Monitor Your Progress
- The sunk cost fallacy is the human tendency to keep working on something simply because we've already invested in it.
- This can be a negative because it can lead us to throw good money after bad.
- With our goals, it can also be a positive.
- By regularly reviewing your progress, you can activate the sunk-cost fallacy and resist the urge to quit.
22
261 reads
The idea is part of this collection:
Learn more about personaldevelopment with this collection
How to overcome unwanted thoughts
How to manage intrusive thoughts
How to change your attitude towards intrusive thoughts
Related collections
Similar ideas to Monitor Your Progress
The Problem With Quitting
- It has been internalized in us since childhood that we should never give up, and that quitting is bad.
- Many of us are stuck in the wrong jobs and due to this idea of not quitting, we waste a lot of productive years.
- We don’t quit because of a cognitive bias known as the
Why you are afraid of quitting
The sunk cost fallacy is one of the primary reasons you are so afraid to quit anything. It occurs when you tell yourself that you can’t quit because of all the time or money you have already spent. The idea of all of that going to waste is what is keeping you at bay, paralyzed at th...
Common Explanations for Status Quo Bias
These explanations are all irrational for preferring the status quo:
- Loss Aversion: When we make decisions, we weigh the potential for loss more heavily than the potential for gain.
- Sunk Costs: We continue to invest resources like time, mone...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates