Recession 2.0: Living Within Means

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I have heard the expression "wrong place, wrong time" so many times in my life that taking risks is no longer an option. That apparently occurred to both of you, but of course you couldn't foresee the economic doldrums with are in right now.

If you are still young, i.e. under 50, you shouldn't have any problems: one of you will certainly land a daytime job given your obviously high level of skills. But don't despair and don't give up your budding enterprises, if you can. Economic dawn will take place again and you will be well positioned to rocket to fame and fortune.

Jacques Sprenger of TX 2:51PM November 20, 2008

Since security seems to be your main concern, next time around try making the self employment your 2nd job while holding on to your benefits paid day job. Then, when your self employment reaches the point that you can let go of your anchor, you're not feeling the anxiety you are now feeling because you leaped before you looked.

HillbillyBill of TN 5:26AM November 19, 2008

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Alpha Consumer

Alpha Consumer

Kimberly Palmer, senior editor for U.S. News & World Report, is the author of Generation Earn: The Young Professional's Guide to Spending, Investing, and Giving Back. Send her your personal finance questions.


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