Author Topic: How do you feel about making money off of nonmustachians?  (Read 7509 times)

dbunny

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How do you feel about making money off of nonmustachians?
« on: December 18, 2014, 11:47:11 AM »
I've been thinking of side jobs to help pay down my student loans and a lot of my ideas involve making money off of other people, typically on things they don't need. For example, I want to do some small-scale manufacturing of (useful but not necessary) home goods. Usually I consider my target customer as your typical American over-spender who buys every cool little thing they see. Knowing now the ways of the Mustache, it makes me feel like I'm taking advantage of over-spending Americans who just don't get it yet.

Am I looking at this the wrong way or has anyone else had similar feelings?

babysnowbyrd

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Re: How do you feel about making money off of nonmustachians?
« Reply #1 on: December 18, 2014, 12:46:41 PM »
Not much to add, but I've often been in the same boat as you.

Even now, I've got a side business set up as a home-based travel agent. The biggest commissions are for cruises and all-inclusive packages. I just don't know if I have the guts to sell these kinds of things to people. I mean, for some people, they do have value if you don't have the time/knowledge/confidence to research your own vacation or just want to relax knowing someone else is taking care of everything for you, but man! Most of these packages are mini exploding volcanoes of wastefulness. But they bring in good money.

On the other hand, I can become an expert at budget vacations, but I don't want to do that either because those type of clients tend to change their minds a billion times, nickle-and-dime everything and then when you've got their whole vacation planned out go ahead and book it themselves resulting in getting hours of unpaid research at the expense of the agent. No thanks.

I do love travel, and I'd love to help people have meaningful experiences, but I'm debating whether or not to keep going with this.

shotgunwilly

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Re: How do you feel about making money off of nonmustachians?
« Reply #2 on: December 18, 2014, 12:52:25 PM »
I too sometimes feel what you are feeling.  Unfortunately, I believe a large majority of people do not share your concern and this world is eat or be eaten.  They would be quick to separate you from your dollars if they could.  I wouldn't worry about it.  It's their choice what to do with their money.

Exflyboy

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Re: How do you feel about making money off of nonmustachians?
« Reply #3 on: December 18, 2014, 12:54:48 PM »
Well I just made $800 by opening credit cards and bank accounts that I have no intention of using and will close/cancel the moment I can.

Is that "gaming the system?".. You bet it is and I have not even the slightest twinge of guilt thankyou very much.

These companies offer these sign up bonuses cus they are trying to sucker people in to their overspending ways, but using their products to do it. So by not being suckered I am making money of these people indirectly.

If you think about it, 70% of the USA economy is based on the consumer.. the consumer overspends and drives up the price of American stocks, we own Stock ETF's, therefore we earn money of the backs of the hard working (and hard spending) consumer.

I intend to do this for the rest of my life!

Frank

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Re: How do you feel about making money off of nonmustachians?
« Reply #4 on: December 18, 2014, 12:56:35 PM »
I've been thinking of side jobs to help pay down my student loans and a lot of my ideas involve making money off of other people, typically on things they don't need. For example, I want to do some small-scale manufacturing of (useful but not necessary) home goods. Usually I consider my target customer as your typical American over-spender who buys every cool little thing they see. Knowing now the ways of the Mustache, it makes me feel like I'm taking advantage of over-spending Americans who just don't get it yet.

Am I looking at this the wrong way or has anyone else had similar feelings?
Ehh.  They're going to spend their money somewhere.  May as well give it to you ;).

sol

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Re: How do you feel about making money off of nonmustachians?
« Reply #5 on: December 18, 2014, 01:04:50 PM »
We all make money off of wasteful consumers.

If you own an index fund, it's approximately 3% invested in Apple stock.  Apple makes its profit by charging ridiculous markups on  mediocre hardware, but idiot fanboys love it and we all profit from their stupidity.

Consumer spending drives something like 70% of the US economy, and I guarantee that you most of it is not vital.  For context on that 70% number, consider that economists have a complete meltdown when GDP only grows by 1% instead of 2%.  With 70% consumer spending, all it takes is a couple of bungled consumer product launches and suddenly "the global economic system is in peril".   

Bob W

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Re: How do you feel about making money off of nonmustachians?
« Reply #6 on: December 18, 2014, 01:24:44 PM »
I'm paid by the Government. 

