In this paper I investigate sources of motivation. In particular, I address what sort of thing—what kind of entity—we are motivated by when we are motivated. I argue against two accounts of sources of motivation, in the sense I intend, in favour of a third. On my view, sources of motivation are not, as some think, to be identified with psychological states; nor are they, as others think, to be identified with facts. Instead, sources of motivation should be identified as the contents of psychological states, in particular, the contents of cognitive states.