About a year ago I decided to try using one of those apps where you tie your goals to some kind of financial penalty. The specific one I tried is Forfeit, which I liked the look of because it's relatively simple, you set single tasks which you have to verify you have completed with a photo.

I’m generally pretty sceptical of productivity systems, tools for thought, mindset shifts, life hacks and so on. But this one I have found to be really shockingly effective, it has been about the biggest positive change to my life that I can remember. I feel like the category of things which benefit from careful planning and execution over time has completely opened up to me, whereas previously things like this would be largely down to the luck of being in the right mood for long enough.

It's too soon to tell whether [...]

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Outline:

(01:22) Thoughts on what makes a good anti-akrasia approach

(01:45) 1. Behaviour change (“habit formation”) depends on punishment and reward, in addition to repetition

(04:23) 2. The approach should be counter-cyclical

(06:11) 3. Poor planning can be as big a problem as poor execution, and improving one improves the other

(07:45) Using Forfeit specifically

(10:19) What I have found it most useful for

(19:08) Tips and tricks

The original text contained 7 footnotes which were omitted from this narration.

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First published:
April 15th, 2024

Source:
https://www.lesswrong.com/posts/DRrAMiekmqwDjnzS5/my-experience-using-financial-commitments-to-overcome

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Narrated by TYPE III AUDIO.

“My experience using financial commitments to overcome akrasia” by William Howard

LessWrong (30+ Karma)

“My experience using financial commitments to overcome akrasia” by William Howard