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6 Pointless Inventions that Made a Mint

6 Pointless Inventions that Made a Mint

The process of inventing a product which can potentially make millions upon millions can sometimes be easier than you think. The computer, the microwave, cars, the CD….these are all feats of complex incredible pioneering that now make billions. However, on the flip side of that – there are many million dollar inventions which are so simple & pointless it makes you want to bang your head against a concrete wall for not thinking of it first. Here are a few of the top pointless inventions that made a mint.

A rock is a man’s Best Friend


    CC Via Flickr

    In 1975, a man by the name of Gary Dahl manufactured, packaged, and managed the sales of a product which made him a millionaire in less than six months. Down to the products USP (unique selling point) and the next to nothing cost to produce, the figures sky rocketed for him. In six months it’s thought that Dahl made fifteen million dollars – which currently would be worth around fifty-six million dollars today. This truly is a ‘stone’ cold stunner!

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    The Snuggie


      CC Via Flickr

      Ingenious, or ludicrous – you decide! The ground-breaking product in question managed to gather around two hundred million dollars in revenue; and all it was….was a bathrobe which had been turned back to front. Unbelievable! Through clever advertisements which became a media sensation, the Snuggie took off in America – pleasing simple Americans everywhere.

      Baby Toupee

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        CC Via Flickr

        Who wouldn’t want to give their baby a toupee? A toupee will provide a baby with a sense of dignity, class, prestige, and most of all; warmth. At twenty dollars a pop, this seemingly pointless product took off; bringing in millions for the manufacturer. Hopefully they sell a Bill Murray edition.

        Slinky


          CC Via Flickr

          Everyone loves a slinky! Even though this is by far is one of the simplest inventions ever to be created, in its prime many households were without one. The slinky is basically a lazy spring, which may seem pointless & dumb on the outside – but the reality is that children love to play with anything simple and fun. In fact, the more simple and pointless it is – the more a child is to like it! For example, just imagine if someone sold tailored cardboard boxes for kids to play in….it would make millions!

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          Big Mouth Billy Bass


            CC Via Flickr

            The most pointless product you could think of; a plastic mounted fish which sings songs. This tacky gift was created in the late 90s, casting it out to the American public – reeling in the financial reward. However, people soon grew irritated at this terrible gift and it fizzled out in the 2000s. But at the end of the day, the product sold over seventy millions units before it became a fish out of water….

            Doggles

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              CC Via Flickr

              You got it; dog goggles. Of course this has been invented; by reading this list you should have gathered that anything is possible! For the price of eighty dollars you can make your dog look like he’s about to swim the hundred meter final in the Olympics; perhaps someone could patent a dog swim hat too! However, the only people laughing are the manufactures – because they managed to take millions straight out of the average American dog lover’s pocket. Woof!

              In conclusion, as you can see here, not all inventions have to be ground breaking and life changing to make the big bucks. So, if you fancy making a quick million or so – all you need to do is invent the most stupid and pointless product you could think of, and you may be well on your way to the big leagues.

              If you want to make some money to help start-up your new invention then visit IronFX whose speciality is Forex Training.

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              Last Updated on August 21, 2018

              How to Pay off Debt Fast Using the Stack Method (A Step-By-Step Guide)

              How to Pay off Debt Fast Using the Stack Method (A Step-By-Step Guide)

              Whether it’s consumer debt on credit cards, student loans or a mortgage, most people find themselves weighed down by debt at some point in their lives. This can keep us working jobs we hate just to pay the bills and keep our heads above water. By learning how to pay off debt fast you can release this burden and remove some of the stress from your life.

              Today I’m going to show you how to pay off your debt fast using the Stack Method:

              Step 1: Stop creating new debt

              Most people do not receive training in handling money and how to live within their means. If you’re in debt then you’re probably one of these people and it’s time to bite the reality bullet.

              It’s going to be impossible to get out of debt unless you retrain your financial habits right now.

              You must make a stand against all the marketers trying to take your hard earned money or offering easy finance. You don’t need more stuff to make you happy. What you need is financial peace of mind.

              So cut up your credit cards or freeze them. I mean this literally. Put them in a container of water and stash them in your freezer. T

              hen when there’s an opportunity to spend, you have time to thaw out (you and the credit cards) and really decide if you need that purchase.

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              Step 2: Rank your debt by interest rate

              Make a list of all your debt with amounts and the interest rate. The highest interest rate should be at the top as this is what you’ll pay off first.

