Trusted Tips and Resources

Trusted Tips & Resources

Chris Worby a Trusted Regina Financial Expert talks about Using a Safety Net:

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a plan that is tailored to your specific needs and based on your individual situation.

Let Trusted Regina Financial Adisir Chris Worby of  Worby Wealth Management help you live your dream!


Using a Safety Net:

Worby Wealth Management a Trusted Regina Financial Consultant talks about your Emergency Fund.

Say in the same month you have your water heater go, your car needs $2500 worth of work and you have to take an emergency trip to see an ailing relative. Where is that money going to come from? Many people know we should save a few months’ worth of expenses for the ‘just in case’ times but very few people know how to.

• How much money should be in an emergency fund?

• How to build one

• How to use it for annual ‘fun’ items I’ve heard it said that you should have 3 to 6 months’ worth of expenses handy on a ‘just in case’ basis.

I generally think a dollar amount is a better idea. Think of how much makes sense for you but a good guideline is somewhere in the $10,000 to $15,000 range – that is enough money to deal with most household’s finances for a couple of months in the event of job loss or such but still allows for funds to go towards longer terms goals like retirement.

Building one can be difficult but really, the best way is to set up a high interest rate account separate from your regular chequing account and send money there from every paycheque. Now that you know what your goal amount is, you can target that and, if you want to go from $0 to $10,000 over the course of 4 years, it’s going to be $2500/yr or about $100/bi-weekly. It may take some time to build this up so I often recommend using tax returns or some other once a year source of funds like bonuses to get this done more quickly.

Finally, I get asked how to budget for an annual trip or some such pretty regularly – this fund can help. Say it’s established and you are ticking along just fine at around $12,000 and you have decided this is good for your household. Once that fund gets above that amount, you have spending money! Say you want to take the family to Mexico during the winter every now and then, whenever you have $17,000 (if it costs $5000), you are free to go. Emergency funds, they are helpful and very few people have them. Give me a call or email and we can figure out how to get one up and running for you.

 

Chris Worby is a Trusted Regina financial advisor and Wealth Management consultant servicing local Regina households and businesses since 2001.

  


 

Some of the services that Worby Wealth Management can help you with: 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!


Chris Worby a Trusted Regina Financial Expert from Worby Wealth Management talks about Being Happy with your Money

Finding the shortest and safest route to any of your dreams requires planning and only with a carefully thought out financial plan can you be sure to make the most of your resources and to protect against risks along the way. At Worby Wealth Management, Chris will do his best to help you achieve those dreams with a plan that is tailored to your specific needs and based on your individual situation.

Let Trusted Regina Financial Adisir Chris Worby of  Worby Wealth Management help you live your dream!

Get Happy with your Money! 

I talk with a lot of people about their finances – a lot – and if there’s anything I have learned it is that people are not happy with their money. They feel guilty about their spending and savings habits, feel they need to justify purchases and always end the month without.

Mike Rowe, host of ‘Dirty Jobs’ answered this to someone who was having a hard time finding a job they were ‘happy’ with:

Happiness doesn’t come from a job. It comes from knowing what you truly value, and behaving in a way that’s consistent with those beliefs.

Every household, no matter what stage of life – married, single, divorced, retired, etc – can benefit from considering their values as it relates to their finances, investing, goal setting, etc. Once the values have been established, the decisions become easy.

Let’s talk about these values for a few minutes. First, let’s talk about spending. If a household sat down and said, “We value being debt-free,” a number of decisions get really easy. “Should we buy a brand new car that will take us 8 years to pay off?” “Should we buy a brand new house with an accompanying $350,000 mortgage?” “Should we apply this work bonus to our mortgage using a pre-payment option?” Easy questions to answer once the household value is identified.

How about investing? “I value long term growth over safety and low volatility,” is a different statement from, “I value security in my investments.” Each of these investment statements means that many strategies are immediately eliminated and need never be considered again – how’s that for simplifying the decision-making process!

One of the issues here is that some values are ‘better’ than others – or so we think. There is no inherent benefit to valuing security overgrowth or vice versa. The important part is to follow your values so that your investment experience matches your values.

Values-based investing isn’t about the investment itself – it’s about you.

If you don’t know what your values are, contact me and we can figure it out together. 

Chris Worby is a Trusted Regina financial advisor and Wealth Management consultant servicing local Regina households and businesses since 2001.



Some of the services that Worby Wealth Management can help you with: 

TRUSTED REGINA FINANCIAL ADVISOR Chris Worby from Worby Wealth Management helps you live your dream!


Trusted Regina.com Directory Personal Finance Show on Talk to the Experts on Newstalk 980 CJME !

www.trustedregina.com is proud to be hosting a Talk to the Experts show " The Trusted Show' Every Month on Newstalk 980 listen to the previous shows here 

Novembers show features Chris Worby from Worby Wealth Management your Regina Financial Services expert  Trusted Regina Mortgage broker  and Stephen Barlow from Dusyk & Barlow Insurance your Trusted Regina Insurance expert joined Dave Arnold to chat about Trusted and to answer our Regina Facebook Fans  questions on PERSONAL FINANCES!

Listen to the  Show below ..send the link to your friends who missed the show or access all the Trusted shows on DEMAND on the Trusted Channel.  We are the only Regina directory that works for you!

Listen to hear who WON the prize package including an Apple TV, a $100 Gift Cert to CRAVE and a $100 Gift Certificate to Golfs Steak House

Part 1 - Sara the Trusted Founder tees up the show and Chris From Worby Wealth Management 

 

 

Stephen from Dusyk & Barlow makes Insurance FUN...and the winner of this weeks prize is drawn!!

 

  

 

Congrats to yet another Trusted Regina Facebook fan ..Dave picked your GREAT question and you win the great Prize package from the Trusted Regina Directory Experts!! It always pays to be a fan or a follower ( on twitter @Trustedcanada  ) of Trusted! Contests and things to be won all the time!

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