809c02b1-92c9-4e37-977b-4718e0437fd1 by Martin

Author:Martin
Language: eng
Format: epub

Set Stakes

Studies show that commitment contracts are effective as a tool for helping people save moneyxxxii. You can set stakes for virtually every other goal and achieve similar results.

The more is at stake if you give up, the less tempted you’ll be to throw in the towel. If you want to ensure success, set the stakes before you start working on your goal.

For instance, if you want to start waking up earlier, give your early-rising roommate a check for $50 and let her cash it if you don’t wake up at a specified hour.

If you want to lose weight, penalize yourself $50 for every cupcake you eat when you’re dieting. It won’t take long to give up on your favorite unhealthy foods if they’re going to cost you 50 times more than usual.

Negative motivation can work wonders when positive motivation isn’t enough to keep you going.

Setting stakes is also a perfect way to assess how badly you want to achieve your goal. If you’re reluctant to set stakes, chances are you’re afraid you’ll give up. If that’s the case, then it’s extremely unlikely you’ll achieve your goal without proper negative motivation.

StickK.com is the biggest online community for people interested in setting stakes to reach their goals.

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