Why You Need To Quit More

Hi everyone, Noah here. Hope you're all doing great!

I've been really enjoying making deeper, more thought-provoking TikToks lately. In this edition, I'm diving into a concept that's been incredibly valuable to me: the 'Sunk Cost Fallacy.'

What is the 'Sunk Cost Fallacy'? It's a common trap where we continue investing in something due to our past investments (time, money, effort), even if it no longer aligns with our current goals.

Here's an example: You buy a $15 sandwich but after one bite, you realize you hate it. You face two choices:

A: Keep eating it because it was expensive, despite disliking it.

B: Discard it, accept the $15 loss, and learn not to order it again.

Choosing option B shows you understand the Sunk Cost Fallacy and know when to quit.

This principle applies beyond sandwiches. It's useful in major life decisions:

- Degrees: Some start a degree but soon realize it's not for them. Despite this, they continue for years, ending up with a qualification they don't need.

- Businesses: Many continue running unprofitable or joyless businesses due to a sense of obligation.

- Relationships: People stay in unsatisfactory relationships because of the time or money invested.

Quitting what no longer serves you opens doors to better opportunities:

- Leave a toxic relationship, and you're closer to a healthy one.

- Exit an unprofitable business, and you can start a more rewarding one.

- Drop an unenjoyable degree, and you're free to find one you love.

In life, I try to transform potential regrets into lessons. Failed investments of time, money, and effort should be viewed as learning opportunities, not regrets.

Life often takes unexpected turns, and that's okay. Leaving behind past investments is part of life's journey. They teach us lessons and may have been beneficial at some point, but it's okay to move on.

Understanding the 'Sunk Cost Fallacy' is liberating. It encourages us to make decisions based on our present and future, not our past. It's about knowing when to let go and pivot towards paths that better suit our current goals and well-being.

Ask yourself: Are you succumbing to the 'Sunk Cost Fallacy' in any area of your life? Could a change in perspective lead to growth and happiness? Remember, it's never too late to reassess and change your direction.

I'd love to hear your thoughts on this. I respond to every email reply to this newsletter! If you reply, I'll share a personal story about the Sunk Cost Fallacy as a little bonus.

Catch you later,

Noah