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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 life chapter breaks, motivation, and fresh starts, featuring insights from Nobel laureate Richard Thaler.

The conversation highlights how people perceive their lives in chapters, particularly during significant transitions such as New Year's, birthdays, and job changes. These moments create a sense of a new beginning, motivating individuals to pursue their goals.

Richard Thaler's theory of mental accounting is referenced, explaining how people compartmentalize time and resources, which influences their motivation and self-perception.

The episode emphasizes the importance of recognizing these chapter breaks to harness motivation effectively and encourages listeners to take advantage of fresh starts.

TLDR

Life chapter breaks motivate goal pursuit, especially during New Year's and significant transitions.

Episode

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

Episode Highlights

  • The Psychology of Chapter Breaks
    We perceive our lives in chapters, motivating us to embrace new beginnings.
    “We feel disconnected from our past self.”
    @ 00m 17s
    January 23, 2026
  • Fresh Starts Throughout the Year
    Chapter breaks occur at predictable moments, like New Year's and birthdays.
    “These come up a lot and the psychology behind them is around this thing we do.”
    @ 00m 44s
    January 23, 2026

Episode Quotes

  • That was the old me. This is the new me.
    How to use a fresh start to get your goals in motion according to Wharton Professor Katy Milkman.
  • New Year's is the biggest of the dates that signals a fresh start.
    How to use a fresh start to get your goals in motion according to Wharton Professor Katy Milkman.

Key Moments

  • Chapter Breaks00:12
  • New Beginnings00:36
  • Mental Accounting00:46