What exactly is sunk cost fallacy? It's a tendency to follow through on our endeavors if we have already invested time, effort, or money into it, regardless of if the current costs outweigh the benefits.
But to me, it's completely irrational to continue with something just because you've spent time and money on it, but people do it every single day. It's 100% human nature. They stay in jobs they hate, marriages that are no longer serving them, and friendships that don't make them happy.
When we stay in these situations that aren't serving us anymore, we are completely ignoring our own well-being and happiness. What's the point of doing something if it makes you miserable?
In today's episode, Todd and I are talking all about the sunk cost fallacy, why your decisions about the future shouldn't include what happened in the past, and how to get over the idea of people labeling you as a quitter.
Get ready to hear:
-What is the sunk cost fallacy anyway?
-A super simple way to understand the idea behind the sunk cost fallacy
-Why I don't think you should include the past in the decisions you are making about your future
-How we can recognize when we are stuck in situations we believe we just have to push through
-Overcoming the perception of people thinking you're a quitter
If this episode made you feel stoked, be sure to share it with a friend, leave a review, or DM me on Instagram at @stokedwithmeganmacphail and let me know your thoughts.
You can also connect with me on my website: www.meganmacphail.com