So every penny I make was taken unwillingly from my friends and neighbors and countrymen.   I do feel bad about that but since 80% of all jobs are either directly or indirectly funded by the government there isn't much choice.  I tell myself I'm at least doing some good with the money.

At least in your situation people are willfully parting with their money for something they want.  You are in essence taking nonmustachian money and turning it into mustachian money.   You will be far the better Sheppard of their money than they were.

So think of more like adopting pets from families that didn't treat them very well and put very little thought into them.

RapmasterD

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Re: How do you feel about making money off of nonmustachians?
« Reply #7 on: December 18, 2014, 01:34:26 PM »
You are satisfying a need or want. You are producing a legitimate good.

You are not selling drugs or prostitution or automatic weapons.

Professor Ecks

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Re: How do you feel about making money off of nonmustachians?
« Reply #8 on: December 18, 2014, 01:40:38 PM »
You will be far the better Sheppard of their money than they were.  So think of more like adopting pets from families that didn't treat them very well and put very little thought into them.

Instant Classic!

Quote
You are not selling drugs or prostitution or automatic weapons.

One could argue that all those things satisfy a want.

lakemom

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Re: How do you feel about making money off of nonmustachians?
« Reply #9 on: December 18, 2014, 01:45:03 PM »
Doesn't bother me in the least!  We own a self-storage facility and without packrats we'd be out of business.  We have customers who have been with us in the same unit for 10-15 years.  In the length of time they've been paying us they could have built a garage or shed or whatever but most are on the lakes or in subdivisions and can't build.  It keeps us in grocery money.

lostamonkey

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Re: How do you feel about making money off of nonmustachians?
« Reply #10 on: December 18, 2014, 01:52:25 PM »
My side gig is pretty exploitative and some may even consider it immoral but it adds a significant amount to my total income and I am a firm believer that people should have the right to make bad decisions and there is nothing wrong with profiting from them. For example, I would have no issue owning shares in a Tabacco company if I thought it was a good investment.

Another example is I know quite a few people who think drinking and smoking is very stupid yet they own liquor stores or smoke shops to provide for their families.
« Last Edit: December 18, 2014, 01:54:24 PM by lostamonkey »

marty998

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Re: How do you feel about making money off of nonmustachians?
« Reply #11 on: December 18, 2014, 02:01:23 PM »
dbunny, you can't make money off us. Duh, we're not going to spend on things we don't need.

You are satisfying a need or want. You are producing a legitimate good.

You are not selling drugs or prostitution or automatic weapons.

These are not needs or wants that require satisfying? You may not agree with them but who's to say what's legitimate?


Kaspian

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Re: How do you feel about making money off of nonmustachians?
« Reply #12 on: December 18, 2014, 02:06:12 PM »
Like another thread has shown here, people will actually pay $6 for a small box of (literally) shit from a bull.  Hell, if they're going to waste money on actual fecal waste, I think that cash would be better served in your pocket, don't you?  A fool and his money are soon parted.  I'd never, ever con or steal from anyone but the bar for my sympathy threshold for the masses and their poor financial situations is set very high.

NoraLenderbee

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Re: How do you feel about making money off of nonmustachians?
« Reply #13 on: December 18, 2014, 04:13:29 PM »
I think it's fine to make money selling people things they want, even if you don't consider them necessities or wouldn't buy them yourself. They may have decided that this particular expense is life-enhancing for them. They may be buying it as a gift for someone else who will enjoy it. They may have plenty of money and feel comfortable spending on a non-necessity. Heck, they may even be wasting money for no good reason, but it's their money. You don't have to be responsible for their decisions, and it's not your job to be the MMM police.

Everyone has their personal limit. I wouldn't want to make money from taking advantage of desperate people or screwing the poor, like making payday loans or running a "buy here--pay here" used car lot. I wouldn't sell anything illegal or defraud someone. But selling a treat or luxury to someone who could live without it, but doesn't want to? No problem.

RapmasterD

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Re: How do you feel about making money off of nonmustachians?
« Reply #14 on: December 18, 2014, 04:14:15 PM »
dbunny, you can't make money off us. Duh, we're not going to spend on things we don't need.

You are satisfying a need or want. You are producing a legitimate good.

You are not selling drugs or prostitution or automatic weapons.

These are not needs or wants that require satisfying? You may not agree with them but who's to say what's legitimate?

