Washington, Lincoln and especially Benjamin are the life of the party when all dressed up in their green cash suits. They provide the foods we eat, the clothes we wear, and the pillows we lay our heads on at night. Their presence brings us great joy and their absence breaks our heart in times of rainy days, retirement and medical emergencies.
When the Presidents aren’t around, plastic dollar bills can be dream makers and lifesavers. But they can also seduce and drown us with things that are “cool” “a good deal” or “awesome!”
We know that money can’t buy happiness, but it can definitely rent a smile. So where do we find the guidance and self-control to manage our finances before they manage us? Where do we find the strength?
My brother, Joey Couvillon is an Executive Vice President at Vermilion Bank in Kaplan. His financial credentials include twenty-eight years of experience in the lending industry and a degree from the LSU Graduate School of Banking.
“The hardest part of my job is staying up with federal regulations and compliance issues,” says Joey. “The best part is being able to help people buy their first car or home.”
Joey says that the first place to start when managing money is to make a budget and set financial goals. Each year, he and his wife, Rhonda discuss what they want and need, and then save accordingly. They try to avoid the instant gratification of credit.
“One of the easiest ways to save money is to have it automatically transferred from your checking to savings account each month,” says Joey. “I suggest putting aside at least five percent of your salary for retirement or a child’s education. Rhonda and I have two kids in college now, and I’m so thankful that we started planning for it as soon as they were born.”
According to Joey, someone interested in purchasing a home should have at least ten percent of the total price for a down payment. When visiting the bank for the first time, a customer should bring proof of income, and information about the house they are interested in purchasing.
“The bank will get an appraisal on the home and pull a credit report on the customer,” says Joey. “If someone would like to buy a house but is unsure of what they can afford, I can help them figure it out.”
Managing money has never been my forte, so I’ve often turned to Joey for advice. He always explained my options in a way that made my choices and decisions clearer and less intimidating. More importantly, he gained my trust because he really wanted to help me accomplish my financial goals.
“Where do you get the strength to manage your finances so you can plan for the future but still enjoy the present?” I asked Joey on the night I interviewed him.
“Rhonda and I both disciplined ourselves at an early age,” said Joey. “Its something that was instilled in us by our parents. If I can’t afford a big truck, then I get a small truck.”
I’m currently re-evaluating my own financial situation and making adjustments to attain goals. I’ve paid the penalties for instant gratification, but have learned a priceless lesson from my brother.
Being aware of my finances and sticking to a budget is half the battle of keeping the green-suited Presidents by my side. Practicing self-control will ensure that they stay close and provide for me. Once again, Joey’s advice made planning my future clearer. Once again, his genuine desire to help me accomplish my goals, brought me strength.
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