              Paying off your high interest debt is the key to the Stack Method and paying off debt as fast as possible.

              Interest is a powerful weapon and right now the bank or other financial institutions are using it against you. Interest significantly increases the amount you need to pay back and often we’re completely unaware of how much that is.

              For example, if you have a $10,000 credit card debt at 20% interest where you pay a minimum payment of $200 a month, you will end up taking 9 years and 8 months to pay off the actual amount of $21,680 including $11,680 in interest!

              Step 3: Lower your interest rates

              You can often lower your credit card interest rates by doing a balance transfer. This means moving your credit card to another bank and they will lower the interest rate to get your business.

              Shop around and try to get the lowest interest rate for the longest duration (preferably until it’s paid off completely). Just make sure you’re reading the terms and conditions carefully so you don’t get stung by the new bank in other ways.

              Once you’ve done this you can order your list of debt again if things have changed.

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              Step 4: Create a strategic spending plan

              This is where we improve your financial control from Step 1. Take a piece of paper and write down your income after tax and all the expenses that you have. This will include the minimum payments on all your debt.

              Look at your expenses and then rank them in order of importance to you. Look at the items on the bottom of your list and decide whether you’d rather have them or be financially stable. The objective is to create a Strategic Spending Plan where your expenses are lower than your income.

              You also decide how much you are willing to spend on each area of your life. You can allocate amounts for rent, groceries, eating out, buying clothes and other activities however realize that once you’ve spent your allocated money there’s no dipping into other areas.

              It also helps to have a Fun Account that you can spend on what you like and an Emergencies Account in case your car breaks down etc.

              You also want to include in your Strategic Spending Plan as extra amount you’re going to use to pay off debt.

              Can you afford $20 a week? $50? $100? $200 or more? It’s important that you get a realistic number that you can commit to each week without fail and this is your Stack Repayment.

              Step 5: Create a repayment schedule

              The first part of the Stack Method is to cover the minimum payment on every single debt you have. Any time you miss a payment, you incur fees and these add up quickly. This also includes making the minimum payment on the debt with the highest interest rate.

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              Then for the debt with the highest interest rate (your Target Debt) you’re going to add the Stack Repayment from your Strategic Spending Plan. You apply this Stack Repayment and the minimum payment until that debt is paid off in full.

              As your official minimum payment decreases, you add that extra amount to your Stack Repayment. So as your minimum repayment drops, your Stack Repayment increases equally. This will compound how fast you pay off the Target Debt by adding even more to the repayments you’re making.

              Step 6: Reward your progress

              You want to track your Target Debt so you can see your progress along the way. You can also decide on milestones that you’re going to celebrate and reward yourself on.

              A reward doesn’t have to cost money but if it does then it comes from your previously allocated Strategic Spending Plan.

              This is an important step as it will keep your motivation going when you feel your willpower fading.

              Just like you’ve trained yourself to brush your teeth and shower, you can train yourself to manage your money. Feel great that you’re now entering the 10-,20% of people who are actually responsible with money.

              Step 7: Compound your results

              Once you pay off your Target Debt, you have a huge celebration and congratulate yourself. Then you move the Stack Repayment (which includes the previous minimum payment as well now) to the next debt with the highest interest rate.

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              This becomes the new Target Debt and you are using your Stack Repayment amount plus the minimum payment for the new debt.

              This is why the Stack Method is so powerful. As you decrease a debt you actually increase your Stack Repayment amount. This means the second debt will get paid off even faster, the third even faster than that, and so on and so on until you are completely debt free.

              Step 8: Be kind to yourself

              During this process, your resolve is going to be tested multiple times. Maybe you’ll have an emergency like your car breaking down or the need to travel for a sick relative. The important thing is to not throw up your hands in despair while going back to your old habits.

              Life will test your commitment to your new responsible money attitude and it’s up to you how you respond. When things go wrong (and I guarantee they will) you need to shrug it off and get back on track.

              Show compassion when you accidentally go over your Strategic Spending Plan and decide to do better next week.

              The bottom line

              The Stack Method is a powerful tool but it’s up to you whether you use it.

              If you really want results, then bookmark this article immediately and start working through the steps.

              It’s only by the decision you make right now that you will enjoy a debt free future and live a financially responsible life.

              Featured photo credit: Unsplash via unsplash.com

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