Drugs: illegal
Prostitution: Illegal
Automatic Weapons: Come on...really?

sol

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Re: How do you feel about making money off of nonmustachians?
« Reply #15 on: December 18, 2014, 04:43:52 PM »
Drugs: illegal
Prostitution: Illegal
Automatic Weapons: Come on...really?

Most drugs are not illegal.

Prostitution is illegal in most places, but these days it's mostly for the person doing the buying but not the selling.

Automatic weapons are not only legal, but a vital commodity to national defense. 

Now if you're selling meth and machine guns out of your truckstop brothel, then I agree you might want to reconsider your moral stance.  But let's not paint with too broad of a brush by saying they are universally evil.

TerriM

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Re: How do you feel about making money off of nonmustachians?
« Reply #16 on: December 18, 2014, 05:43:47 PM »
I've been thinking of side jobs to help pay down my student loans and a lot of my ideas involve making money off of other people, typically on things they don't need. For example, I want to do some small-scale manufacturing of (useful but not necessary) home goods. Usually I consider my target customer as your typical American over-spender who buys every cool little thing they see. Knowing now the ways of the Mustache, it makes me feel like I'm taking advantage of over-spending Americans who just don't get it yet.

Am I looking at this the wrong way or has anyone else had similar feelings?

Thank you for this question. I have been wondering the same thing because I want to sell high income earners legitimately beautiful, quality, decorative items that they would use as gifts but that arguably nobody really NEEDS, just wants.

TerriM

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Re: How do you feel about making money off of nonmustachians?
« Reply #17 on: December 18, 2014, 05:51:17 PM »
Even now, I've got a side business set up as a home-based travel agent. The biggest commissions are for cruises and all-inclusive packages. I just don't know if I have the guts to sell these kinds of things to people. I mean, for some people, they do have value if you don't have the time/knowledge/confidence to research your own vacation or just want to relax knowing someone else is taking care of everything for you, but man! Most of these packages are mini exploding volcanoes of wastefulness. But they bring in good money.
...

I do love travel, and I'd love to help people have meaningful experiences, but I'm debating whether or not to keep going with this.

I don't think you should feel bad about this.  I think there's something to be said for someone with knowledge and experience just making these decisions.  I've come to appreciate that I can DIY on vacations, but after 40 hours of research trying to get the cheapest accommodations, I wonder if I wouldn't have been better off paying someone to do it and spending that time just working to pay for a slightly more expensive hotel or BnB.

Same thing for wedding planners.  Now that I've seen a ton of things go wrong at a wedding, I see why I should've just hired someone to deal with the issues and enjoyed socializing. 

It's the difference between cheap and frugal.  Sometimes money is well-spent.

solon

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Re: How do you feel about making money off of nonmustachians?
« Reply #18 on: December 18, 2014, 06:22:40 PM »
dbunny, you can't make money off us. Duh, we're not going to spend on things we don't need.

You are satisfying a need or want. You are producing a legitimate good.

You are not selling drugs or prostitution or automatic weapons.

These are not needs or wants that require satisfying? You may not agree with them but who's to say what's legitimate?

Yes, these things are wants and needs, but that's not the problem. The problem is they're illegal. You can't sell drugs, sex, or weapons that are illegal. The ones that are not illegal, go ahead and sell them, no problem.

Eric

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Re: How do you feel about making money off of nonmustachians?
« Reply #19 on: December 18, 2014, 06:35:54 PM »
dbunny, you can't make money off us. Duh, we're not going to spend on things we don't need.

You are satisfying a need or want. You are producing a legitimate good.

You are not selling drugs or prostitution or automatic weapons.

These are not needs or wants that require satisfying? You may not agree with them but who's to say what's legitimate?

Yes, these things are wants and needs, but that's not the problem. The problem is they're illegal. You can't sell drugs, sex, or weapons that are illegal. The ones that are not illegal, go ahead and sell them, no problem.

I don't think that post clarified much, considering the selling of some sex, drugs, and weapons are legal and some sex, drugs, and weapons are illegal.  And this can change just by driving riding your bike a few miles.  At least for me personally, what the law says has no bearing on my feelings toward the morality of any activity. 

StartingEarly

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Re: How do you feel about making money off of nonmustachians?
« Reply #20 on: December 18, 2014, 07:13:22 PM »
Very much agreed, you can't legislate my moral compass.

