2922: Would You Take A Bet That Would Change Your Life? Probably Not. Here’s Why by Nir Eyal

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2922: Nir Eyal explores the power of betting on yourself to change habits, highlighting a study that shows how putting money at risk can significantly boost success rates, particularly in quitting smoking. Despite its effectiveness, this approach remains underused due to fear of failure and the discomfort of risking money. Eyal delves into why people resist such bets and how understanding that resistance can lead to better self-discipline. Read along with the original article(s) here: https://www.nirandfar.com/habits-bet/ Quotes to ponder: "People who risked $150 of their own money to win a $650 bonus prize were dramatically more likely to quit smoking than those who used traditional smoking cessation methods." "Only 13.7% of the participants assigned to the deposit program chose to enroll in it, whereas 90.0% of those assigned to the reward program chose to enroll." "Behavior change is hard and people will inevitably fail." Episode references: New England Journal of Medicine study on smoking cessation: https://www.nejm.org Nudge: https://www.amazon.com/Nudge-Improving-Decisions-Health-Happiness/dp/014311526X Learn more about your ad choices. Visit megaphone.fm/adchoices

Om Podcasten

Optimal Finance Daily, hosted by Diania Merriam, the innovative mind behind the personal finance conference EconoMe, takes you on an enlightening journey through the world of personal finance. Each episode brings to life the most compelling and practical advice from leading financial bloggers and experts. Diania’s engaging narration and insightful commentary transform complex financial concepts into relatable, actionable insights. Whether it’s budgeting, investing, debt management, or money mindfulness, she covers it all, making financial wisdom accessible to everyone. Gain not just knowledge, but also the motivation to apply it in your daily life. It's not just a source of personal finance tips; it’s a daily companion that guides you towards financial independence and savvy money management, all delivered with Diania's trademark enthusiasm and expertise. By focusing on early retirement, financial independence, and saving money, each episode provides you with the tools needed to achieve your financial goals. This podcast is designed for those passionate about personal finance, early retirement, financial independence, and saving money. It’s your go-to source for practical advice on managing your finances, saving money, and working towards early retirement. Each episode offers actionable steps to foster financial independence and secure your financial future. Listen now, and become an OLD friend--your optimal life awaits...