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Master Your Finances in Life & Business ft. Chelsea Fagan
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- čas přidán 18. 08. 2024
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This week on The Journey Podcast, Morgan DeBaun sits down with The Financial Diet's Chelsea Fagan to discuss the intersection of identity, finances, and entrepreneurship.
To start, Chelsea delves into why so many people are feeling "insane" with the current state of the economy, which is vastly different from what millennials anticipated as they entered adulthood. Morgan and Chelsea open up about their family financial backgrounds, with Chelsea sharing how moving from a low-income community to a more affluent one led her to constant self-comparisons, and eventually, credit card debt. This conversation extends into how social media exacerbates these comparisons, as individuals often present lifestyles they can't truly afford, impacting financial behaviors across generations, especially for Generation Z and Generation Alpha.
The discussion transitions into the struggles of entrepreneurship, as both Morgan and Chelsea acknowledge the trap entrepreneurs can fall into when their identity is closely tied to their business. Identity and entrepreneurship are examined further, particularly how becoming a mother can shift one's self-perception; Morgan shares her experiences as a mother, while Chelsea provides insights from observing her business partners' transitions into parenthood, despite her own decision not to have children. Chelsea acknowledges that she has had to be intentional about giving herself other projects and passions to pour her energy into so as to not become consumed by her work.
The conversation touches on the societal pressure to excel immediately in new ventures, and both Morgan and Chelsea highlight the value in trying new things and continuously evolving. They also express their desire to step back from the constant online grind, seeking more experiential endeavors in their businesses, such as retreats and other in-person offerings.
Chelsea offers a behind-the-scenes look at The Financial Diet's monetization strategies, explaining the three key revenue streams: ad revenue, direct-to-consumer sales, and PR opportunities. She details how the company has strategically adapted these models, including the shift to a subscription-based model, and the impact this has had on their business over the years.
Join Morgan and Chelsea for a thought-provoking conversation on current financial realities, the complexities of entrepreneurship and identity, and the pursuit of a more balanced, fulfilling life. To support the podcast, leave a five-star rating and review wherever you listen!
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Follow us on Instagram: / thejourneybymdb Produced by MicMoguls.
We love chelsea and TFD!
This is a collab that I didnt see coming but cant wait to see. Love both ladies.
What an amazing episode!!! ❤️
Elizabeth Minchilli is chef's kiss...The life! Sharon Santoni is the French answer to Elizabeth...Mimi Thorne too..
Great talk, this new social media makes you feel you failed in life and normal job 8-5 isn’t paying bills so you feel depressed.
Loved this episode! Thank you both for all the insight
I follow the older ladies on IG. Omg! They give me life! I love it.
4 minutes in and I’m like I need to hear all of this!!!!
As low income person Chelsea I would love for fancy relaxing place to have scholarships it would feel to be seen and enjoy like just others who have a lot money .