There's another trick, a technique for opping the stakes that puts something you care about on the line to keep your motivation strong. The technical term economists used for this strategy is a commitment device. There's actually a couple of different web sites you can use where you can put money down that you'll forfeit. And you can even send it to a charity you hate if you fail to achieve some stated goal.
John needs to shed 15-20 pounds. At age 72, on the cusp of retirement, he wants to reduce his blood pressure medication and have more energy to travel. John knows how to lose weight—at an earlier point in his life he lost more than 50 pounds! But now he’s gained much of it back, and with his wife baking him more sweets during the pandemic, he can’t motivate himself to keep the weight off. In this episode of How To!, we bring on Katy Milkman, a behavioral economist at the University of Pennsylvania to help John try some new mental tricks to achieve his goals. Start by reengineering your environment, Katy says, then create a concrete plan with loved ones who can hold you accountable. John can use a turning point, like his impending retirement, to kickstart a new weight-loss regimen that sticks.
If you liked this episode, check out “How To Lose 155 Pounds Happily.”
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