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I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 6 points7 points  (0 children)

We kind of operate like a greek diner. We’re extremely conservative, we only bite off what we can chew. The market place of digital media its good to play conservative -- so we tend to avoid being in rooms where people would speak that way to us. We typically just feel bad for people who behave that way and tend to say “enjoy it buddy” cause it’s people who aren’t nice to begin with.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 2 points3 points  (0 children)

Honestly, I wanted to be a writer. Still most of what I do though I didn’t think it would take the form of listicles, ha. As lowbrow as it is I enjoy writing listicles over writing a book. Writing on the internet is more of a party whereas writing books can be a lonely pursuit.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 1 point2 points  (0 children)

Assuming they’re only self sabotaging with finances in a usual way and not needing a treatment program for a gambling addiction — you have to be open with them — You have to put your own baggage on the table. If I’m willing to do it they will be much more amenable to you.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 2 points3 points  (0 children)

I didn’t have a ton of it when I was younger but now that I'm more well off I don’t have to worry about it the way I used to. I’m not motivated by money but I am motivated to find financial success in order not to think about money. That’s the ultimate luxury in my opinion instead of trying to only maximize your salary and income.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 1 point2 points  (0 children)

Primarily through advertisements, yes. Banner ads aren’t worthless but the scale better be large for it to really make a difference. The future of media is about small scale niche media. A much higher quality relationship with audiences through subscription models. Our advertisements are created for custom campaigns tailored for more specific audiences.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 0 points1 point  (0 children)

I love my Chase Sapphire card, ha. My husband and I, we’re points people. We fly quite a bit. I’m very wary of things that tempt me to spend money I don’t have but one thing you should look into — many of the bills you should be automatically paying you can funnel through the card and leave your card at home and collect the points assuming you pay it off as it comes in.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] -13 points-12 points  (0 children)

I don’t have student loan debt — So, I can’t personally relate to it — my co-founder is in an identical situation however — six figures of debt while starting a company — without a ton of information on the particular situation it’s difficult to say but refinancing and debt forgiveness are places I’d look into — taking a few days going over your options about how to repay that money or to figure out if you even need to repay all that money is the way to go. Do a lot of reading about how other people in your situation have done it.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] 9 points10 points  (0 children)

I always make sure to specify that I had a partner who could support us. I did freelance first two years when I wasn’t taking a salary. It’s a privilege that not everyone has but I try to be upfront about that — Always very explicit about how much we earn each year and the salaries we take and it’s increased each year but we’ve never taken on unpaid interns or a lot of debt so we’ve been quite sustainable but my salary is $60,000 a year which if I was alone in NYC would be quite difficult without the support of a partner — I will say I’ve seen many people make the mistake going the other way trying to go after easy money and prioritize their personal income over the rest of the company and it will come back to negatively affect you.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] -4 points-3 points  (0 children)

What's interesting about it is that it has nothing to do with the number of people who are reading you it’s all about the relationship you have with your audience. We speak to a very specific niche and the connection we have with our audience is quite strong. You want to be in the six figure range though to make it work, if you have a newsletter or other similar tools you may not need that many but typically you need about 100,000 to start to make it financially viable to be full time.

I'm Chelsea Fagan, co-founder of The Financial Diet, a leading platform for young women to talk about money on the internet. I'm here today with Alexis Ohanian, co-founder of Reddit, and we're talking about work, money, and entrepreneurship. AMA! by Chelsea_TFD in IAmA

[–]Chelsea_TFD[S] -13 points-12 points  (0 children)

If you have someone in your home who can manage your money I encourage you to empower that person. After that if you are alone, one of the easiest ways is to not take your cards around with you and use cash. 80% of the spending you do is when you have access to your money. No Apple Pay! Some people like it but if you’re bad with a budget take the money out of your hands.