What are FUD Financial messages? FUD is a technical term from the world of politics where you try to create Fear, Uncertainty and Doubt with your message. FUD is usually a strategy to influence perception by spreading negative and dubious or false information leading to fear-mongering and concerns to the public. Naturally, you do this to create an advantage for yourself or cast aspersions on an opponent.
It is easy to see the power of FUD in the last few elections. Politics, however, is not the only arena where FUD works.
FUD financial messages are out there. Usually, to cause you to wonder whether you are using the right bank or insurance company. Many times it is that you are missing out on a great deal. All Fear of Missing Out (FOMO) messages are in this genre.
Some might argue this blog is a FUD financial message. However, getting out of debt is not FUD in my book.
The message continues to be confusing to most folks. The Truth in finances is unclear to many folks (if any). There are few places, unfortunately, where consumers can get clear and truthful financial information.
I find the entire investment industry seems to be a FUD Factory.
- Cryptocurrency seems to be the leader in FUD. You will miss out on untold riches unless you buy one of the over 200 cryptocurrencies (even though you have no idea what it is).
- In Canada, there is tons of FUD swirling around legalized Marijuana, even though most of the companies seem to spend a great deal more than they are making currently.
- Actively managed funds want you to be unsure that you are not making the vast growth they can offer. However, Index Funds point out that actively managed funds can’t keep up their claims (and thus are part of the financial FUD game).
Get the tools you need to comprehend truth from fear-mongering and create Financial Firewalls to filter out the disinformation.
Remember that sometimes FUD is a good thing, and the salesperson you are dealing with is trying to allay your FUD with any lie that will cause you to buy their product.