Why Past Choices Can Make It Hard to Stop

Imagine you buy a film ticket. Halfway through, you are bored and want to leave. But you stay because you paid. Staying will not bring your money back.

A sunk cost is money, time or hard work that you cannot get back. It can affect your choices. This is called the sunk cost effect. Stopping may feel like saying your first choice was wrong. But when things change, a different choice may be better.

First, think about what you cannot get back. Then ask: what is the best choice now? Think about what each choice could give you and cost you from now on, not what you spent before.

Imagine another example. You spent several weekends making a shelf, but it no longer fits your room. You cannot get those weekends back. How much more work will it need? Will you use it? Changing it may help. Finishing just because you started may not.

This does not mean you should always stop. The film's ending may be good. Finishing a difficult project may teach you useful skills. Also, think about promises you made and costs you may face later.

Learn from the past, but do not let money or time you cannot get back make your next choice for you.