112.1K
BIThe 'Sunk Cost Fallacy' with Julia Galef. #gametheory #strategy
@bigthinkers
#Sunkcostfallacy
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ALThe Sunk Cost Fallacy is affecting your decisions 📉
@aliabdaal
579.1K
GRAre you holding on to something just because of the time, money, or energy you’ve already invested?
The sunk-cost fallacy, a concept typically associated with investing, also applies to life as a whole.
Our tendency is to continue pursuing things in life regardless of their potential, because it’s hard to swallow the sunk cost. This keeps us stuck in jobs, relationships, and places that no longer serve us.
The hard truth is, this sunk cost can’t be recovered. This investment alone, is not a valid reason to continue.
When making a major decision consider instead asking yourself, “If I were starting today, would I make this choice again?”
What’s the sunk cost in your life you need to let go of? Drop it in the comments.
#mindset #growth #goals #achievement
@grahamcweaver
5.6M
ODsunk cost fallacy at its finest #mschf
@odditytech
2.7K
NAThe sunk cost fallacy explained
.
#thoughts #fact #facts #psychology #fyp #mindset #goals #success #business #decisions #relationships #fact #lifechanging #life #lifehack #sunkcostfallacy #selfimprovement #improvement
@nanaibrhmm
67.1K
ECAre you a victim of Sunk Cost Fallacy? @ecommjess wants you to know about this super common psychological phenomenon that holds us back from reaching new heights and going after what we want.
For all things money, follow @ecommjess !
For all things money, follow @ecommjess !
For all things money, follow @ecommjess !
Has this ever happened to you? How did you overcome it? Let me know in the comments.
#job #careeradvice #lifehacks #sunkcostfallacy #psychology #careergoals #moneytips #work #hustleculture #toxicrelationships #lifelessons
@ecommjess
43.1K
KIWould you stay on the plane? Be honest.
#podcast #sunkcostfallacy #relationshipadvice #wastedtime #moveon
@kind_push
800.2K
MU🔥 “8 Lessons Millionaire Parents Teach Their Kids… That Schools NEVER Will 💰🚀”
If you weren’t raised by wealthy parents, don’t worry—because you can break the cycle & teach YOURSELF. 👇👇
1️⃣ Control the controllable – Stop stressing over what you can’t change & start mastering what you can. 💡
2️⃣ The most important decision? Who you marry. 💍 The wrong partner = financial disaster. The right one? An empire. 🏆
3️⃣ Activity is the healer of all anxiety. Feeling stuck? MOVE. Action kills doubt & hesitation. 🏃♂️💨
4️⃣ “Show me your friends & I’ll show you your future.” If your circle isn’t elevating you, it’s holding you back. 🚶♂️➡️🏆
5️⃣ You are the average of the 5 people you hang around most. Broke friends? Broke mindset. Wealthy circle? Game-changer. 🔄💰
6️⃣ You get what you allow. If you tolerate excuses, laziness, & toxic environments… don’t be shocked when life gives you more of it. 🚫
7️⃣ All boys are rotten. (LOL) 😂 – This one might be a joke, but the real lesson? Be selective about who you trust & let into your life. The wrong people will cost you more than money. 🚩
8️⃣ Sunk Cost Fallacy. – Just because you’ve invested time, money, or energy into something doesn’t mean you should stay if it’s no longer serving you. Cut your losses & move smarter. 💯
💡 Which one hit you the hardest? Drop a 🔥 in the comments & tag someone who NEEDS this mindset shift! #MuneyMindset #WealthHabits #SuccessBlueprint
🎥: @talia.breyer
@muneymindset
3.6M
PS🤯 You might not realise you do these ↓↓
1. Planning fallacy (Buehler et al. 1994) → it’s a tendency to underestimate the time needed to complete a future task, leaving us frustrated and stressed when things take longer (I do this ALL the time 🤦♀️)
2. Interpreting your thoughts as facts → mental events that pop up in the mind are dependent on our mood, try not to assign permanency to temporary feelings or assign truth to fleeting negativity (Rachman & Shafran 1999)
3. Filtering out the positive → if nine good things and one bad thing happens, often we throw the positives out the window, resulting in an unbalanced and downcast outlook (Yuricha & DiTomasso 2005)
4. “Mind-reading” → no one can mind read, not even psychologists! Everyone is complex, and it’s simply unrealistic to assume what someone else is thinking (especially if you’re assuming the worst)
5. Self-sabotaging quality sleep → cutting back on sleep is never worth it (Gallocchio & Kalesan 2009), ask yourself why you’re procrastinating sleep, what will help change that?
6. Sunk cost fallacy → once we’ve sunk any cost into something, we tend to resist abandoning that strategy because we’ve already ‘invested’, even if switching gears is the smarter choice (Haita-Falah 2017)
7. Labelling → a classic cognitive distortion, for instance: just because you flunked one test, you’ve suddenly labelled yourself a ‘failure’… when of course you are not a failure! (Yuricha & DiTomasso 2005)
I’m a student, not an expert ;)
#thoughtsarenotfacts #psychologystudent #psychological #lifehacks #badhabits #selfimprovement #mistakesarelessons #youvegotthis #trendingaudio #labelling #sunkcostfallacy #getmoresleep #planningfallacy
@psychologywithcharlotte
593.3K
PHStarting over is scary at any age…
For me, at 35, left my job, left my country and left my way of life, I was starting all over again.
All whilst my friends were getting on with their lives and continuing what they had built in their 20s and early 30s.
It would have been way easier to buy in to the sunk cost fallacy, believing that I couldn’t abandon the years of work and effort I’d put into building the life and career I had.
But if you’re headed in the wrong direction, then whats the point?
What I found was that once I made the change, other positive changes in my life began to speed up.
Momentum finally started working for me instead of against me.
My health improved, my energy came back, and opportunities I could never see before suddenly appeared.
Starting over didn’t set me back, it woke me up.
Sometimes you have to let go of the version of yourself that everyone else recognises to become the version you were actually meant to be.
It’s uncomfortable, it’s uncertain, but staying stuck is far worse.
If you know you’re on the wrong path, stop waiting for the “right time.”
There isn’t one.
Start again. You’ll be amazed how quickly life starts aligning once you do.
@phil.hadfield
178.1K
ERwhen you know, you know
@eric_dodds
899.9K
LEThis you? Cuz it’s definitely been a part of me before… ofc love, feelings, care, investment, time, etc are all contributing factors to the sunk cost fallacy, but not everyone stops to consider how much their EGO and desire to WIN, and make sure their ex is the “bad guy” and try to stay in a position of power comes into play… maybe you don’t want them back you don’t want “closure” you just want to prove you are better than then, have them crawl back so you can “close your” door on their fingers.. #selfawareness #heartbreak #breakuptips #breakupadvice #movingonquotes #lettinggoofthepast
@leviwashington
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