Every year we attempt to make new year resolutions in an effort to ensure the next year is better than the last. Some of us try to exercise more, some try to quit smoking, while others just try and have more time to relax. Do you stay true to your resolution? I cannot say I always do. There is just something about having a little skin in the game that makes commitments stick. For example, I found that I would go to the gym more frequently when I
was paying for the gym every month as opposed to when I had a free gym
membership. That is exactly what StickK is all about. StickK is a site developed by Yale University economists
who tested the effectiveness of commitment contracts through research. StickK uses currency to motivate you to reach your goals by making you literally pay for it you don't.
With the mission of promoting healthier and happier living by helping people achieve their personal goals stickK enables you to create a contract with yourself. These contracts have a monetary value and if you do not stick with it you end up actually losing your money. For example, if I wanted to make sure I exercised 3 times a week for 20 weeks and I wanted to put $10 at stake per week. I would pay the $200 up front. Each week that I fail to exercise 3 times, stickK deducts $10 from my account balance. At the end of the 20 week duration, I get back whatever amount is left in your account. StickK sends the money I lost to a charity, anti-charity or friend or foe. Oh and you can also decide to put no money at stake but it might not be nearly as effective.
I think stickK is an interesting concept and might have to give it a try. It could motivate me to get more exercise, play more my guitar or do whatever it is that I think needs a little self-inflicted motivation.
