If You Want To Move Forward And Make Better Decisions, You Need To Remember These 3 Words

Zinger Key Points
  • The sunk cost fallacy is when someone is so invested in something they are unwilling to change direction, even if it's clearly beneficial.
  • If you find yourself caught in a situation like this, don't forget that sometimes it's better to move on.

It's easy to lose sight of the bigger picture and get hung up in the hills and valleys of day-to-day life. There's a three-word phrase you can keep tucked in your back pocket as a reminder to take a step back and look at what's really important.

Zoom Out: According to an Inc report written by Justin Bariso, author of "EQ Applied: The Real-World Guide to Emotional Intelligence," one way to stop emotions from swallowing logic is to remind yourself that sometimes you just have to let it go.

"Of course, letting it go is easier said than done. It's amazing how quickly you can become emotionally attached to an idea. This is partially because of what is known as the sunk cost fallacy," Bariso said. 

See Also: 4 Brain Hacks To Supercharge Your Success

Sunk cost is a logical fallacy where someone is unwilling to change direction from a certain course of action because they have already invested significant resources toward it, even though it's pretty obvious that making a change would benefit that person. 

The resources could be money, but it could also be time and energy or a combination. 

"You've grown so emotionally attached to that idea, you can't imagine reversing course. But deep down, you know you'll regret it if you don't," Bariso said.

This can be a business idea that you are better off leaving in the dirt, a product that you have spent a significant amount of time researching or even a relationship that you've been in for an extended period of time. 

The key to bettering yourself is being able to let it go, so when you find yourself in one of these situations, try reminding yourself that sometimes it's just better to move on.

"While letting go never feels good in the moment, your future self will be eternally grateful," Bariso said.

Read Next: Elon Musk Reveals 3 Key Behaviors To Help You Stand Out From The Rest Of The Herd

Photo: WOKANDAPIX from Pixabay.

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Posted In: NewsEducationPsychologyGeneralBenzinga InspireIncJustin Bariso
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