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.
68 Cars - What you need to know before you buy
67 Frugal February
66 Saving $1,000 in 10 weeks challenge
65 - 2021 New Year resolutions
64 Christmas tips and budget hacks
63 Paying off your home loan lightning fast
62 Budgeting - Under the Hood
61 Using the First Home Super Saver account to buy your first home
60 Mortgages - Lending tips and tricks
59 Career Chat - Women in Finance with our very own Katherine
58 Too good to be true
57 Horror Stories - Halloween Special
56 Public v Private School
55 Career Chat - Chicks in I.T
54 The Federal Budget Edition - What does it mean for you?
53 What to do with a Windfall
52 Zero Interest Ever Credit cards - Review
51 Anniversary Edition
50 Super v mortgage
49 Bookkeeping - Outsource or DYI?
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