273 – Debt and The Sunk Cost Fallacy
Nov 23, 2019•20 min•Season 6Ep. 273
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more
Episode description
The Sunk Cost Fallacy is easy to understand: you’ve spent the money, it’s gone, but you keep on doing what you’re doing, whether or not it makes sense, because you’ve spent the money.
You go to a restaurant and eat every morsel of food on your plate, whether you are full or not, because you’ve spent the money!
On today’s show Ted Michalos explains how the Sunk Cost Fallacy is a disaster with how you treat debt, and we give some practical advice on how to overcome it.
For the best experience, listen in Metacast app for iOS or Android