Being down to her last dollar gave finance exec lasting savings lesson

She now prioritises budgeting, planning and investing in appreciating assets

- Sue-Ann Tan

Realising that there is no money to even buy food is a nightmare – one that Ms Daphne Tan faced when she was an undergraduate in Australia.

She says she had poor saving habits then, even though she was making some money with part-time gigs at a cafe, Italian restaurant and bakery.

“One cold night in Melbourne, I found myself unable to withdraw money from an ATM to even buy food,” she recalls.

“This incident remains a core memory for me, and taught me the importance of financial planning and saving. Today, I maintain a more conservative approach to budgeting and saving, prioritising future planning and investing in appreciating assets over discretionary spending,” she says.

Those lessons stuck with her, and Ms Tan, 35, gets to apply some of them in her role as director of business development at CMC Markets Singapore.

The path to finance was a jagged one, something she arrived at after trying her hand at various roles, including being an aspiring pastry chef.

She spent six months working as a baker at the age of 24, which she said was challenging because she was not fast enough for the job.

“There is a significant difference between home baking, which I did for personal enjoyment, and working in a production-line bakery where speed and efficiency are essential,” she said.

“While I gained valuable lessons from the experience, I did not find the work particularly fulfilling, and after six months, I chose to stop baking so that I could explore other interests. The experience helped me understand the importance of efficiency and processes – lessons that continue to benefit me in my career today.”

Despite not having a formal education or degree in finance, Ms Tan said a friend encouraged her to try for CMC Markets, an online financial trading business that was built on offering contracts for difference. Its parent company is listed on the London Stock Exchange.