Procrastination Explained in 3 Minutes

Procrastination is when we lack safeguards in the face of an impulse. And there are two main components that influence it. The first component is called Present Bias. Present Bias is when we are unable to grasp that our present (current) desires will change over time. It sounds obvious, but it happens to everyone. There is a disconnect between the current you, and the future you, whether it is ten minutes, ten hours, ten days, ten months and so forth. Present bias is why we will be motivated to borrow a book from the library, but then return it without ever finishing, or even starting the book. It’s why we want to practice learning another language in our spare time, but decide to do something else after we get home from work. Present Bias is why we all know that person who made the same New Year's resolution for the 6th time now, but this time they mean it. If at any point in your life you felt convinced that you were going to do something, but then did not feel like doing it when the time arrived, well, congratulations... you fell victim to present bias.

The second component of procrastination is something called Hyperbolic Discounting. This is just a fancy way of saying that when we are presented with two similar rewards in a situation, one now and one later, the average person would choose the immediate reward, over one the reward that will come in the future. Even if the reward in the future is slightly better. Evolutionarily speaking, it made sense for our ancestors to go for the sure bet or guaranteed reward now, such as food or sex whenever possible, because “later” is a dark murky place where anything could go wrong. Our ancestors didn’t have to think about dieting properly, because they weren’t guaranteed a meal on a daily basis. Our ancestors mated often to keep our species alive. They might not have even lived to see their grandchildren. If you’re following, this is the reason why we are hardwired to prefer instant gratification.

So taken together, procrastination is when we want to take an immediate pleasure - whether it is scrolling through social media, or loafing on the coach - over doing something that is difficult, but better for us in the long run. And we do this because we incorrectly assume that we will have the drive and energy for that more difficult task, later.

So how do you overcome procrastination? At its core, you must:

1. Find a strategy that isolates you with the task that you need to do. Something that makes your task difficult if not impossible to avoid.

A situation that forces you to be accountable is a great way to make sure you do the right thing for yourself. The reason why I advocate having an actual measure in place instead of relying on willpower and discipline, is because having a measure in place is statistically proven to be superior in achieving results. As I just explained with present bias, your desires change over time. You literally can’t trust your future self if you are trying to be as efficient as possible. That would be the basis of being unrealistic. When you leave it to your discipline and willpower, you effectively put yourself in a position that is more likely to fail.

For example, if you want to get serious about saving a certain percent of your income - let’s say 70% - don’t leave it to your willpower and discipline. Sure you may be able to resist the urge of spending at every opportunity, but you can ENSURE that you don’t spend more than 70% of your paycheque by immediately depositing 70% into a savings account, or any account that is difficult to access easily. This way you don’t have to go through the emotions of resisting temptations, or accidentally spend more than you were supposed to. By putting that 70% away NOW, you guarantee that your future self can’t spend more than 30%. The great thing is that you can automate this process using technology, so when you do it once, you don’t have to even think about it again until your plans change.

2. Break the task into smaller steps.

The reason why you need to break the strategy into small steps is because it will greatly reduce the fear and discomfort of taking on a difficult task. For example, the reason why we procrastinate on exercise is probably because we aren’t looking forward to the strain that the workout will bring, the time it will take to see improvement, the concentration required… and so on. The rewarding feeling doesn’t come immediately as say, playing a video game would. However, instead of looking at the whole picture and getting overwhelmed by everything that must be done, focusing on the smaller steps will make the task more manageable. Instead of thinking of everything you have to do during your routine, first focus on just getting into your gym clothes. Then worry about commuting to the location. Then focus on the FIRST exercise. One thing at a time, you feel me?

Thank you for reading,

Orville