How I Built This with Guy Raz HIBT Lab! The Financial Diet: Chelsea Fagan
Jul 14, 2022
Chelsea Fagan, Founder and CEO of The Financial Diet, shares her inspiring journey from credit card debt to building a successful personal finance business. She discusses the importance of financial education for young people and how her blog evolved into a multimedia platform. Fagan emphasizes employee satisfaction, innovative pay structures, and the need for transparency in business. The conversation highlights empowering women's financial literacy and the ethical responsibilities of content creators in maintaining trust with their audience.
AI Snips
Chapters
Transcript
Episode notes
Early Financial Struggles
- Chelsea Fagan accumulated substantial debt in her late teens and early 20s due to compulsive spending habits.
- This stemmed from insecurity around money after moving from a low-income community to an affluent one.
Writing Beginnings
- Chelsea Fagan began her writing career by cold pitching articles, with her first one going viral.
- She wrote extensively for free initially, including for established outlets, to gain experience.
TFD's Origin
- After receiving a $22,000 book advance, Chelsea paid off her debts and started a Tumblr blog.
- The blog, 'The Financial Diet,' initially served as a personal accountability tool for improving her financial habits.