Dealing with the Sunk Cost Effect
The sunk cost effect, is the feeling that, if you have spent a considerable investment of money into something, you are obliged to keep it.
Dealing with the Sunk Cost Effect – Don’t Feel Guilty When You’re Getting Rid of Your Things
by Kristin Herman
Minimalism has taken the world by storm over the last few years. With the rises of influencers like Marie Kondo, the chances are you may have thought more and more about getting rid of your useless ‘stuff.’ Let us face it, we all have tons of ‘stuff’ lying around everything that has built up over our lifetimes, and there comes the point where you’ll want to get rid of it.
While throwing out stuff you do not need, or at least highlighting the things you don’t need, is pretty easy, actually getting rid of it is another thing altogether. When I went through my stuff and had to clear out, I felt so guilty for getting rid of many things, but I found a way to overcome these feelings.
Why Do You Feel Guilty?
Let us say you go through your cupboards and have a proper clear-out. You stack up all the stuff you want to get rid of and put the stuff back you wish to keep. Simple, right? When you start looking at the stuff you are getting rid of, what do you see?
Things that you brought and really loved years ago, but not so much anymore? Gifts and presents from other people and loved ones? Memories and keepsake items from past relationships or friendships? Yes, of course, you are going to feel guilty throwing this stuff away.
Change is unsettling for all human beings.
The average human being hates change. It is just how the mind works. The mind believes that the more comfortable and familiar things are, the better off we are. While our survival tool brain thinks this, the real human’s we know this is not always the best. You need to clear yourself of the old to make way for the new. This is the way of nature.
So how do you get rid of this feeling of guilt?
Remember Why You Started the clearing.
Perhaps the first and most important thing to remember. There’s a reason you’re tossing out’ your old things. Maybe you have started a new relationship, and you have got a ton of old clothes and bits and pieces from your ex. You did not necessarily end on bad terms, but you know you want to leave that relationship in the past now.
“Having this message in your head while you’re clearing out is essential. Keep that original message of why you started in mind. Maybe you have been unhappy in your life. You’re having a clear-out to have a fresh start, and to begin a new chapter in your life,” shares Marie Turner, a writer at State of writing and Dissertation writing.
Write this message down on a Post-It note if you have to so you can remember everything you’ve been working so hard to achieve. Recognizing this should help relieve some of the guilt.
Put Them to a Better Place
It’s important to remember that when I say you’re ‘tossing out’ or ‘getting rid’ of your things, which doesn’t mean you’re just tossing a lot of things in the bin. Instead, you can give things to a better home. Maybe donate your belongings to a charity shop or sell them on eBay or Facebook Marketplace.
“In most cases, it is always better to give stuff away to a new home where someone else can use or value what you have, to freecycle it, rather than just putting it straight into a bin. This is a great way to reduce any guilt you may be feeling about getting rid of your things, to begin with,” explains Nick Harris, a lifestyle blogger at College paper and Paper Fellows.
You Cannot Change the Past, But You Can Learn from It
It is worth remembering that you probably cannot undo an expensive or luxurious purchase you made in the past, and regret, and now feel guilty about getting rid of. This is known as the sunk-cost effect, highlighting that you have spent a considerable investment of money into something, so now you are obliged to keep it.
Instead of holding onto something holding you back, use the opportunity to learn from your past, despite the time and money invested in those items. It means you will not need to repeat the mistake in the future.
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About the Author
Kristin Herman is a tech enthusiast and a project manager at UK Writings and Research paper writing service.
