Truth Decay, Honesty and Money

Truth Decay

Disclosure: Nothing in this blog should be taken as investment advice. Do your own research. This blog is supported by advertising and affiliate links... Links to products and/or services on this blog may include links to affiliate programs that provide commissions to this blog. All of the content in this blog is 100% my own opinion.

Would you agree that the truth and honesty are important?

Of course.

Indeed, you might even believe that the truth is ultimately more important than any one person is by him or herself.

It’s sad, then, that he truth seems to be going through a tough time these days.

How bad has the assault on the truth become? Bad enough that the Rand Corporation has published an ebook (below) on it.

It’s called “Truth Decay“.

Truth Decay addresses the increasing disagreement about what facts are.

The truth is under assault because of blurring lines between opinion and fact… Because of the increase in influence of opinion and personal experience over fact… Because of the decline in trust of formerly respected sources of facts.

Rand has determined that there are some main drivers of “Truth Decay”:

  • Our own cognitive biases.
  • Constant access to highly personalized information (aka the “filter bubble”).
  • The inability of analog education methods (i.e. schools) to compete with digital information and media.
  • Increasing social and political polarization.

It’s sad that popularity and media are being conflated with the truth.

It turns out that your understanding of, and relationship with, the truth also has an impact on your money.

Being Honest Also Matters to Your Financial Health

Your understanding of what the truth is has an impact on your personal life.

Your desire to succeed in life he truth means being honest with yourself about things.

It means asking yourself questions and expecting honest answers from yourself…

Are you doing well? Are you working as hard as you could to move toward your goals?

Are you saving money enough?

Are you drowning in debt because of stupid decisions you’ve made? Are you buying things you can’t afford?

Do you tell your children one thing and do another?

In the eyes of your children, the truth is what you do… Not what you say you do.

Are you doing well financially? Can you really afford the level you are living at today? Are your liabilities greater than your assets?

The truth is measurable.

  • Truth is what you read when you step on the scale.
  • The truth is what you see when you look at your net worth.
  • The truth is what you do, not what you say.
  • The truth matters more than a personal agenda.
  • The truth can be discovered through evidence.
  • The truth is irrefutable.
  • The truth is not always popular.
  • Popularity and the truth are very different.

The truth is what matters to your relationship with yourself, your family and your money.