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How to overcome fear and anxiety

  • Broadcast in Education
BMF Money Talk Radio

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“Death is not the greatest loss in life. The greatest loss is what dies inside us while we live.” ~Norman Cousins

 

Loss Aversion in Everyday Life

We all make irrational decisions everyday simply to avoid losing.

We buy things we don’t need (or groupons we won’t use) because a sale’s ending soon. We grab an item of clothing because there’s only one left and someone else might take it—even if we aren’t really sure we want it. We keep gym memberships we aren’t actively using if we know we won’t be able to get that same rate again.

And then there are the bigger things.

We turn down opportunities that could be rewarding to avoid the risk of losing something else that feels good enough. We use our time in ways that feel unfulfilling because we fear losing time on a decision that might be wrong. And we fail to invest in ourselves, even though we’re aching to expand, because it can feel painful to part with our money,

 

 

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