Good Cents by Payactiv

In this episode of Good Cents by Payactiv, host Eric Rosenberg discusses the rising cost of groceries and how mindful budgeting can help. He’s joined by Justin from The Price of Avocado Toast, who shares how he and his wife paid off $132,000 in debt and learned to be intentional with their grocery spending.

Key takeaways:

• Having a plan for the week helps reduce waste and prevents last-minute, costly food decisions.
• Simple meals with versatile ingredients can save money without sacrificing variety.
• Use food banks if needed. These resources exist to help people stretch their budgets.
• Get creative with ingredients. Repurpose staple items in multiple ways to maximize value.
• Shop smart to prevent waste. Buy only what you need for the week to avoid food spoilage.

In this episode, the host, Eric Rosenberg, discusses the importance of budgeting for the new year and how it can set the foundation for financial success. He breaks down the budgeting process into simple, actionable steps to help listeners take control of their finances.

Key Takeaways:

• Why Budgeting Matters – Budgeting helps reduce financial stress, achieve goals, and make intentional spending decisions.
• Review Your Spending – Look at last year’s expenses to understand where your money went and identify areas for improvement.
• Set Financial Goals – Define short-term and long-term goals, such as paying off debt or saving for a big purchase.
• Build a Budget – Categorize expenses, compare them with income, and adjust spending habits accordingly.
• Cut Back on Unnecessary Expenses – Identify areas where you can save and prioritize spending on essentials and personal goals.
• Automate Savings and Payments – Use automation to ensure bills and savings contributions are handled without extra effort.
• Monitor and Adjust – Regularly review your budget to stay on track and make changes as needed.

In this episode of Good Cents by Payactiv, host Eric Rosenberg explores practical ways to tackle utility expenses, including energy, water, and internet bills. These essentials can strain monthly budgets, but Eric highlights financial assistance programs and energy-saving strategies to ease the burden. Whether you're struggling with high bills or simply looking to save, this episode is packed with actionable insights and resources. Here are the key takeaways

• National Assistance Programs:
• LIHEAP (Low Income Home Energy Assistance Program): Offers one-time utility bill payments, energy crisis intervention, and weatherization assistance.
• Weatherization Assistance Program (WAP): Provides funding for home upgrades to reduce energy bills.
• Lifeline Program (FCC): Supports low-income households with phone and internet bill subsidies.
• State-Level Programs:
• California: CARE and FERA provide discounts of up to 35% on energy bills.
• New York: HEAP offers heating assistance and emergency benefits.
• Texas: CEAP delivers bill assistance and energy education.
• Pennsylvania: CAP and LIURP reduce utility debts and monthly bills.
• Utility Company Assistance: Many companies offer programs for low-income customers, including discounts, appliance upgrades, and free installation of energy-saving devices.

Energy-Saving Tips: Optimize energy use with strategies like adjusting your thermostat, using efficient appliances, and weatherizing your home.

In this episode of The Good Cents by Payactiv Podcast, host Eric Rosenberg welcomes Daniella Flores, a side hustle expert and founder of I Like to Dabble, to share her insights on how people can earn at least $400 a month through side hustles. Daniella dives into various side hustles and gig apps, explaining how anyone, regardless of their schedule, can build extra income while improving their financial security. Here are the key takeaways:

• Getting started with gig apps like Rover, Instacart, and Postmates is an easy way to earn money flexibly. These platforms allow people to offer services like pet sitting or grocery delivery, providing an opportunity to make extra income on your terms.
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• Many gig apps experience higher demand during holidays and busy seasons. Taking advantage of these periods, when prices surge, can help boost earnings significantly.
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• Flipping furniture, collectibles, and home decor found at thrift stores on platforms like Facebook Marketplace is a profitable side hustle. With minimal investment, you can make quick fixes and sell items for a significant profit.
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• Apps like Shift Work and Wonolo can help people find temporary or extra shifts in industries like hospitality, allowing workers to pick up additional hours and increase monthly earnings.

When selling items online, it’s essential to meet buyers in public places to avoid scams and ensure a safe transaction. Being cautious throughout the selling process makes it easier and safer for both parties.

In this episode of The Good Cents by Payactiv Podcast, host Eric Rosenberg welcomes Katie Brewer, CFP, to discuss practical tips for financial planning as we enter 2024. Whether you're starting to plan or want to improve your current habits, this episode provides actionable advice to set you up for financial success in the new year. Here are the key takeaways: 

• Begin financial planning before the holiday season to reduce January stress.
• Set up dedicated accounts for specific goals like holidays or travel to stay organized.
• Start by gathering all your financial data to better understand where money is going.
• Use budgeting tools like Payactiv to categorize expenses and track your financial habits.
• Review your employee benefits and make sure you’re maximizing contributions (e.g., 401(k)).
• Check for unclaimed property through state websites and verify your credit report for errors.
• List your debts, their interest rates, and prioritize high-interest ones.
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• Break down your debt repayment into manageable milestones to avoid feeling overwhelmed.

