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Sunk Costs are investments of time, energy, and money that can’t be recovered once they’ve been made. No matter what you do, you can’t get those reso… - Josh Kaufman
" "Sunk Costs are investments of time, energy, and money that can’t be recovered once they’ve been made. No matter what you do, you can’t get those resources back. Continuing to invest in a project to recover lost resources doesn’t make sense — all that matters is how much more investment is required versus the reward you expect to obtain.
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I can’t emphasize this enough: the quickest and easiest way to screw up your life is to take on too much debt. The primary reason people spend decades working in jobs they despise is to pay off their creditors. Financial stress can destroy relationships, threaten your health, and jeopardize your sanity.
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Over time, the Accumulation of small helpful or harmful behaviors and inputs produces huge results. According to Lean Thinking, by James P. Womack and Daniel T. Jones, Toyota’s approach is based on the Japanese concept of kaizen, which emphasizes the continual improvement of a system by eliminating muda (waste) via a lot of very small changes. Many small improvements produce huge results. Accumulation isn’t always positive. Think of what would happen to your body if you consumed nothing but fast food, candy bars, and soda for a decade. Eating a single candy bar isn’t a big deal, but eating hundreds of candy bars is. Fortunately, the opposite is true as well: small improvements in your diet, a little more exercise, and a little more sleep can have major effects on your health over time.
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