Sunday, December 27, 2020

How understanding the sunk cost fallacy helped reduce my waistline

Hi all, I just wanted to introduce some of you to an idea called the Sunk Cost Fallacy. It basically says that we, as irrational beings, think that we must do something because we spent money on it, even if we don't want to. As an example, say you're out at a nice dinner and you have an enjoyable meal and you order ice cream. By the time the ice cream dessert comes you realize that you are quite full and you no longer want the ice cream - but you end up eating it and regretting it, feeling sick and over stuffed "because I paid for it".

This mode of thinking creeps in a LOT.

As an example - I used to over eat because a lot of times I would say "I will start eating clean on Monday, but first I have to eat all the food I have in the house now because I paid for it". And you know how that went. Then I would convince myself that it was more economical to buy the great big bag of chocolate even though I knew I didn't want to eat all of that. Then I would convince myself that I had to eat the whole thing because I spent the money on it.

I am here to tell you; its okay to throw it away. Its okay to leave food on the table. Its okay to spend just a little bit more for a smaller size. Keep your eye on what matters to you! We make mistakes and over buy, say yes too often, or feel pressured to accept/finish things we were given. YOU DONT HAVE TO!

The sunk cost fallacy says that we will act irrationally when we know we've sunk the money in - but that money is gone either way. You can still live in a way that is in line with your values - let it go!!

That plate of Christmas cookies on the counter? You don't HAVE to eat them all because your friend made them. That Christmas pie in the fridge? I know you spent all that time and effort making it but its okay if you don't finish it.

When grocery shopping I like to ask myself two questions and the answer must be a yes for both if the item is to make it into my cart - Is it good for my wallet? (Are there reasonable alternatives like store brand items or economy size?) and is it good for my waist? (will having the entire contents of the item in the house lead to a binge, will the item bring me regret for eating it, or will the item be in line with my current weight loss goals?)

Just thought I'd share for anyone who needs to hear it!!

submitted by /u/FiveAlarmDogParty
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from loseit - Lose the Fat https://ift.tt/2WLh6FG

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