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 (WhatsApponly); E-mail: tu5oyed@gmail.com
One of the evergreen sayings that I grew up with in the fatherland was that “little drops of water make a mighty ocean.” While it might literally take forever for that to happen, the import of the adage makes a ton of sense and does have a lot of truism in personal finance.
While I’d not actually thought much of the adage, it turned out that as I was about hopping inside an elevator at Heathrow last October, a text message from First Bank popped up, showing a credit transaction.
Yours truly was definitely excited that something had hit his account. But before making my way to the departure hall for the flight, the excitement started becoming thin on reading the narration. That was because I was expecting more than the nearly five thousand naira that had accrued on the little fixed deposit that I’d asked the bank to stash away with other deposits in their vault. I hadn’t known an investor’s temporary remorse existed till then.
In fact, if only some fellow travellers had beamed their lasers on my eyes within that period, it’s possible they would have noticed a bit of dissatisfaction in the eyes of a not-too-happy investor. You can’t but burst into fits of laughter afterward.
But here’s the thing, several months later, that tiny bit of return is still dropping and rolling in. Thank you Lord. As someone said, little is better than nothing. All I’d done was leave the principal in their capable hands. Imagine the little drops over ten months. More than enough to offset the cost of the Ankara aso ebi that yours truly recently paid for to mark the funeral of a friend’s late mother.
So, if you fancy some little drops of water, go dump some money with your bank and don’t touch it for twelve. Even if all you can muster is a hundred thousand naira, just hand it over to your bank to keep.
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