Putting My Money Where My Mouth Is – Stickk.com

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February 19th, 2008

So I came across an interesting new startup on Techcrunch the other day – stickk.com.  The idea is to make a “contract” with yourself to help you reach your goals.  Basically, you are putting up real money which you will lose if you fail to meet your goal.  This obviously gives a big financial incentive to follow through and hopefully accomplish your goals.  You can designate the money to go to a charity, an anti-charity (for example, if you hate guns than you don’t want the money to end up going to the NRA), or to a friend.  Having the money go to a friend is like making a bet and having an objective 3rd party hold the money for you until you see how it turns out.

I think it is a great idea and have decided to try it out.  So last night, I made a contract with myself to lose some weight.  One of my goals for the year was to weigh 215 lbs and maintain that weight through the year.  So I am using Stickk.com to help motivate me to get started.  Wish me luck!