Author of the “Personal Finance Arsenal: Tools to save money, time and headache” Eric Rosenberg is now a full time freelance writer and his work has been published in places like the Huffington Post, Business Insider and Investopedia.
Before his days as a freelance writer, Eric worked in banking before quitting his day job and taking the leap to work for himself.
[1:25] Can you tell our listeners a bit about yourself?
· Lives in Southern California
· Two dogs
· One little girl and another on the way
[2:6] How did you decide it was the right time to take the plunge to quit your job to work for yourself?
· Side hustling for a long time
· 2015- $40,000 in revenue on the side
[3:10] What made you the most nervous to work for yourself?
· How much will I make each month?
[3:54] You’ve been published in quite a few journals; can you explain your piece from Huffington Post about your strategy for paying off your student loans?
· $40,000 in student loans- paid off in 2 years & 6 days
· Cut budget really low- inexpensive apartment
· Every extra dollar went into student loans
· Paid loan every payday/bonus/ tax refund
[6:21] What exactly is the debt snowball that you mentioned?
· Dave Ramsey
· Pay off debt in order of size- smallest -> largest
· Debt avalanche- pay off in order of interest rate- highest -> lowest
[8:7] I see that you are also a big fan of using credit card points to your benefit. What cards are you currently using? Why did you choose these?
· Chase Sapphire Preferred
· Amex Everyday Preferred
· Chase Freedom
[10:21] In your opinion, is there a range for how many to have?
· My average- about 15
· Everyone is different
[11:9] Do you open and close credit cards based on their reward system?
· What do you want to do with your credit?
· Longer you keep a card open, the better
[11:27] What is the biggest financial mistake do you think that people make?
· Just ignoring money
· Try Mint.com or Personal Capital
[12:53] You’ve also written a book! “Personal Finance Arsenal: Tools to save money, time and headache” a quick 44 page read that is chalk full of information- what was the motivation behind this book?
· Great tools coming out- wanted to compile information
· Speed up the process of managing your money
[13:59] What is your favorite chapter in your book? Why?
· Chapter 1- Mint.com
· Ah ha moment in the book for people
[14:46] What financial move or mistake did you learn the most from?
· Paying off student loans
· Working on both sides of the loan space- paying/ giving out
· Check credit before going to the bank:
o Credit Karma
o Mint.com
o Quizzle
o Annualcreditreport.com –> report from three credit bureaus
· Don’t give credit card number- red flag
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Value Link Round
[17:17] Are there any more books in your future?
· A book underway: Personal Profitability
[17:55] What books or other podcasts do you recommend to our listeners?
· Books: The Automatic Millionaire & I Will Teach You To Be Rich
[18:55] What is the best advice someone ever gave you?
· To track every dollar you make and every dollar you spend
[20:24] What is your favorite quote?
· Yoda- Do or do not, there is no try
[21:1] Where can our listeners find you?
· Personalprofitability.com
