Present Bias - Deepstash

Present Bias

We tend to choose a smaller, immediate reward over a larger reward in the future. For example, playing video games is more enjoyable than writing or coding or designing.

What you can do about it:

  • Help your future self. Automate your savings; lock yourself out of your social media apps and websites at certain times of the day.
  • Find ways to make the "right" thing more pleasant. Do exercise you actually enjoy; find healthy recipes that are also delicious.
  • Reframe how you think. Enjoy the process rather than only focusing on the rewards. Instead of running to lose weight, focus on the satisfaction you get after running a mile.
  • Imagine your future self to help motivate you to choose longer-term payoffs.

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ethho

I wish I knew about the 80/20 rule much earlier.

The idea is part of this collection:

How To Become a Better Decision-Maker

Learn more about timemanagement with this collection

Understanding the importance of decision-making

Identifying biases that affect decision-making

Analyzing the potential outcomes of a decision

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