📱

Get Our Mobile App

Take your business learning on the go!

Download on the App StoreGet it on Google Play

When Ripped Off Tickets Save You $400

Financian0:59

Transcription

My wife and I had booked non-refundable tickets to go to Paris for the weekend. And they're about 80 quid each or something. And then on the Friday we were due to go, both of us woke up with just appalling colds and flu. But because we bought the tickets, we were determined to go. And I would have gone, and I would have basically spent another 400 quid on hotels and restaurants and art galleries in order to feel in hotels, restaurants and art galleries.

There's nothing worse than being ill away from home, by the way, is there really? It's really is horrible. And I just read this article and said, "Hold on, we're suffering from sunk cost bias here. If we hadn't bought these tickets, [music] we wouldn't dream of going to Paris this weekend."

Cuz we feel The fact that we have bought the tickets is something we can do nothing about. So, it shouldn't affect our decision. And I took the tickets, ripped them up and chucked them in the bin. I then had to retrieve them cuz you could get the tax back occasionally, apparently. But okay, but the point was I was about to spend the 80 pounds each. I had no control over that anymore. That was gone. And I was about to spend another 400 pounds in order to feel somewhere else.

What we did is we ripped the tickets up, spent the weekend wrapped in a duvet. We overdosed on Lemsip and watched crap on the television. I actually had quite a nice weekend and saved 400 quid.