The gambler's fallacy is when someone keeps betting when they should have quit a long time ago because they wonder how many bad hands in row can they possibly get. There is a story of a man who spent over $2000 trying to win an xbox at a fair when an xbox can be bought for about $400 dollars. It doesn't become about the money anymore, it's about winning the game and sometimes the game isn't worth it to win. Are you trying to get into the best school and spend way more on tuition than necessary because you have the education or do you value the status it will bring so you can brag to all your friends where you went. 

If you go down the path of status, you can spend a lot of money and time. You have to ask yourself if the prize is worth it. The choice is yours if you decide to fold and hold and keep playing the game. Just realize what you're giving up and what you're gaining by continuing to play the game. 

Journal Prompts

1. How can you ensure that staying in the game is worth it in various parts of your life?
2. How can you ensure you know when to leave the game when it’s not worth it?