Cut Your Losses [If PUSH Comes To SHOVE]

Cut Your Losses [If PUSH Comes To SHOVE]

A gambler might call it 'CHASING YOUR LOSSES' while it is more commonly heard amongst British "DON'T THROW GOOD MONEY AFTER BAD".  Either way, and in whatever endeavor you are engaged in life, do Cut Your Losses, If PUSH Comes To SHOVE because of the very jarring implications if you miss that 'LAST CHANCE'.  Even that gambler [@ The Strip in Las Vegas] will get questioned, WHY KEEP PLAYING AFTER LOSING [a lot of money]?  Even economists call it the SUNK COST FALLACY, that phenomenon which drives us to make BAD decisions💎💎💎

Look back that weekend when you went to the shop to buy your necessary provisions until you realized that that shop actually closes on Sundays and that there are no other shops open that day.  So, will you still finish up that walk?  Unless you were that desperate to stretch your legs, this seems to be a stupid way of thinking.  Yet, bizzarely, this illogical cognitive pattern seems widespread in decision-making, often in 'high stakes'  What gets lost in all these is that when needed, you got to Cut Your Losses, If PUSH Comes To SHOVE⏳⏳⏳

In other words, most of us are loath to cut our losses.  We are much more likely to continue to senselessly plough TIME or MONEY into a project that ISN'T working out in the hope that it will get better [really?] than take a hit and walk away.  What drives this is OPTIMISM [which sometimes becomes MISPLACED OPTIMISM, that against the odds, the situation will improve], again this boils down to our AVERSION to FAILURE✅✅✅

Let's swing to our relationships with partner/spouse.  If such a relationship has turned upside down year-on-year and things are way beyond repair or recovery, then Cut Your Losses, If PUSH Comes To SHOVE.  And how abut friendships that used to be most robust to last a lifetime but with the protagonists now turned as 'sworn enemies', DON'T you need to Cut Your Losses If PUSH Comes To SHOVE?  Or at the workplace wherein one team member has directly caused SLA's to be breached [over and over again] impacting client.  Will you continue to slap that employee's wrist?  What if you lose your business when your client walks away❓❓❓

So what's our FIX?  How can we avoid these pitfalls?  A 'common sense' approach is this way.  When weighing up whether to persist with a course of action, let's ask ourselves: "WHAT WOULD I GAIN OR LOSE IF I STUCK WITH THIS OPTION AND WHAT WOULD I GAIN OR LOSE IF I SWITCHED?  And this brings us full circle back to that common dilemma of that gambler @ The Strip [in Las Vegas] because any poker player knows when to fold up.  Just Cut Your Losses, If PUSH Comes To SHOVE❗❗❗