Eric Rosenberg on side hustling, entrepreneurship, credit cards & debt

Original Show Notes: Eric Rosenberg

 

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.

So, welcome Eric!

[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 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: Credit Karma mint.com Quizzle annualcreditreport.com --> report from three credit bureaus Don’t give credit card number- red flag

VLR-

[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?

com