249. Understanding sunk cost fallacy & why it is hurting your decision making
Do You F*cking Mind?
Alexis Fernandez-Preiksa - Neuroscientist and Mindset Coach
4.9 • 914 Ratings
🗓️ 1 October 2023
⏱️ 43 minutes
🔗️ Recording | iTunes | RSS
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Summary
The phrase Sunk Cost Fallacy is going to help you stop wasting your time on shit that doesn’t work. In this episode I’m explaining this concept where you keep putting money and time and effort into something that isn’t working, but you don’t want to quite cause of all the effort you’ve already put in.
Brain Fact: Cyclooxegenase and reducing pain and inflamation in the bodyÂ
Listener Question: I have been cheating on my wife for 7 years, and the woman I was cheating with recently broke up with me. How can I get over that heartbreak while not telling my wife about the affair because I don’t want her to leave me.
LINKS
- Send your Listener question to info@dyfmpod.comÂ
- Read 'How susceptible to the Sunk Cost Fallacy are you?' from Harvard Business Review https://bit.ly/sunkcost-fallacy .
- Follow @dyfmpodcast on InstagramÂ
- Follow @alexispredez on Instagram Â
- Join the DYFM Facebook Group https://bit.ly/dyfm-group .
- Follow @listnrentertainment on InstagramÂ
CREDITS
Host: Alexis FernandezÂ
Executive Producer & Editor: Elise Cooper
Digital Producer: Oscar GordonÂ
DYFM Social Producer: Shania Magua
Managing Producer: Sam CavanaghÂ
See omnystudio.com/listener for privacy information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | A Listener Production |
| 0:03.9 | Please leave your message after the tone |
| 0:07.4 | Why am I jealous of my ex? |
| 0:09.8 | I am so stressed all the time. |
| 0:11.9 | How do I get into a routine? |
| 0:13.4 | Is TikTok making me anxious? |
| 0:15.2 | I think I'm being manipulated. |
| 0:17.0 | Someone told me you could live with half a brain. |
| 0:19.5 | This is Do You Fucking Minds? |
| 0:21.2 | Mindset Hacks for a Badass Life, hosted by me, Alexis Fernandez. |
| 0:26.7 | Hello, my beautiful burns, and welcome to today's episode. |
| 0:30.4 | So today's episode, we're going to be talking about something very fun because once you shed |
| 0:34.7 | a lot of, a lot of the things that we do in our life, |
| 0:41.6 | we don't even realize that we're doing it. And this is, I think, one of them. And once you shed light on this, which is the sunk cost fallacy, and why it is screwing you, once you realize |
| 0:47.9 | how much you're screwing yourself over for doing this and all of us do it to some extent, |
| 0:52.3 | it will be like a light in your life and you'll be able to change so much about your life. |
| 1:00.0 | You'll be able to approach things differently. |
| 1:02.9 | It is all about how you deal with losses, how you learn to cut your losses, |
| 1:08.3 | how you deal with wins, the possibility for win versus the possibility |
| 1:11.8 | of a loss, and how you stop yourself from investing more time, money, energy and resources |
| 1:19.9 | into things that are actually not working for you. So I'm going to give like a much better |
| 1:24.6 | explanation and then what you can do to go about it and then questions |
... |
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