roval
Member
I have been reading a book on behavioral economics trying to glean insight into my behavior which might help with financial decision making when I came across the concept of sunk costs. " a cost that is already incurred and cannot be recovered" and how it affects our decisions regarding those costs.(example - sitting through an awful movie or book as you had already paid for it or finishing a bad meal you would not have eaten otherwise as you've already paid for it when finishing the book or movie or eating the meal wouldn't bring back the previously incurred costs). this also explains why a lot investors hold on to their losing investments too long.
During the last panic post Sandy Hook I started shooting much less even if I had the ammo as it would lead to a real prospective cost(future cost) of having to replace the ammo that I would be shooting. Sometimes though it was too extreme especially with non reloadable rounds. I still had several thousand rounds of 22lr but cut back on the shooting. (Did I honestly think 22 lr would never come back to reasonable prices.) If I used up the rounds I had then I could quit shooting at that point which would just be identical to my then -current situation of not shooting(not shooting my bullets would not have refunded my previous costs)
I had a gun a ruger single nine 22 magnum that i decided to quit shooting due to the price of the ammo's cost to replace it. i did continue shooting 9 mm and 45 acp which i can reload. Due to the price of the ammo I traded in the single nine though my wife did enjoy shooting that gun. ( i still have a single ten and I doubt she'd notice a difference. )
last week I was reorganizing my 22 lr to start using up the older boxes first when I came across 800 rounds of CCI 22 magum which I currently don't have a gun for. at the very least I should have kept shooting that single nine till the ammo ran out.
Moral of the story: shoot what you have and don't squirrel it away. it doesn't bring back the money you've already spent on it and you can quit shooting it when you've run out which would just be the same as having the bullets and not shooting them.
During the last panic post Sandy Hook I started shooting much less even if I had the ammo as it would lead to a real prospective cost(future cost) of having to replace the ammo that I would be shooting. Sometimes though it was too extreme especially with non reloadable rounds. I still had several thousand rounds of 22lr but cut back on the shooting. (Did I honestly think 22 lr would never come back to reasonable prices.) If I used up the rounds I had then I could quit shooting at that point which would just be identical to my then -current situation of not shooting(not shooting my bullets would not have refunded my previous costs)
I had a gun a ruger single nine 22 magnum that i decided to quit shooting due to the price of the ammo's cost to replace it. i did continue shooting 9 mm and 45 acp which i can reload. Due to the price of the ammo I traded in the single nine though my wife did enjoy shooting that gun. ( i still have a single ten and I doubt she'd notice a difference. )
last week I was reorganizing my 22 lr to start using up the older boxes first when I came across 800 rounds of CCI 22 magum which I currently don't have a gun for. at the very least I should have kept shooting that single nine till the ammo ran out.
Moral of the story: shoot what you have and don't squirrel it away. it doesn't bring back the money you've already spent on it and you can quit shooting it when you've run out which would just be the same as having the bullets and not shooting them.