1 00:00:03,480 --> 00:00:09,520 Speaker 1: Welcome to Before Breakfast, a production of iHeartRadio. Good Morning, 2 00:00:10,880 --> 00:00:16,560 Speaker 1: This is Laura. Welcome to the Before Breakfast podcast. Today's 3 00:00:16,600 --> 00:00:20,880 Speaker 1: tip is that you shouldn't throw good time after bad money. 4 00:00:21,960 --> 00:00:23,840 Speaker 1: If you paid for something that has turned out to 5 00:00:23,840 --> 00:00:26,600 Speaker 1: be disappointing, you may not be able to get your 6 00:00:26,600 --> 00:00:29,920 Speaker 1: money back, but you can still make a wise choice 7 00:00:29,960 --> 00:00:33,440 Speaker 1: about what to do with time that has yet to pass. 8 00:00:34,120 --> 00:00:40,280 Speaker 1: Devoting more time to something just compounds the error. So 9 00:00:40,440 --> 00:00:42,920 Speaker 1: we have probably all signed up for something that ended 10 00:00:43,000 --> 00:00:45,760 Speaker 1: up not being quite as great as we hoped, with 11 00:00:45,840 --> 00:00:49,400 Speaker 1: no option for a refund. Maybe you bought a pass 12 00:00:49,440 --> 00:00:52,920 Speaker 1: for three months of unlimited bar classes, but after one 13 00:00:52,960 --> 00:00:55,640 Speaker 1: week you discovered you missed simply going to the gym 14 00:00:55,680 --> 00:01:00,440 Speaker 1: and choosing a cardio machine whenever your schedule allowed. Sometimes 15 00:01:00,440 --> 00:01:02,880 Speaker 1: a remote class sounds great but turns out not to 16 00:01:02,920 --> 00:01:06,919 Speaker 1: offer much fun or learning. Or maybe you've spent tens 17 00:01:06,920 --> 00:01:09,840 Speaker 1: of thousands of dollars in countless hours working toward a 18 00:01:09,840 --> 00:01:14,000 Speaker 1: graduate degree, but you have come to the conclusion that 19 00:01:14,040 --> 00:01:17,200 Speaker 1: you really want to take your career in a different direction. 20 00:01:19,000 --> 00:01:22,399 Speaker 1: When we've spent our money on something, especially something expensive, 21 00:01:23,000 --> 00:01:26,360 Speaker 1: it's easy to feel obligated to stick with it, even 22 00:01:26,400 --> 00:01:28,600 Speaker 1: if it's not serving the purpose we hoped it would. 23 00:01:29,480 --> 00:01:32,160 Speaker 1: But what are you getting out of that. You have 24 00:01:32,280 --> 00:01:39,080 Speaker 1: already lost the money, why lose the time too. Sometimes 25 00:01:39,080 --> 00:01:44,000 Speaker 1: it is wise to just walk away. Sunk costs are sunk. 26 00:01:44,959 --> 00:01:47,680 Speaker 1: If you can't get a refund, the money is gone, 27 00:01:48,840 --> 00:01:52,160 Speaker 1: and even if you can get a refund, time can't 28 00:01:52,360 --> 00:01:55,960 Speaker 1: ever be recouped. So with that knowledge, you have to 29 00:01:55,960 --> 00:01:58,720 Speaker 1: make a decision about the resource that hasn't yet been 30 00:01:58,760 --> 00:02:03,840 Speaker 1: spent future time. You could go to bar classes several 31 00:02:03,840 --> 00:02:05,880 Speaker 1: times a week, but if you would rather go to 32 00:02:05,920 --> 00:02:10,520 Speaker 1: the gym and your membership is still active, nobody benefits 33 00:02:10,800 --> 00:02:13,720 Speaker 1: if you go to bar instead. So go to the 34 00:02:13,760 --> 00:02:17,560 Speaker 1: gym and get the workout you want. That remote class 35 00:02:17,600 --> 00:02:20,480 Speaker 1: on landscaping that sounded like so much fun but is 36 00:02:20,520 --> 00:02:25,280 Speaker 1: actually one it disaster after another. Don't keep going back, 37 00:02:26,840 --> 00:02:29,320 Speaker 1: even if you are just a few semesters away from 38 00:02:29,320 --> 00:02:31,680 Speaker 1: finishing a degree that you have invested a lot of 39 00:02:31,720 --> 00:02:34,560 Speaker 1: time and money in. If you have decided that the 40 00:02:34,639 --> 00:02:37,560 Speaker 1: degree isn't going to get you anywhere you want to be, 41 00:02:38,600 --> 00:02:43,840 Speaker 1: you can just stop do something else with your time instead. 42 00:02:45,400 --> 00:02:47,639 Speaker 1: Now I know that no one likes to be a quitter, 43 00:02:48,560 --> 00:02:51,400 Speaker 1: and sometimes it might be worth sticking things out for 44 00:02:51,440 --> 00:02:55,480 Speaker 1: at least a little while. Maybe you have determined after 45 00:02:55,800 --> 00:02:57,840 Speaker 1: three and a half years of medical school that you 46 00:02:57,919 --> 00:03:01,639 Speaker 1: don't want to be a practicing doctor, and that is fine, 47 00:03:02,320 --> 00:03:04,280 Speaker 1: But sticking it out for just a few more months 48 00:03:04,320 --> 00:03:06,600 Speaker 1: means you'll have a degree that can open up a 49 00:03:06,600 --> 00:03:11,760 Speaker 1: lot of job opportunities in healthcare even if you never practice. 50 00:03:11,960 --> 00:03:14,040 Speaker 1: But doing a residency if you don't want to practice 51 00:03:14,120 --> 00:03:17,840 Speaker 1: is a different matter entirely. That is a lot of time. 52 00:03:19,040 --> 00:03:22,400 Speaker 1: In any case, money you have invested in experiences that 53 00:03:22,440 --> 00:03:25,600 Speaker 1: turn out to be unappealing may be gone. You cannot 54 00:03:25,600 --> 00:03:28,640 Speaker 1: get it back, but you can decide what to do 55 00:03:28,680 --> 00:03:32,799 Speaker 1: from where you are now. So don't throw good time 56 00:03:33,280 --> 00:03:38,000 Speaker 1: after bad money, because time may be our most valuable 57 00:03:38,040 --> 00:03:44,760 Speaker 1: resource of all. In the meantime, this is Laura. Thanks 58 00:03:44,800 --> 00:03:49,400 Speaker 1: for listening, and here's to making the most of our time. 59 00:03:55,880 --> 00:04:00,000 Speaker 1: Thanks for listening to Before Breakfast. If you've got questions, ideas, 60 00:04:00,480 --> 00:04:03,880 Speaker 1: or feedback, you can reach me at Laura at Laura 61 00:04:04,000 --> 00:04:13,280 Speaker 1: vandercam dot com. Before Breakfast is a production of iHeartMedia. 62 00:04:13,920 --> 00:04:17,920 Speaker 1: For more podcasts from iHeartMedia, please visit the iHeartRadio app, 63 00:04:18,200 --> 00:04:21,440 Speaker 1: Apple podcasts, or wherever you listen to your favorite shows.