From: The Wall Street Journal
The Powerful Motivation of Paying Upfront
Dear Dan,
I know that you’ve often written about money as a motivator. This semester, I would like to join a yoga class that requires a substantial one-time registration fee. Will paying this amount in advance motivate me to attend regularly to make up for the money I’ve spent? —Jeff
Yes, we’re much more likely to do things when we commit to them in advance and have sunk costs. One challenge with this approach is that, over time, you might forget that you have paid that large initial fee. I would recommend that you print the receipt from your one-time registration fee, laminate it and attach it to the door of your refrigerator. This would not only be a constant reminder to attend your yoga class but also might be useful encouragement to eat more healthily.
Read the whole story (subscription may be required): The Wall Street Journal
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