 |
In general, the higher your [IQ] score, the more education you’ll get, the more money you’re likely to make – believe it or not – the longer you’ll live.
|
79 |
 |
…the sunk cost effect… [is] a systematic cognitive error in which people take into account money, time, effort, or any other resources they have previously sunk into an endeavor when making decisions about whether to continue and spend more.
|
89 |
 |
Because we put time or effort or money into anything we have started, the sunk cost fallacy affects all of our decisions about whether to stop.
|
95 |
 |
When we embark on an endeavor, we also accumulate debris – the time, money, and effort we have spent. As we accumulate costs, the mass grows, escalating our commitment and making it more an more difficult to quit.
|
96 |
 |
There is no longer honor in spending every last bit of investor money pursuing an endeavor that’s failing. Returning capital to investors is the responsible choice under those circumstances and demonstrates the ability to make the hard decision when it’s the right thing to do.
|
184 |
 |
…if you have a business that’s gotten a loan and you’re now in financial trouble, you should go back to the same person who originally lent you the money. You’re much more likely to get it.
|
193 |
 |
…expected value is not just about money. It can be measured in health, well-being, happiness, time, self-fulfillment, satisfaction in relationships, or anything else that affects you.
|
39 |
 |
Whether it’s money, grades, promotions, popularity, attention, or just plain material things we want, scientists agree: seeking out external rewards is a sure path to sabotaging our own happiness.
|
45 |
 |
When most of your employees believe their organization’s primary purpose is to make money, the organization is destined for mediocrity.
|
087 |
 |
In most relationships, the first transaction is not profitable; all the money is in the lifetime relationship.
|
185 |
