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Identifying and eliminating unnecessary expenses
How to negotiate better deals
Understanding the importance of saving
What Is A Pact?
A pact is a precommitment to an outcome that acts as a firewall against distraction. You can think of it as a sort of “habit bet .” It helps you stay on track by setting huge consequences if you don't.
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How Does It Work?
This technique nearly guarantees you’ll follow through on any commitment you choose to make. As Nir Eyal wrote about in his book, he made a “burn or burn ” pact to finally get himself to start exercising regularly. His precommitment: He w...
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Or Else?
Define a consequence.
The most important part of a pact is the consequence of inaction. A precommitment acts as a firewall against distraction by imposing a cost to going off track. It’s the fear of not doing what you say, which provides the extra
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Why pacts work
A pact, like a protest slogan, is urgent, specific, and has a serious and unavoidable consequence.
Follow the following format of a good protest slogan to create an effective pact. 👇
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1. What do you want?
Name a specific action.
The best pacts are based on concrete behavior, not aspirations. Don’t set a vague goal like “live healthfully,” “save money,” or “spend more time with my family.” Name a very specific behavior you expect yourself to do.
For example, "I will write 3 pa...
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When do you want it?
Give yourself a specific time frame.
Deciding in advance when you will do what you say you will is called setting an implementation intention , and studies have found that it’s a critical step in accomplishing your goals. To ...
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Or Else?
Define a consequence.
The most important part of a pact is the consequence of inaction. A precommitment acts as a firewall against distraction by imposing a cost to going off track. It’s the fear of not doing what you say, which provides the extra
Your phone should provide as little distraction as possible
Your phone should provide as little distraction as possible. A few systems to help you stop a phone addiction:
- Don't look at your screen immediately after waking up. Use an analog alarm and keep your phone on the other side of the room.
How to Build a New Habit
- Start with an incredibly small habit, one that is easy enough that you don't need motivation to do it
- Increase your habit in very small ways - start small and gradually improve
- As you build up, break habits into chunks
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