Comments on: What Is FUD? (Don’t Fall for It!)

By: Joel

Joel — Wed, 20 Oct 2021 18:39:04 +0000

In reply to Angie. That's an awesome question to ask yourself. I also like "If I was the only person in this world, would I still buy this?"... It catches me when I want to purchase something just cause everyone else has it or I think it will look cool :)

By: Angie

Angie — Wed, 20 Oct 2021 16:12:10 +0000

Great post on FOMO/FUD and thanks for giving examples of how a lot of headlines/media exploit human emotions to get them to do irrational financial decisions!

I feel like one of the best litmus tests for me when I want to do a financial transaction is to ask myself: “How am I feeling right now?”

If I have feelings of FOMO or anger or I feel like “I *HAVE* to do this trade or else…” – I walk away nowadays. And if I go back in retrospect, it’s almost 100% of the time that walking away is the best decision.

By: Joel

Joel — Sat, 16 Oct 2021 13:49:14 +0000

In reply to Angie Pannkuk.

Hey Angie, I’ve got a good deal for you… But you need to act NOW… As of today, 1 share of VTI is $230. I suggest people buy as many as they can with their savings because the price is almost certainly going to go higher and higher and higher over the coming decades. :)

Kidding aside, I agree with you. There’s a tasteful way to give people incentives and many people choose the opposite. Glad you got your money back from the paypal guy.

As for the video program, I have no clue about the costs involved. I’d focus on the value it’s going to provide your life and whether you think it’s personally worth it for the price. :)

By: Joel

Joel — Sat, 16 Oct 2021 13:38:52 +0000

In reply to steveark. I'm sure you've witnessed the whole bag of sales tactics. Glad you were able to cut through the crap :)

By: steveark

steveark — Fri, 15 Oct 2021 21:06:32 +0000

I made a lot of purchase decisions at work. I didn’t mind competitors bad mouthing each others offerings. I just tried to get to the facts, sometimes they were right and that information was very useful to avoid an inferior or overpriced product. Of course in a work setting you aren’t exposed to FOMO or greed or FUD as much because it isn’t your money and you aren’t buying things for yourself. But maybe because of my work experience I was pretty impervious to FUD and just relentlessly dug for facts instead of opinions. But that’s typical for engineers.

By: Angie Pannkuk

Angie Pannkuk — Fri, 15 Oct 2021 11:46:13 +0000

I don’t seem to mind when companies do it but despise when individuals do it.
For example, I really want to get flexible and learn better mobility. I started following this expert on Facebook and finally decided to take the leap and do a free consultation call with him.
Bottom line, he told me if I signed up (before the call ended), the program would only cost $5000. If I didn’t, the program would cost $8000. To be honest, the manipulation worked. He got me to PayPal him $5000. However, after thinking about it for 24 hours, I decided to pursue a full refund. After several back and forth emails, I finally got my refund. He clearly reminded me though that it would be $8000 if I signed up in the future. Because of this, he will never get any of my money. I HATE manipulation!!!!

Another example just happened to me recently and I’d like your take on it. I follow a lady whose had much success healing all of her health problems thru a particular diet. I’m on her email list. Just this week, she decided to increase the price of her “program” (15+ videos).
The current price is $343. On Oct 22, it goes up to $555. On Oct 29, it goes up to $777. On Nov 5th, it goes up to $1000. Then on Nov 13th, the program will no longer be around til next year??

This seems slimey to me. First of all, you can’t tell me the same information on those videos is worth now $600 more in a few weeks!!!
Now again, this slimy tactic does work because I’ve always wanted to get a select few videos and those individually will be going up as well.
Sadly, this just reflects a person’s morality.
I also hate how everyone tries to overprice everything. Just because you can get more money doesn’t mean you should.