What is the sunk cost fallacy?
The Sunk Cost Fallacy describes our tendency to follow through on an endeavor if we have already invested time, effort, or money into it, whether or not the current costs outweigh the benefits. It can be a big problem when we aren't aware of its impact on our decision to stick with versus abandon our plans when it comes to money, relationships or other key decisions in our lives.
In this episode we cover ways you can work through these challenges and detect these situations much earlier.
129 - Decoding Your Superannuation Statement
128 - Budgets under Stress
127 - The Sparrow Folk
126 - Super Insurances
125 End of Financial Year Prep
124 - Car Insurance
123 - Rentvesting
122 The Budget - What's in it for you?
121 Buying vs Renting
120 - Inflation - Why does it matter?
119 Investing vs Paying down your mortgage
118 - Live abroad without quitting your day job
117 - Lending update
116 Scams
115 Working out your Net Worth
114 - Goals setting ft. Jenni Walke
113 - The Savvy spenders Christmas Guide
112 - Protecting Kids & Crucial Conversations
Episode 110 - Backing Yourself ft. Lessli Strong
110 - Federal Budget - what's in it for you?
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