The sunk cost bias is a thinking trap that not only slows down personal improvement efforts, but one which can make people literally waste their whole lives on.

Sunk costs are costs that are irrecoverable. It’s something that you already spent and that you won’t get back, regardless of future outcomes. It’s like that gym club membership you bought: whether you get its benefits or not, the money is gone and there’s no way to get it back.

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