How to Change: The Science of Getting from Where You Are to Where You Want to Be

by Katy Milkman

Chapter Takeaways Present bias often causes us to procrastinate on tasks that serve our long-term goals. An effective solution to this problem is to anticipate temptation and create constraints (“commitment devices”) that disrupt this cycle. Whenever you do something that reduces your own freedoms in the service of a greater goal, you’re using a commitment device. An example is a “locked” savings account that prevents you from accessing your money until you’ve reached your savings goal. Cash commitment devices are a versatile form of commitment device. They allow you to create a financial incentive to meet your goal by letting you put money on the line that you’ll forfeit if you don’t succeed. Public pledges are a form of “soft” commitment that increase the psychological cost of failing to meet your goals. They are surprisingly effective, though not as effective as “hard” commitments, which involve more tangible penalties or restrictions. The costs we can impose on ourselves to help with goal achievement range from soft penalties (such as announcing goals or deadlines publicly) to hard penalties (such as having to hand over cash should we fail). There are also soft restrictions (such as eating from a smaller plate) and hard restrictions (such as putting our money in a locked savings account). The softer the penalty or restriction, the less likely it is to help with change, but the more palatable it is to adopt. Making smaller, more frequent commitments is more effective th...