fbpx

Insuring Your Dependents Is Important Too: Dawn Cher, SGBudgetBabe Chats About Insurance

How SGBudgetBabe Started

It took some encouragement from Dawn Cher’s boyfriend (now husband) to have her start penning down her knowledge about money matters some 7 years ago.

Luckily for many, she took the plunge. Today, Dawn’s website has been viewed over 17 million times. The blogger, better known as SGBudget Babe, writes about a wide range of financial topics such as cryptocurrency and insurance, as well as more personal stories like how she budgeted for her wedding, and the challenges of raising two kids.

Check out our full interview with Dawn to find out what she thinks about term-life and whole-life insurance, and her other personal finance tips.

Relatable Content

Dawn’s blog draws between 400,000 and 500,000 readers every month. Readers like how relatable she is.

She talks about how she comes from a low-income family and her struggles with saving and being disciplined with money. Her articles are practical too — she shares how she saved up for her university exchange in the US, how she funded her wedding, and now, how to parent on a budget.

As a mother of two, Dawn’s stories appeal to many young parents who are learning how to plan their own finances while raising children.

Dawn also gives workshops on personal finance, which are often well-attended because of Dawn’s straight-shooting style.

Source: Dawn’s Blog

Source: Dawn’s Instagram

Cryptocurrency Guides and Tips

Dawn started looking into cryptocurrencies in early 2017.

Since then, she has written many articles on the digital currency, such as how to get started investing in it, and which tokens to buy.

She said many people complain that they should have bought more Bitcoin when it was much cheaper. But Dawn does not regret her decision to cap her purchase, as she only wanted to invest as much as she could lose.

The prices of cryptocurrencies are extremely volatile and unpredictable, she cautioned.

But she believes in the value of cryptocurrencies and since 2017, has urged readers to put some money in Bitcoin. For those that listened, they would have made five times their initial investment today.

Why Insurance is Important

Source: Thomson medical

“I can invest like I do because I know all my bases are covered through my emergency savings as well as the insurance plans that I have that will protect me in the event of any unfortunate incident,”  Dawn said about the importance of having insurance.

She said being insured is crucial as her retired parents, in-laws, and children rely on her financially.

Dawn did not just get maternity insurance when she was pregnant. She also insured her children with integrated shield plans for hospitalisation, personal accident plans, and multi-pay critical illness policies.

As she took on more responsibilities in her family, Dawn looked for ways to increase her wealth by looking beyond stocks. She may start her own business one day, she said.

Another advice she has is to plan for retirement early, and be well-insured so this eases the burden on her children, especially if she falls sick.

Being a Mother

Dawn stressed that raising children in Singapore is expensive, and young parents have to be much more prudent with their finances once they have kids.

Dawn and her husband spent $25,000 just on essentials in the first year of having Nate, their firstborn.

She also encourages her two boys to start learning about money early and instils in them values such as saving and delayed gratification. In fact, she even crafted a diversified investment portfolio to teach them about the importance of investing in different assets.

Educating Yourself

Dawn also advises her readers not to rush into investing. She admits to losing a big sum of money because she did not do her homework.

Do the research first, and trust your own judgement ultimately, she said.

Active on Instagram

Dawn regularly posts on Instagram about her life and her family, as well as her opinions about the latest financial news. She has 12,400 followers today.

Source: Dawn’s Instagram

Conclusion

Dawn started her personal finance journey early and her hard work has paid off. For one, her early foray into cryptocurrencies have reaped her significant rewards.

Like our SgFinancePros series? Check out the other videos you missed on our Youtube channel. You’ll probably like our Money Journals series too, where everyday Singaporeans and Malaysians give us a glimpse into their inner financial lives — how much they’re making, spending, saving, and investing.

Leave a Reply

Your email address will not be published.