Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
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Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
Episode 178: A Practical Guide to Dividing Your Income: Needs, Wants, and Savings
The Grow Your Wealthy Mindset Podcast
19 minutes
3 weeks ago
Episode 178: A Practical Guide to Dividing Your Income: Needs, Wants, and Savings
Have you ever wondered how much you should be spending on housing, groceries, cars, or fun? This episode breaks down how to create a realistic and values-based spending plan that fits your lifestyle and financial goals. Whether you’re creating your first spending plan or re-evaluating where your money goes each month, this episode will help you understand how to balance your spending between needs, wants, and savings—and how to adjust that framework to fit your own circumstances. You’ll learn...
The Grow Your Wealthy Mindset Podcast
Episode: Sunk Costs, Opportunity Costs, and Thinking in Terms of Expected Value Have you ever kept going with something—even when you knew it wasn’t worth it—just because you’d already invested so much time, money, or effort? That’s the sunk cost fallacy at work. In this episode of The Grow Your Wealthy Mindset, Dr. Elizabeth Chiang explores how sunk costs, opportunity costs, and expected value shape our financial and life decisions. Drawing insights from Annie Duke’s Quit: The Power of Knowi...
