Sunk

Here is a little article about sunken costs. I thought it was pretty interesting. It talks about sunken costs being money you have already spent and can’t recover. And how you shouldn’t make decisions based on these lost costs. The classic example is buying a movie ticket and then getting sick and not wanting to go. The theory of the sunken costs is that you should not consider the price of the movie ticket in your decision-making. I have heard this idea before but I had forgotten all about it. I have actually been thinking about this recently but couldn’t pin point my thoughts. But this is exactly the idea I was trying to find, sunken costs.

I was thinking about it in reference to my diet. Like the other night I got a shake from Sonic. About half way though it I would have been fine to stop eating. But I finished cause I had paid for it. But the price of the shake was a sunk cost, it shouldn’t have been included in my decision on whether or not to finish the shake. I mean, the damage to my wallet had already been done, no need to continue to damage my diet too.

This idea can be applied to your life in so many ways, not just financially. It’s a really interesting concept and I think if I could apply it thoroughly it would really make a difference. I think it would make me calmer, more peaceful, even happier.