The Sunken Cost Fallacy and Your Wardrobe
I often bring up the sunken cost fallacy (gently) with clients. It’s when when you continue with something which is clearly a disaster, or a mistake or unhelpful just because you've invested time, money, or energy into it.
One of my downfalls is buffets (remember them?) I’d overeat simply to get my “money’s worth.” I’d feel lousy after, but it didn’t stop me doing it for years. Meanwhile, my more sensible and sane sister (how’s that for alliteration, Jo?) would eat normally then stop. Or barely eat anything if the food wasn’t appetising. Always baffled me.
Then there are the amount of books or courses I buy (usually business) then don’t read or complete them and I beat myself up. Yeah, like that helps.
But back to style.
With clothing, it's when you keep them around just because you spent money on them. The irony is not only do you feel lousy when you look at them, having them take up space in your house and your head isn’t going to bring back the time, money, or energy you spent to acquire them.
Aha! I heard you. You just muttered you might wear it some day or need it.
It’s a big, big, world. Trust me, it's easier to find a replacement than you think.
Talk to someone who thinks you are amazing about why you bought it in the first place, and why you’re having trouble letting it go.
It goes deeper than you think.