plus C, you will always get D,’ but that’s not how the world of money works,” says Vicki Brackens, president of World of Cheddar in Syracuse, N.Y., a financial education firm that focuses on the impact of games, game mechanics and “gamification” on learning. “What we really need are financial literacy models that take into account the fact that no decisions are linear. We need models that allow people to work through a system that looks very much like life itself.”