#499: Do Not Fear the Sunk Costs (Friday, July 22)

In economics and business decision-making, a sunk cost is a cost that has already been incurred and cannot be recovered. 

In life, people sometimes let the fear of the sunk costs cripple them from moving forward. They feel like since they have already invested X amount of time, energy, money, etc. they should continue on the same path so as not to make the "loss" greater, or to make their investment thus far "worth it."

But do not fear the sunk costs. Don't let it keep you in a rut (or put you there). You can always change course and go a different route; it's never too late.