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2765: Hyperbolic Discounting: Why You Make Terrible Life Choices by Lakshmi Mani

Optimal Living Daily - Personal Development and Self-Improvement

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The Effect of Hyperbolic Discounting on Decision Making

Research shows people who commit to saving portions of their future paychecks to their retirement end up saving more money than others. Break down big goals into smaller tasks so the reward is no longer a far off possibility, but something that is more immediate and achievable. Other pre-commitment techniques may include planning out your day with a schedule maker or getting someone else to hold you accountable.

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