Particularly in the health domain, humans thrive to reach an equilibrium between maximizing pleasure and minimizing harm. We propose that a cognitive strategy people employ to reach this equilibrium is the activation of Compensatory Health Beliefs (CHBs). CHBs are beliefs that the negative effects of an unhealthy behaviour can be compensated for, or "neutralized," by engaging in another, healthy behaviour. "I can eat this piece of cake now because I will exercise this evening" is an example of such beliefs. Our theoretical framework aims at explaining why people create CHBs and how they employ CHBs to regulate their health behaviours. The model extends current health behaviour models by explicitly integrating the motivational conflict that emerges from the interplay between affective states (i.e., cravings or desires) and motivation (i.e., health goals). As predicted by the model, previous research has shown that holding CHBs hinder an individual's success at positive health behaviour change, and may explain why many people fail to adhere to behaviour change programs such as dieting or exercising. Moreover, future research using the model and implications for possible interventions are discussed.