The Sunk Cost Fallacy | Money Arata 63 

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Imagine the following situation: you've bought tickets to a concert, costing you $100 each. As the date approaches, you realise you're feeling terribly sick and the weather forecast is dreadful. However, you decide to attend the concert anyway, even though you don't really want to, because you don't want to waste the $100 you spent on the tickets.
This is a classic example of the sunk cost fallacy at play. The sunk cost fallacy is the tendency to continue investing time, money, or effort into something based on the amount already invested, rather than making a rational decision about the current situation.
Here's a practical takeaway lesson to help you avoid falling into the sunk cost fallacy trap: when making decisions, always focus on the potential future benefits and costs, rather than what you've already invested. This will help you think more rationally about your choices and lead to better decision-making, ultimately improving your financial situation.
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