Planning Fallacy

The planning fallacy is a cognitive bias where people underestimate the time, costs, and risks of future actions while overestimating the benefits. This often leads to overly ambitious goals that can actually hinder progress due to unrealistic expectations.

In an episode with Jon Acuff, Jordan Harbinger discusses how the planning fallacy can manifest in setting overly ambitious goals, which ultimately stop forward momentum. This concept is linked to the notion of "the danger of might as well," where small deviations from a plan lead to larger ones, like having a single french fry and then deciding to eat an entire plate of chili cheese fries 1 .

Addressing the planning fallacy involves being aware of this bias and setting more realistic, achievable goals to maintain progress and avoid discouragement. Recognizing that mistakes are part of the process, rather than signs of failure, helps in mitigating the effects of this fallacy.

For further details, you might want to explore the full episode "632: Jon Acuff | Give Yourself the Gift of Done" on The Jordan Harbinger Show.