WEBVTT - Don't throw good time after bad money

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<v Speaker 1>Welcome to Before Breakfast, a production of iHeartRadio. Good Morning,

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<v Speaker 1>This is Laura. Welcome to the Before Breakfast podcast. Today's

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<v Speaker 1>tip is that you shouldn't throw good time after bad money.

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<v Speaker 1>If you paid for something that has turned out to

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<v Speaker 1>be disappointing, you may not be able to get your

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<v Speaker 1>money back, but you can still make a wise choice

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<v Speaker 1>about what to do with time that has yet to pass.

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<v Speaker 1>Devoting more time to something just compounds the error. So

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<v Speaker 1>we have probably all signed up for something that ended

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<v Speaker 1>up not being quite as great as we hoped, with

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<v Speaker 1>no option for a refund. Maybe you bought a pass

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<v Speaker 1>for three months of unlimited bar classes, but after one

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<v Speaker 1>week you discovered you missed simply going to the gym

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<v Speaker 1>and choosing a cardio machine whenever your schedule allowed. Sometimes

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<v Speaker 1>a remote class sounds great but turns out not to

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<v Speaker 1>offer much fun or learning. Or maybe you've spent tens

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<v Speaker 1>of thousands of dollars in countless hours working toward a

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<v Speaker 1>graduate degree, but you have come to the conclusion that

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<v Speaker 1>you really want to take your career in a different direction.

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<v Speaker 1>When we've spent our money on something, especially something expensive,

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<v Speaker 1>it's easy to feel obligated to stick with it, even

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<v Speaker 1>if it's not serving the purpose we hoped it would.

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<v Speaker 1>But what are you getting out of that. You have

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<v Speaker 1>already lost the money, why lose the time too. Sometimes

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<v Speaker 1>it is wise to just walk away. Sunk costs are sunk.

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<v Speaker 1>If you can't get a refund, the money is gone,

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<v Speaker 1>and even if you can get a refund, time can't

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<v Speaker 1>ever be recouped. So with that knowledge, you have to

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<v Speaker 1>make a decision about the resource that hasn't yet been

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<v Speaker 1>spent future time. You could go to bar classes several

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<v Speaker 1>times a week, but if you would rather go to

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<v Speaker 1>the gym and your membership is still active, nobody benefits

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<v Speaker 1>if you go to bar instead. So go to the

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<v Speaker 1>gym and get the workout you want. That remote class

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<v Speaker 1>on landscaping that sounded like so much fun but is

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<v Speaker 1>actually one it disaster after another. Don't keep going back,

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<v Speaker 1>even if you are just a few semesters away from

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<v Speaker 1>finishing a degree that you have invested a lot of

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<v Speaker 1>time and money in. If you have decided that the

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<v Speaker 1>degree isn't going to get you anywhere you want to be,

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<v Speaker 1>you can just stop do something else with your time instead.

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<v Speaker 1>Now I know that no one likes to be a quitter,

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<v Speaker 1>and sometimes it might be worth sticking things out for

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<v Speaker 1>at least a little while. Maybe you have determined after

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<v Speaker 1>three and a half years of medical school that you

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<v Speaker 1>don't want to be a practicing doctor, and that is fine,

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<v Speaker 1>But sticking it out for just a few more months

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<v Speaker 1>means you'll have a degree that can open up a

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<v Speaker 1>lot of job opportunities in healthcare even if you never practice.

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<v Speaker 1>But doing a residency if you don't want to practice

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<v Speaker 1>is a different matter entirely. That is a lot of time.

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<v Speaker 1>In any case, money you have invested in experiences that

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<v Speaker 1>turn out to be unappealing may be gone. You cannot

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<v Speaker 1>get it back, but you can decide what to do

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<v Speaker 1>from where you are now. So don't throw good time

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<v Speaker 1>after bad money, because time may be our most valuable

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<v Speaker 1>resource of all. In the meantime, this is Laura. Thanks

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<v Speaker 1>for listening, and here's to making the most of our time.

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<v Speaker 1>Thanks for listening to Before Breakfast. If you've got questions, ideas,

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<v Speaker 1>or feedback, you can reach me at Laura at Laura

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<v Speaker 1>vandercam dot com. Before Breakfast is a production of iHeartMedia.

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<v Speaker 1>For more podcasts from iHeartMedia, please visit the iHeartRadio app,

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