#73: How To Budget, The Art of Self Reliance & Investment Diversification

Join Melvin Lim, Co-founder and CEO of PropertyLimBrothers, as he catches up Dawn Fiona, a.k.a SG Budget Babe! Dawn shares her journey of financial empowerment, having saved $20,000 in just one year on a modest ~$2,000 take-home monthly salary through disciplined savings strategies, not investments. 

 

What began in 2014 as a blog born out of boredom evolved into a platform focusing on finance, driven by Dawn's passion for writing and client engagement.Despite juggling roles, including teaching tuition to supplement income and covering parental allowances and insurance, Dawn found joy in educating others, viewing it as a passion rather than merely a means to an end. 

 

In 2022, she transitioned focus to a new business venture, balancing entrepreneurial pursuits with family responsibilities, including teaching tuition even through pregnancy. Dawn's insights on financial literacy for fresh graduates, emphasising debt clearance, emergency savings, and insurance planning, provide valuable guidance for navigating early adulthood challenges. Find out more about what drives and keeps SG Budget Babe driven, on this special episode of NOTG!

 

Timestamps:
00:00 Intro
00:33 Start of blogging
04:33 Side hustle mindset
07:18 Fiona Dawn Cher fitness journey turn into business opportunity
10:01 Teaching at home / Falling down the overhead bridge
11:47 First finance article went viral
13:13 Fresh graduate financial advice (Importance of insurance)
14:15 Insurance to get
18:27 Cut down debts as fast as possible
19:40 Seasons of life
29:14 Risk of retrenchment
33:33 Will AI replace jobs?
37:36 AI Investing
39:11 Budgeting in the 20s
42:09 Risk of Cryptocurrency
42:58 Allocated budget for investing
45:25 Knowledge of investing
51:58 Checklist before investing
55:22 Time analysing stocks / Fear of investing
01:01:43 Time to sell a stock
01:05:55 Meaning of money
01:14:21 Meaning of money in your 40s
01:17:08 Dealing with retrenchment
01:20:53 Retire at 45
01:24:43 Top three books
01:28:17 Personal Growth from teaching and writing
01:29:50 Work-life balance