Sunk Costs
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Autoplay OFF  •  2 years ago

Sunk Costs

You're likely losing to sunk costs

Sunk costs are costs you've already paid. Eg. a gym membership you pre-paid for.

We should make decisions in the now

If you paid for concert tickets but you really do not want to go, forcing yourself to go doesn't make you happier. The amount you paid for the ticket is a sunk cost

Maximize for happiness in the now

You've already spent the $80 for the ticket. You will never get it back. Think of it as a fresh start where you have the option to go.

We all make this mistake. Consciously or not

Life is better when you optimize for happiness

Not for money

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