E7 – Eric Rosenberg from Personal Profitability

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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.

[0:56] Can you tell our listeners a bit about yourself?
·      Lives in Southern California
·      Two dogs
·      One little girl and another on the way

[1:37] 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

[2:41] What made you the most nervous to work for yourself?
·      How much will I make each month?

[3:25] 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

[5:52] 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

[7:38] 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
[9:52] In your opinion, is there a range for how many to have?
·      My average- about 15
·      Everyone is different

[10:40] 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

[10:58] What is the biggest financial mistake do you think that people make?
·      Just ignoring money
·      Try Mint.com or Personal Capital

[12:24] 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

[13:30] What is your favorite chapter in your book? Why?
·      Chapter 1- Mint.com
·      Ah ha moment in the book for people

[14:17] 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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[16:48] Are there any more books in your future?
·      A book underway: Personal Profitability
[17:26] What books or other podcasts do you recommend to our listeners?
·      Books: The Automatic Millionaire & I Will Teach You To Be Rich

[18:26] What is the best advice someone ever gave you?
·      To track every dollar you make and every dollar you spend

[19:55] What is your favorite quote?
·      Yoda- Do or do not, there is no try

[20:32] Where can our listeners find you?
·       Personalprofitability.com

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