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How to use a fresh start to get your goals in motion according to Wharton Professor Katy Milkman.

January 23, 2026 / 01:13

This episode discusses the concept of chapter breaks in life, motivation, and fresh starts. Key topics include the psychological effects of New Year's and other significant life changes.

The conversation highlights how people perceive their lives as narratives divided into chapters. When entering a new phase, individuals often feel motivated to pursue goals, viewing themselves as a new version.

Research indicates that these chapter breaks can occur at predictable times, such as New Year's, Mondays, the start of a new month, and birthdays. The discussion references Nobel laureate Richard Thaler's idea of mental accounting, explaining how people compartmentalize time and resources.

Listeners learn about the importance of recognizing these moments to harness motivation for personal growth and change.

TL;DR

Chapter breaks in life boost motivation for new beginnings.

Episode

1:13
00:00:00
What we found in our research is that
00:00:02
when there is what we perceive as a
00:00:04
chapter break in our life story, we
00:00:06
really actually see our lives as if
00:00:08
we're characters in a novel with these
00:00:10
chapters. And whenever there is a
00:00:12
chapter break and we enter a new era
00:00:14
that feels like a new beginning to us,
00:00:16
we're more motivated to pursue our
00:00:17
goals. We feel disconnected from our
00:00:19
past self. We can say, "That was the old
00:00:21
me. This is the new me. The new me will
00:00:22
be different." And those chapter breaks
00:00:24
arise at predictable moments on the
00:00:26
calendar as well as at times when we
00:00:28
make uh meaningful change like a move to
00:00:31
a new job or becoming a parent. New
00:00:33
Year's is the biggest of the dates that
00:00:35
signals a fresh start and a new
00:00:36
beginning but it actually happens every
00:00:38
Monday at the start of a new month. It
00:00:40
happens when we celebrate birthdays. So
00:00:42
these come up a lot and the psychology
00:00:44
behind them is around this thing we do.
00:00:46
It's called mental accounting in the
00:00:48
words of Nobel laurate Richard Thaylor
00:00:50
where we don't perceive time and other
00:00:53
resources as fungeable across boundaries
00:00:56
but instead we bracket them and so fresh
00:00:58
starts arise a lot but New Year's is a
00:01:01
really big one and we should seize

Episode Highlights

  • Chapter Breaks in Life
    We perceive our lives as chapters, motivating us to embrace new beginnings.
    “Whenever there is a chapter break, we’re more motivated to pursue our goals.”
    @ 00m 12s
    January 23, 2026
  • Fresh Starts
    New Year's and other milestones signal fresh starts, impacting our psychology.
    “New Year's is the biggest of the dates that signals a fresh start.”
    @ 00m 33s
    January 23, 2026

Episode Quotes

  • This is the new me. The new me will be different.
    How to use a fresh start to get your goals in motion according to Wharton Professor Katy Milkman.

Key Moments

  • Life Chapters00:06
  • New Beginnings00:12
  • Mental Accounting00:46

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