The_path_less_taken

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Re: How do you feel about making money off of nonmustachians?
« Reply #21 on: December 18, 2014, 07:22:45 PM »
Everyone with the sense that God gives to turnips, chooses their own path in life.

If their path/choice is to buy useless crap...bottom line it is still their choice.

If on the other hand YOU have a choice of selling something that you consider more MMMish, go for it. But unless you feel a burning need to build great bikes or a pro de-clutterer/"will clean out your closet for cash"...probably not realistic.

As in all things: follow your heart.

LifestyleDeflation

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Re: How do you feel about making money off of nonmustachians?
« Reply #22 on: December 18, 2014, 08:38:55 PM »
WWMMMD? ;-)

In your shoes, I would find a side hustle that was at least not totally useless- you don't have to build bikes, but you shouldn't sell trucks either. Selling snacks at sports games or making fine art are both examples of not-entirely-mustachian hustles that are also not completely terrible.

TerriM

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Re: How do you feel about making money off of nonmustachians?
« Reply #23 on: December 18, 2014, 10:43:02 PM »
I do think there's a difference between selling crap and selling nice stuff.  Like there's stuff I don't think China should make for any price.  Like $1 plastic Santa bobble heads that will break in 2 days and be thrown out.  Don't care the price, this is just a waste. (Or Billy Bob Bass..... oh my!)  On the other hand, you could make a nice wooden Santa statue out of wood.  Just as useless, but at least it won't be garbage in a day, but maybe garage sale in a couple of years.  Or if you become a famous artist, then it's suddenly worth tons of $$.   But at least it'll be anything but landfill then.

I guess I'd suggest not doing anything that just wantonly destroys the environment.

frugaliknowit

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Re: How do you feel about making money off of nonmustachians?
« Reply #24 on: December 19, 2014, 04:44:36 AM »
Gaming the credit card system indirectly takes advantage of non-mustacians as it does the loan shark banks and I can't help myself.  Don't really feel bad about it.  It reduces the cost of travel/vacations, so why should I feel bad?  Nothing illegal. 

TerriM

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Re: How do you feel about making money off of nonmustachians?
« Reply #25 on: December 19, 2014, 07:55:22 AM »
Gaming the credit card system indirectly takes advantage of non-mustacians as it does the loan shark banks and I can't help myself.  Don't really feel bad about it.  It reduces the cost of travel/vacations, so why should I feel bad?  Nothing illegal.

I don't see any problem with this.   I don't see this as you taking advantage of non-mustachians.  The CC companies are the ones doing so.  If everyone stopped taking on credit card debt, the companies would stop offering you these incentives.  But you taking these incentives isn't encouraging others to overspend on the cards.  It's the overspending that encourages CC companies to offer more incentives to open another account.

Now, if you start your own credit card company and do your best to encourage people to overspend and take everything out on credit, then I think you're doing something wrong.   

NoraLenderbee

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Re: How do you feel about making money off of nonmustachians?
« Reply #26 on: December 19, 2014, 11:55:28 AM »
I've been thinking of side jobs to help pay down my student loans and a lot of my ideas involve making money off of other people, typically on things they don't need. For example, I want to do some small-scale manufacturing of (useful but not necessary) home goods. Usually I consider my target customer as your typical American over-spender who buys every cool little thing they see. Knowing now the ways of the Mustache, it makes me feel like I'm taking advantage of over-spending Americans who just don't get it yet.

Am I looking at this the wrong way or has anyone else had similar feelings?

Thank you for this question. I have been wondering the same thing because I want to sell high income earners legitimately beautiful, quality, decorative items that they would use as gifts but that arguably nobody really NEEDS, just wants.



Never feel guilty, never apologize for creating beautiful things, or for selling them to people who appreciate them. I mean, you are not talking about crappy plastic Santa bobbleheads.

Beautiful decorative items are worthwhile and important even if they have no practical use. People need beauty and art and esthetic pleasure. Maybe not quite in the same way that they need food and shelter (though some would argue they are equal), but those things are still very important life-enhancers. The MMM way isn't about satisfying needs only. It's also about satisfying the wants that you've identified as being truly important to you.

If you can help people enhance their lives, add beauty and creativity to the world, and make money doing so, DO IT!