“Should You Only Do Side-Hustles Aligned With Your Values?” Daily Financial Thoughts #3

“Should You Only Do Side-Hustles Aligned With Your Values?” Daily Financial Thoughts #3

Let’s say you have only these 2 options

One side hustle pays less but is more aligned with your values.

One side hustle pays more but is less aligned with your values.

Which one would you choose?

I’ll give a personal example.

I don’t like clutter.

I try to live a more minimalistic, less cluttered lifestyle.

I don’t like adding clutter to people’s homes or their lives.

That’s why the business and industry I’m in provides experiential value to people without physically cluttering up their homes (because it’s more aligned with my values).

A couple of years ago when I first started my FIRE journey, I took a shot at going around to local Goodwill and Salvation Army Stores to find antique plates that people donated after clearing out their grandparents estates but didn’t realize the value of their plates.

I would google the plates after looking at the brand names underneath to see if they were of any value.

One time I found $200 worth of plates and bought it for only $20.

I thought that if I managed to sell each plate on eBay, I would net approximately $180 because the buyer would pay for shipping and handling.

It was slow going and I think I only managed to make a sale or two where each plate was $7 or so.

Selling these things to people didn’t align with my values because even though they would be going to happy homes where they’d be valued (at least I hope so) I couldn’t shake off the sense that it’s basically going to end up as clutter in someone’s home, and after they die, their children are going to donate them and the cycle begins again.

Maybe my thoughts and feelings would be different if right away I made a ton of money flipping old plates on eBay lol.

But alas, I didn’t.

What are your thoughts?

Should you do side hustles aligned with your values even if it means making less money?

Or would you “sell your soul to the devil” and make more money in a side hustle even though it went against your values?

Assuming those are your two only options.

The Enjoyment Factor

I feel like this could be a double-edge sword on your FIRE journey.

If you enjoy doing the side-hustle even though it doesn’t make you much money, you’re enjoying the journey to FIRE but it’ll take you longer to reach there.

If you don’t enjoy your side-hustle on your FIRE journey, it’s going to be less fun for you and you could end up quitting the side hustle, even though it earns you more money.

I suppose if reaching FIRE is your ultimate goal, then you’d do the latter and do whatever it takes to reach your monetary goal right?

But I remember listening to a podcast episode from the Mad Fientist where he interviewed Grant Sabatier, a guy who went from broke to millionaire in 5 years, and they both talked about how, if they could go back and do their FIRE journey again, they’d take it slower and enjoy the journey.

Grant talked about how he wasn’t happy nor healthy during those 5 years. He talked about how he was irritable and cranky.

So if enjoying life and the journey is your goal, than take the slower route?


 

Jack The Dreamer

I'm a dreamer. But you know what? All the best people are. And if you're one too, join the revolution! My blog is about being financially independent and working towards that goal each and every single day so that we can all start living the life we've always dreamed of! Jack the Dreamer, over and out!