13min chapter

How to Money cover image

Making Money Changes That Stick w/ Katy Milkman (Bestie) #855

How to Money

CHAPTER

The Power of Commitment Devices and Behavioral Biases in Achieving Goals

Learn how commitment devices like savings accounts with restrictions, financial penalties, and behavioral biases can help individuals achieve their goals. Discover insights from studies demonstrating how setting up constraints can significantly increase savings and success rates, highlighting the importance of planning, automation, and leveraging psychological factors to make lasting changes in financial decision-making.

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