Sunk Costs: Know When To Cut Your Losses

Saara's Bright & Quirky Helsinki Loft I recently learned a new term: sunk costs. This economic principle centers around the idea that once you've paid for a good or service, you have spent that amount, and it's sunk. If you don't like what you've purchased, there's often pressure to continue using it avoid "wasting" that money. Economically, this is ridiculous. The cash is gone whether or not you continue to sit through that terrible movie or hate-wear your itchy sweater. Sound familiar? We do t...