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The Economy of You

Discover Your Inner Entrepreneur and Recession-Proof Your Life

By Kimberly Palmer
10-minute read
Audio available
The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life by Kimberly Palmer

The Economy Of You (2014) is your guide to establishing and maintaining additional sources of income. From seeking out opportunities and developing networks to finding your audience and facing new challenges, these blinks provide you with the tools you need to do what you love without leaving your full-time job.

  • Employees interested in entrepreneurship
  • Parents seeking to boost their financial security
  • Individuals curious about changing career paths but not ready to leave their current job

Kimberly Palmer is a blogger for U.S. News & World Report whose expertise in money management has made her a sought-after guest on NBC, CNBC, CNN and other networks. Palmer has written articles for newspapers including The Washington Post and The Wall Street Journal.

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The Economy of You

Discover Your Inner Entrepreneur and Recession-Proof Your Life

By Kimberly Palmer
  • Read in 10 minutes
  • Audio & text available
  • Contains 6 key ideas
The Economy of You: Discover Your Inner Entrepreneur and Recession-Proof Your Life by Kimberly Palmer
Synopsis

The Economy Of You (2014) is your guide to establishing and maintaining additional sources of income. From seeking out opportunities and developing networks to finding your audience and facing new challenges, these blinks provide you with the tools you need to do what you love without leaving your full-time job.

Key idea 1 of 6

Going through financial struggles isn’t the only incentive for finding a second job.

It seems like all we ever hear about is how volatile the global economy is. Since the 2007 financial crisis, many individuals have taken extra steps to protect themselves. Once thought of as a last resort, working two jobs is becoming a norm today.

A 2012 study conducted by the University of Michigan revealed that as many as 50 percent of participants described themselves as financially worse off compared to their situation five years ago. According to the US Bureau of Labor Statistics, 5 percent of the working population in the United States already has at least two jobs. What’s the relationship between these two pieces of information?

Well, it’s easy enough to assume that people get a second job because of financial struggles, be it a growing debt, increasing rent prices or mounting medical bills. But while this is logical, it’s not the whole story.

Take Joe Cain, for instance. A former cop, Cain built the website sidegig.com, a platform where police officers and firefighters could offer additional services, such as home repair work or legal consultation. He didn’t take on his website project out of financial desperation. Rather, Cain was determined to gain new skills and opportunities.

Cain was able to become a certified tax specialist by taking classes while still working on the police force. He had success offering his accounting services to other people, and decided to continue focusing on tax consultation. Not only did this job pay better, it also afforded Cain more time with his two children. But not wanting to stop there, Cain also invested time into sidegig.com to secure yet another stream of income.

Cain’s story shows how motivations for finding additional streams of income can be manifold. A need to earn more money often goes alongside a desire for changes in your professional and personal life.

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