Money already spent is gone. Only the next decision is yours.
Direct answer
The sunk cost fallacy is staying with a choice because of what you have already spent, even when it no longer makes sense. The money or time cannot be recovered whatever you decide, so the sensible question is what gives the best result from now on.
Everyday examples
- Eating food you dislike because you paid for it.
- Keeping a gym membership you never use.
- Repairing an old car again and again because of past repair bills.
- Staying in a course you hate because you paid the fee.
How to break the habit
- Ask the fresh-start question: "If I were deciding today with no past spending, would I do this?"
- Compare future costs and benefits only.
- Accept the loss and move on.
- Set stop points before starting big projects.
Where Teyro fits
Teyro's Needs vs. Wants: Making Better Spending Decisions course turns this into short lessons you can play in a few minutes a day. It has 50 lessons, and you can start free.
The bottom line
You cannot get the past money back, but you can protect the future money.
This is general education, not personal financial advice.
