The Legend of the Sunk Costs

It’s about 11 days to the start of a new year, what a year 2018 has been!

I’d like to think the theme of this year has been along the lines of the Sunk cost principle.

I came around this principle for the 1st time in the course of my MBA. The Sunk Cost describes any investment (time or money) that is forfeited because of its inability to “return on investment” as required.

So this year, I found that I applied that principle a lot around issues affecting my time, money, affection, etc. Generally it was a guiding light that I didn’t even see until I began to reflect on the year I have had.

I find that I am ending the year lighter-headed because there’s hardly any baggage to pull along.

The first event on the list of happenings that brought me here was losing my phone. Since 2012 I have become more fortunate and careful with my phones, and as a result I have been able to carry “baggage” of memories on a phone from all those years with every phone I had going forward (technology is a beautiful thing). Until in April when my phone was stolen in the most unlikely place and I lost everything. No backups. Nothing.

I groaned because I lost a tonne of pictures and drafts with the phone, then I eventually made peace with losing them all forever. I called it the Sunk cost of memories (that were not helping me if I was being honest).

Starting over with a new phone and finding little stashes of my data from online sources was nice. I also lost EVERYONES number so right now I’m only able to be in touch with people who have since that time tried to be in touch. It’s exhilarating to find people who check up on you when it’s not just birthday or Christmas. So there is also less access to people outside your tribe or relevant to your current cycle.

In all, the learning, unlearning and relearning process have made me a better cohabitant of earth. I’d definitely recommend the letting go/moving on/starting afresh to any situation that is causing less joy to one than anticipated. Consider the investments as sunk cost, cut the losses and embrace freedom on the other side.

A bientot!



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