TUNDE OYEDOYIN
Tunde Oyedoyin is a London-based personal finance coach and founder of Money Intelligence Coaching Academy, a specialist academy of personal finance. He can be reached as follows: +447846089587 (WhatsApp only); E-mail: tu5oyed@gmail.com
While reading Sir Richard Branson’s autobiography a couple of years ago, he mentioned loving taking notes by scribbling things on his hand. That’s what keeping records is all about.
The serial entrepreneur said he obviously referred to those notes later in making decisions. The disclosure really made an impression.
Here’s the thing. Never ever underestimate the power of keeping your own records when it comes to personal finance. Whether you fancy scribbling things on the back of the hand like Branson or on the inside of your hand, keep your own records when dealing with money matters.
Now, hear this. A particular Friday in April was meant to be just another day at the office, but less than three hours after resumption, yours truly was tasked with working off site. As it turned out, the brief was to go to Charing Cross Hospital. I ended up spending at least five hours there.
But, boy oh boy! It was a good experience and the time was worth its weight in gold. As an aside, many thanks to the nurse who directed me to where their tea making machine was located. Had something for the throat after more than four hours of soaking in the happenings.
But several hours before asking the nurse where one could get tea or coffee, the first thing I noticed soon after walking through the hospital door was a policeman who had accompanied a woman to the hospital taking notes as she interviewed her. Yours truly wasn’t surprised that he later referred to that tiny notebook – that the Metropolitan Police officers tuck somewhere in their uniform – when transferring the woman’s case to one of the Triage nurses.
Guess what, though? It wasn’t just him who kept records. From my vantage position, I saw nurses taking notes as they spoke to patients brought in. Those notes became records for their colleagues, doctors and others, including radiographers. Interestingly, one of the doctors who had a conversation with me even took notes of what I had to say to her.
So, whether you fancy keeping records on your phone, or under your pillow, go for it. Just make sure you don’t rely on the other person or party to have records. As long as you’re dealing with issues of money with others, and it doesn’t matter whether it is of the fee to pay a lawyer or a service provider, keep your own records like those professionals did at the Accident and Emergency Ward.
Between bankruptcy and going to prison
Honesty, as they say, is the best policy. But wait for it. First things first.
As a fan of Boris Becker, I was truly happy with the report in a recent edition of Metro Newspaper that the former Wimbledon champion has been discharged from bankruptcy. Of course, he’s been through hell, having spent time in the then Her Majesty’s Prison.
According to the Metro of May 2, “Out..of bankruptcy! Ace Boris in crucial court win,”(p.5), “fallen tennis legend Boris Becker has had his bankruptcy ended – despite still owing around £42 million.”
The paper refreshed readers memories, noting that: the three-time Wimbledon champion was “jailed in 2022 for hiding assets.” But did you know that the German superstar could have saved himself the agony of being sent down if he had adhered to the “honesty is the best policy” saying?
In order words, if ever you’re faced with a choice of being honest with your creditors and hiding your assets, especially if you’ve been hauled before a judge, remember to adhere to the policy. In fact, in any money dealings, stick with it.
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