HIBT Lab! The Financial Diet: Chelsea Fagan

How I Built This with Guy Raz

Guy Raz | Wondery

Business

4.8 • 31.1K Ratings

🗓️ 14 July 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Chelsea Fagan got her first credit card when she was a senior in high school. She quickly maxed it out, racking up debt that would burden her through her early twenties. Then, in 2014, Chelsea started a blog as a way to keep track of her spending habits and get her financial life back on track. She called it “The Financial Diet.”

This week on How I Built This Lab, Guy talks with Chelsea about how she turned that blog into the multimedia personal finance business it is today. Plus, Chelsea shares why she prioritizes employee satisfaction over growth and explains her judicious approach to brand partnerships.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

0:00.0	Hey, Prime members, you can listen to how I built this early and ad-free on Amazon Music.
0:07.0	Download the app today.
0:10.0	Hello and welcome to How I Built This Lab.
0:12.8	I'm Guy Ross.
0:14.3	The financial diet is a media company that offers up personal finance advice.
0:19.3	It started out as a blog back in 2014 when Chelsea Fagan was trying to get her own financial
0:25.2	life back on track after racking up credit card debt and developing bad spending habits
0:31.1	in our late teens in early 20s.
0:33.5	Eventually, her blog turned into a video blog, a newsletter, a podcast, and live events.
0:40.1	And today, the financial diet or TFD, for short, is a multimedia business with more than
0:45.8	10 employees and multiple revenue streams.
0:49.4	But unlike many of her competitors in the space, Chelsea Fagan has some pretty firm rules.
0:55.6	She doesn't promote crypto, and she's not obsessed with growing the company, or even
1:01.0	growing her audience.
1:02.5	Her goal to build a sustainable and manageable business.
1:06.8	Chelsea Fagan, welcome to show.
1:09.1	Thank you for having me.
1:10.6	Alright, so basically, you've written that you, quote, destroyed your financial life
1:17.3	between the ages of 18 and 22.
1:20.4	What happened to you during that time?
1:22.2	What was going on?
1:23.6	Yeah.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Guy Raz | Wondery, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Guy Raz | Wondery and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.