Who knew an emergency fund could save your life not once, but twice! So is the story of Kate Dore from Cashville Skyline which she shared in full detail for this episode of the podcast.
Talk about someone who turned lemons into lemonade! Most people would begrudge their bad luck when faced with two layoffs in 10 years, but not Kate. Instead of complaining or just struggling through it all, she took it as a big lesson in becoming financially prepared. Which later turned out to be her big passion, which is why she’s now on the road to becoming a financial planner.
If there’s only one thing you can take away from this episode, it’s this – life happens, so have an emergency fund just in case. I’ve certainly been thankful for mine on more than one occasion in my life, that’s for sure. Not only that, having an emergency fund is hands down the first thing I tell people to set up as they start their personal finance journey. It may not be fun or sexy, but having one will literally save your life!
I’m excited to see where Kate ends up after becoming a full-fledged Certified Financial Planner, but until then it looks like she’s been busy the past few months creating some great blog posts and personal finance courses. I’ve linked them below so you can check them out.
Join Me on the Self Worth to Net Worth Challenge!
Also, as I mentioned, myself, Sarah Li Cain from High Fiving Dollars and Tara Falcone from ReisUP have come together to create a unique 21-day challenge to combine our expertises in money mindsets, budgeting and investing. You’ll get an email once a day for 21 days giving you a full outline on what you need to do to feel empowered about your money and take action!
So Are Canadian Financial Advisors Fiduciaries?
Kate mentioned that in the US, financial advisors aren’t all fiduciaries, to which she asked if they were all fiduciaries in Canada. I’m going to be writing about this very soon, but as a simple answer no — not all Canadian financial advisors are fiduciaries. For more info on that, check out this report by the Investment Funds Institute of Canada.
Helpful Resources by Kate
- Free Budget Makeover Mini-Course
- Destroy Your Debt: Take Control of Your Financial Life Course
- Side Hustle Your Way Out of Debt Course
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