FAQ - Commitment Contracts - Stakes

What are stakes?

Stakes are the financial and reputation based incentives that you put on the line in a Commitment Contract. Adding stakes are a great way to better your chances for success, as they hold you more accountable to your Commitment. In other words, adding stakes is simply raising the price of failure.

When creating your Commitment Contract, you can decide how much money (if any) you will put on the line.

What's the most I can put at stake?

How much you got? (Just kidding)

But seriously, choose the amount you feel will provide the greatest incentive to succeed. stickK has set a minimum of $5 per reporting period for any contract.

What is a Recipient of Stakes?

The Recipient of Stakes is an organisation that has been selected to receive your money if you are unable to keep your Commitment.
stickK will send your Recipient any forfeited stakes as soon as your Commitment Contract is complete.

I know myself, and no amount of money could possibly make me change my behavior or reach my goals.

Never say "never." Let´s imagine you wish to stop smoking and you are going to undertake a 10 week ‘stop smoking’ programme provided by the NHS. If you spend £40 a week on your smoking habit and stake this on your success, after a 10 week programme your stake will have risen to £400 and this you will lose if you start smoking again. Thus a single cigarette could cost you £400. Many smokers have found this a very powerful incentive.

We offer financial contracts to let you choose the cost at which failure is simply not an option. Bottom line, everyone has a price. What's yours?
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