Very interesting idea. If you had to pay, who did you pay? My thought is the money would go to charity, but since that is (usually) a good thing then I don't know if paying money for failing is a good enough incentive.
I hired a contractor and I paid him when I failed. You should be hell bent on not paying a dime. Otherwise you are doing it wrong. If it goes for charity then your mind will sniff out an escape route. Instead give it to causes you don't believe in. The goal is to be afraid of failing. You should be kicking yourself and feel the pinch when your hard earned money is going out of pocket. Otherwise you are doing it wrong.
Here's the deal. Even when you fail you still will win in the end and that the beauty of this approach.
I lost 30 lbs over the course of 4 to 6 months. I lost around $200 - $300 and it definitely stung. But it was worth it for now I have a strong and fit body.
Here's the deal. Even when you fail you still will win in the end and that the beauty of this approach.
I lost 30 lbs over the course of 4 to 6 months. I lost around $200 - $300 and it definitely stung. But it was worth it for now I have a strong and fit body.