The sunk-cost fallacy

Many people who are desperately unhappy in a personal relationship or job are reluctant to leave due to the energy, time, emotion, and money put into said relationship. Similarly, if you buy something expensive that turns out to be useless, but can only be sold at a loss, you may be reluctant to let it go. This is the sunk-cost fallacy. 

The financial loss will be there whether you hang on to that item or sell it. But if you keep it, you will be reminded every time you see it that you wasted money on it. It will be a mental burden of sorts. Set it free. Let it go. Value in life is often not about money, and life is too short to look at a white elephant gathering dust and bad feelings.

Author: Janet Carr

Fashion, beauty and animal loving language consultant from South Africa living in Stockholm, Sweden.

One thought

  1. I love this. I have been decluttering my home. I can’t seem to sell these things. So, I have been giving many of these items away to friends and charity shops.

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