Kimberly Palmer, author of The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life wrote an essay, “A Side Business as a Way to Gain Financial Security” that appears in the Your Money section of today’s New York Times.
In the height of the recession, as new rounds of layoffs were announced on what seemed like a daily basis, I was grappling with motherhood. Staring at my newborn daughter’s face, I felt overwhelmed with the responsibility. The job market only worsened my anxiety. What would we do if I were to suddenly lose my job, or if my husband were to lose his? How would we care for our child?
As a reporter working in a struggling industry, I always knew unexpected job loss was a possibility, but now, the stakes had never been higher. Being so financially vulnerable was unacceptable to me. And one day, as I was preparing to interview a businesswoman who made her living by selling cutting boards on Etsy.com, the handmade marketplace, I thought I had come upon a solution: I could have a side job making things to sell on the site.
Kimberly Palmer is the senior editor and finance columnist for U.S. News & World Report. She writes the popular Alpha Consumer blog and is the author of a series of financial guides, Palmer’s Planners, sold through her Etsy shop.