Do You Know About These Two Powerful Accountability Hacks?

In this short episode Tom and Michael share two effective strategies to help keep you accountable to your goals.  --- Transcript   Michael: Hey everybody, welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined as usual by   Tom: Tom Schneider. And today we're gonna be talking about accountability and how to hold yourself accountable. So let's jump into it.   Michael: All right, Tom, New Years just around the corner, everybody loves making new year's resolutions. How do you hold yourself accountable?   Tom: Well, Michael, it's specific on what I'm trying to hold myself accountable. I like the idea of escrow challenges. And now I'm not talking about real estate escrow, I'm talking about taking some funds that I have, that I respect and want to keep and giving them to a trusted friend and telling them Hey, friend, if I don't do this, by then I want you to donate to this to something I don't want to be donated to like something I don't agree with at all. I read about this, there's a couple of apps that do this, but you could just do this with a friend.   Michael: Oh, that’s so good.   Tom: Let's say like, I really support killer whales, or like whales, you know, and then they would have to donate it to like a whale hunting company. That doen’t doesn't work. And I might rework this a little bit I might workshop this a little.   Michael: I just love like, you would go on to like whale killer like whale hunting company dot com and let's see, like, what's, what's their what's their nonprofit numbers, counted on my taxes.   Tom: Lowering the whale population. It’s big plankton that runs that company.   Michael: It’s Plankton from SpongeBob. It's No, but I totally know what you mean. Like, if you Yeah, if you really like dark chocolate, and then you would donate to a milk chocolate company.   Tom: That's right. That's right.   Michael: That that's a that's a really, that's a really good incentive. I see like it almost as doubly incentivizing yourself, because there's that loss aversion where you're losing money. And then there's also that I'm donating to now actively a cause that I don't believe in or to a company that I disagree with. So I think that's double ending it. That's a really good tactic.   Tom: I guess an easier way I could have just gave an example is not the whale hunting company. Maybe like there's like something political you don't agree with, like you have money that's donating to that cause like, right, I don't want you know, you want to be able to protect that. So that's going to give you some ripe incentive to not do that. So anyways, that's my…   Michael: I love that. Is there anything in particular that you're working on holding yourself accountable to right now?   Tom: I think like a lot of people like, you know, trying to get fit being quarantine pudgy bodies, like, you know…   Michael: The quarantine 15.   Tom: Exactly, yeah, so I have a good friend from high school who sees he's holding some money from me right now. And I need to go get rid of that quarantine 15.   Michael: Right on. I love that.   Tom: Yeah, What about you Michael?   Michael: I am a big fan of the accountabilibuddy. And so I developed an accountability buddy partner. And so we have a weekly standing meeting. And if one of us doesn't show up, we'll do 110 bucks. And so we text each other what we're gonna do for that week, and then when we circle back the following week, we see if we got it done, and there's really no consequence for not getting it done, but maybe there should be, but I really like this, this escrowing idea, I think it's not me saying you have to adopt, yeah, my own life, because that's really good.   Tom: I like your understanding of it. And that, you know, yeah, there's the version, you know, aspect of it, plus the good of you actually doing it, it's like you're hitting on all cylinders of motivation. I think another thing that's similar to both of these is putting it