Dealing with financial setbacks can feel like a long, slow, crawl through the mud. It can be emotionally and physically draining, especially when tough choices are made between paying a bill or buying food.

As we wrap up our budgeting series for Between the Ts, we sit down once again with Blake Bradshaw and Rachelle Carter to discuss practical methods for dealing with overwhelming debt loads and developing an effective path to financial stability.

If you have ideas for future show topics, please let us know in the comments.

What do we do when we face a financial emergency? Whether it is the result of a pandemic, job loss, medical expense, home repair, or some other unexpected event, the way we manage our money now can affect how well we make it through a financial crisis.

Just as doctors use “triage” to prioritize the treatment of life threatening wounds over scrapes and bruises, we can use a similar “triage” approach to managing our money by defining clear priorities with our spending.

In this episode, we discuss some things to consider when preparing our finances for the unexpected.

Would you trust a contractor to build your dream home if he said he would figure out the floorplan as he goes? Or would you expect a detailed blueprint that describes where every element of the house will be placed? Shouldn’t we expect the same type of planning when it comes to our money?

Surprisingly, studies show that many Americans live paycheck-to-paycheck with very little saved for emergencies. Even among those who use a budget, many admit to overspending and not sticking to the plan they made.

Do NOT let the concept of a budget feel like handcuffs or a list of rules that rein in your ability to enjoy life. Instead, think of a budget like a blueprint that actually give you permission to enjoy life within your means by making sure you plan for the most important things first. 

In this conversation, BTT Host Aaron May sits down with co-host Blake Bradshaw and guest Rachelle Carter to discuss the common myths about budgeting and a method for creating an effective financial plan that puts you in control of your money. 

A common misconception is that estate plans are only for the super wealthy with a ton of assets. Another misconception is estate plans are only for older individuals who are retired and nearing the end of life. The truth, however, may surprise you.

Even young adults can benefit from an estate plan because the documents it contains can give directions for your care during a medical crisis, as well as provide instructions for who will care for minor children in the event of your death.

In this episode, we sat down with TBT Wealth Management Director Craig Chaikin to discuss what we need to do to prepare for the unexpected and how we can ensure our wishes are fulfilled if something happens to us.

Note: The information discussed in this podcast is for informational and educational purposes only. Please speak with a licensed professional about your specific situation.

Investment products offered by TBT Wealth Management are not deposits or obligations of Texas Bank and Trust, not guaranteed by Texas Bank and Trust, not insured by any federal government agency, and may go down in value.