Episode #10, 17 July 2022

Faisal’s key points:

  1. Writing things down.
  2. The journey of a 1000 miles begins with the first step. 3. Everything takes time
  3. You are entitled to nothing
  4. One Major Task and Two Minor Tasks
  5. Document your progress
  6. Take time out to read.

Faizan’s key points:

  1. Set goals. You cant win at what you cant measure.
  2. Learn to get bored. Delay gratification.
  3. Learn personal finances
  4. Do what you can with what you have where u are
  5. All of life is the study of attention; where your attention goes, your life follows.
  6. Resist the temptation to clear up small things first. Do the big hard stuff first.
  7. Learn to say  No.

Plenty of discussion around knowing your own short comings, not letting people take advantage of your time, pay walling others from picking your brain & the power of notes.

Of real importance to Faisal and my self the issue of every one knowing their finances/budgeting etc and most particularly girls and women. Heres a thread on the subject from some time ago.

Normalize opening bank accounts for all the women around you(wives mothers sisters daughters).Joint if they want or individual if they don't. End of your life shouldn't mean end of theirs just because of un managed banking & lack of access. It's upon all of us to make sure

For a certain class of folks this may be normal but for most it's not. The only way banks win is if more women have check books, atm cards and don't need a husband or brother or father to open their first account. Banks are notoriously dumb when it comes to a new account.

We need to decouple access to an account from access to a man. Try opening an account for a home maker, u will be asked for a husband's salary certificate? WTF?  Try opening an account for a woman who makes under 25k in the un organized work force. Near impossible.Before fintechs

We need common sense techs aka some non risk management idiot to think through what inclusion means. If we add more women to the risk side of banks.Banks would do better at large & inclusion won't be a party banks throw with pink balloons at year end and invite token female peers.

Financial literacy should be taught to bank Ceos vs people on the street along with inclusion, before they all start talking about digitization and being tech companies.They need to be more human first. All the folks jumping in banking-app commercials are not the 1s that need it.

In short. We have a financial literacy problem but it's the other way around, banks need to educate them selves build better and modern processes to on-board new users and user journeys, strengthen their controls vs making their walls higher.Women are,what will can & should drive.

Inclusion, growth, access and a brighter future if only banks understood & truly wanted to serve a grossly undeserved market. It can start tomorrow. For every male customer that lists a spouse who doesn't have an account let them be your first new empowered customer. It's a start

It doesn't have to be the only one but for all the lazy & fat banks who don't have to work hard it's a surefire way to do good. Govt to make it mandatory to give girls a sim connected account @ 16.  

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