How to Deal With Sunk Costs & Be A Better Spender!
OK – it’s time to get psychological here, and no, there won’t be a test! We’re
going to talk about the effects ‘sunk costs’ can have on your finances.
A sunk cost is money that you’ve put towards something you can’t get back.
Whether it’s a non-refundable purchase (sale items), a phone or a deposit on a
vacation rental, it’s spent money – regardless of what you do afterwards. Sunk
costs can get dangerous when you need to spend more just to get value out of
what you’ve already spent.
For exampl