Stop Making Decisions Off Of Sunk Costs

For most, if not every decision, there is a cost incurred as a result of an action. As I’ve learned in accounting, there are many different types of costs: opportunity, differential, etc. An interesting type is called a sunk cost. It can be defined as “a cost that has already been incurred and thus cannot be recovered.” Sunk costs are things that happened in the past that you can no longer control. You did something. It’s done. There is nothing you can really do about it.

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Your Morning Routines

How we start our days often serves as an indicator for how the rest of the day will go. Some decide to wake up super early, get a lot done, etc. Others sleep in and wake up perfectly rested. Sleep is super valuable, but so is time. So you have to choose which you value more. There is no right way to do it. It’s just about what works for you and what gives you the best “results.”

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