Economist Dr. Evans Nunoo, said it does not make economic sense for people who earn between GH¢1,000 and GH¢2,000 to take tea, bread with eggs and salad.
January, the first month of the year, is often observed as a difficult period in relation to personal financial management.
The current unstable economic environment makes the situation even more troublesome.
In order to effectively manage the current financial situation, consumers are encouraged to evaluate their assets and liabilities to purchase information.
Dr. Evans Nunoo, gave advice when speaking with David Akuetteh on Luv-in-the-morning.
The topic was ‘how to live with a salary of GH¢1,000 to GH¢2000’.
“Two thousand Ghana cedis is a small amount, if you look at our current economic situation. If you have to pay school fees and other bills. If you are young and haven’t started a family yet, 2000 cedis might be okay. Even if you want more.
“But if you’re a family person, you don’t have the luxury of drinking tea and bread with eggs and milk. It’s very complex. Some even add salad,” he said.
Dr. Nunoo also advises on multiple bank accounts for expenses and projects.
“If you expect a variety of income, you will be tempted to have another bank account. If you want to work hard and be financially strategic, it is better to keep more than one bank account. Unlike, if you have only one bank account, you make a mistake or don’t work hard.
Source: independent
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