In this episode of The Good Cents by Payactiv Podcast, host Eric Rosenberg and guest Jen Smith, budgeting expert and author, share practical strategies for effective year-end financial planning. As the year winds down, it's the perfect time to reflect on your financial habits and set the stage for a successful new year. Here are the key takeaways:

• Conduct a 90-day transaction inventory to identify patterns and spending triggers.
• Use tools like Google Sheets to categorize expenses by frequency or amount.
• Focus on modifying small habits, like limiting emotional support purchases, to reallocate funds effectively.
• Prioritize high-interest debts and create a manageable repayment plan based on seasonal spending trends.
• Break goals into quarterly milestones to maintain momentum without feeling overwhelmed.
• Review all recurring bills and subscriptions, negotiate better rates, or cancel unnecessary ones.
• Spread these tasks throughout the year for a less daunting process.
• Set inspiring short- and mid-term goals, such as saving for vacations or family milestones.
• Automate retirement savings through employer plans or IRAs, ensuring contributions are actively invested.
• Visualize goals with tools like dream boards to maintain focus on the bigger picture.
• Balance financial discipline with fulfilling immediate aspirations to stay motivated.

In this episode, Eric explores strategies to navigate Cyber Monday without overspending or derailing your financial goals. Cyber Monday, paired with Black Friday, creates a shopping frenzy, making it easy to blow through budgets. Here are the key takeaways:

1. Avoid Unnecessary Purchases: You don't have to participate in Cyber Monday. Spending on items you wouldn’t normally buy isn’t saving, even if they’re discounted.
2. Set a Budget and Prioritize: Create a holiday spending plan and a prioritized wish list to avoid impulsive purchases. Stick to your budget by cutting items that exceed your spending limit.
3. Shop Around: Use tools like Google Shopping, Wirecutter, and "camelcamelcamel" to compare prices and verify discounts. Beware of misleading deals where prices are temporarily raised before Cyber Monday.
4. Bundle Deals and Cash-Back Offers: Look for product bundles or cash-back rewards to maximize value. Use tools like Rakuten, Honey, or credit card portals to stack discounts and cashback.
5. Be Strategic with Credit Cards: Use cashback or rewards credit cards only if you can pay off the balance in full to avoid interest.
6. Sign Up for Alerts: Subscribe to store newsletters or notifications temporarily for early deals, but don’t hesitate to unsubscribe later.
7. Avoid Debt: Don’t go into debt for non-essential purchases. Plan ahead and save throughout the year for the holidays to eliminate financial stress.

• Big changes, big wins: We’re diving into simple tweaks that can make a huge difference in your budget, like cutting car payments or lowering rent. These are the game-changers that can save you thousands!

• Small moves, big savings: From canceling unused subscriptions to switching insurance plans, these little adjustments can free up a lot of extra cash.

• Take control effortlessly: With Payactiv, you can automate saving1 and avoid fees without lifting a finger—helping you stay on top of your money, stress-free.

• Share the journey: Grab an accountability buddy, share these tips, and tackle your financial goals together—it’s always easier (and more fun) when you’re not doing it alone!

This podcast episode provides practical tips for building a $500 emergency fund in 90 days. Key points include:

• Breaking down the $500 goal into a more manageable $5.56 per day savings target
• Identifying areas to cut spending, such as subscription services, dining out, and impulse purchases
• Exploring ways to increase income through overtime, side hustles, or finding a higher-paying job
• Automating saving1 transfers to make the process easier

Utilizing tools like the Payactiv app2 to access earned wages3 and avoid fees

In today’s episode of The Good Cents by Payactiv Podcast, host Eric Rosenberg answers the top personal finance questions submitted by Payactiv users, Instagram followers, and email subscribers. From setting savings goals to deciding between paying off debt and saving, this episode offers practical advice for everyone, whether managing variable income, building an emergency fund, or planning for short-term financial goals. Tune in for actionable tips to help you move from financial stress to stability.



In this episode, we’ll cover:

• Begin by identifying items around the house that can be sold online for quick cash. Consider high-yield savings accounts to maximize returns on short-term savings.
• Base your budget on the lowest anticipated income to keep expenses in check, then allocate any extra income toward goals like building an emergency fund or paying down debt.
• Even if cash is tight, small monthly contributions can help create a safety net. Start small and stay consistent.
• It’s essential to distinguish between needs and wants. Be honest about spending priorities to prevent unnecessary dips into emergency funds.
• When deciding between paying off debt and saving, small savings contributions come first, preventing the need for future debt in covering everyday expenses.
• Sinking funds can help you save for irregular expenses like car repairs or holidays without disrupting your monthly budget.
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• Tap into free resources, such as local libraries and foundational finance books, to build and expand your financial knowledge.