I’ve been using financial commitments of this kind for several years, but I wasn’t aware of this app and i find it very useful and efficient.
I’d like to add a small additional idea. Beyond paying money every time you break a self-imposed rule, there is a similar strategy: paying extra money for activities you allow yourself only when you are willing to pay more for them.
For example, if I want to reduce how much alcohol I drink and limit it to occasions that genuinely matter to me, i first define what “genuinely matter” means. For instance: I want to drink alcohol only if I would be willing to pay at least €10 per unit of alcohol (i.e. it’s worth at least €10 to me). Then i set a rule that, for every unit of alcohol I drink, I have to pay that amount.
This doesn’t make me quit alcohol entirely, but it also prevents abuse. It leads me to drink alcohol exactly the amount I want: the amount for which it’s worth at least €10 per unit to me.
This shouldn’t be seen as a punishment, but rather as a simple additional cost of the activity, without any negative connotation.
Using this method, i’ve significantly reduced many unhealthy habits that i didn’t want to completely eliminate from my life. Now I only engage in them when i’m genuinely happy to do so, without ever feeling guilty about indulging once in a while.
Currently, the app doesn’t seem to have a feature suited for this kind of use, so what i’d recommend is giving the money to a friend or partner, or donating it to charity.
Great post, thank you.
I’ve been using financial commitments of this kind for several years, but I wasn’t aware of this app and i find it very useful and efficient.
I’d like to add a small additional idea. Beyond paying money every time you break a self-imposed rule, there is a similar strategy: paying extra money for activities you allow yourself only when you are willing to pay more for them.
For example, if I want to reduce how much alcohol I drink and limit it to occasions that genuinely matter to me, i first define what “genuinely matter” means. For instance: I want to drink alcohol only if I would be willing to pay at least €10 per unit of alcohol (i.e. it’s worth at least €10 to me). Then i set a rule that, for every unit of alcohol I drink, I have to pay that amount.
This doesn’t make me quit alcohol entirely, but it also prevents abuse. It leads me to drink alcohol exactly the amount I want: the amount for which it’s worth at least €10 per unit to me.
This shouldn’t be seen as a punishment, but rather as a simple additional cost of the activity, without any negative connotation.
Using this method, i’ve significantly reduced many unhealthy habits that i didn’t want to completely eliminate from my life. Now I only engage in them when i’m genuinely happy to do so, without ever feeling guilty about indulging once in a while.
Currently, the app doesn’t seem to have a feature suited for this kind of use, so what i’d recommend is giving the money to a friend or partner, or donating it to charity.