136 - The Sunk Cost Fallacy Phenomenon

from Money Madams · host Money Madams

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.

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This episode is 27 minutes long.

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This episode was published on November 26, 2023.

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