It is no secret that times are hard in Ghana, especially since the country is now considered as one of the most expensive countries to live in around the world.
In fact, a recent survey by MoveHub, a UK-based relocation agency, had Ghana emerging as the country with the highest cost of living in Africa.
It is therefore no exaggeration that anyone living in Ghana needs to be very careful with his or her expenditure.
Of course, there are some who can afford to spend as much as they want and still live comfortably.
But for the average people, there is always the need to find ways and means to minimize their spending.
If you are one of those looking to spend as less as you can, these tips from YEN.com.gh should serve as a good start.
1. Cut down on transport expenditure:
For those of us who can afford cars, it is advisable that you buy smaller cars with less fuel consumption for your daily commute.
SUVs and such 'big' cars may be nice to cruise in but it comes with a cost and do not forget that the ultimate point of owning a car is for moving about easily. So, if a small car can do that with a minimal effect on your pocket, why go for a bigger and expensive option?
And for those who cannot afford owning their own cars, you will be better off with public transport.
There is always the temptation to pick 'Uber' or 'dropping', as chartered taxis are commonly referred to. But most of the times, those options end up getting stuck in traffic and delaying your schedule just as the 'trotros' do.
So the thing here is, set out early for any appointment, pick public transport in order to save as much as you can. And even those who have cars can try this and see how much they will end up saving.
2. Walking and biking:
Alternatively, if you want to be frugal with your spending, you can rely on bicycle riding as your means of transport and even walking, when the distance is not too long.
Here, you will not be only saving money but also having some much needed exercise which will in the long run add to your savings by way of you not frequenting hospitals.
3. Prepare your own meals:
If not for our stomachs, everybody would have probably been rich. A lot of the expenditure humans make goes into food and beverages.
But we all know eating out is often more expensive than home-cooked meals and you will spend not less than 30 cedis on a decent 'out of the house' meal in Ghana
It will, therefore, do your pocket a lot of good to have your food, especially breakfast and lunch, prepared at home so you do not go about buying expensive food from restaurants and food joints.
4. Capitalise on network promotions (Call and data bundles):
For the average Ghanaian, using a mobile phone has become a necessity. And once you use a phone, you will need to buy credit either for call time or internet data.
Here, one needs to capitalize on the many promotions the operators offer in order not to overspend on phone credit and if you are adept at it, you can go a whole month without really spending any money to buy credit after you bundle.
5. Run errands in batches:
Instead of running to town every now and then on errands, you need to put the errands together and do them at the most convenient time, once and for all.
Also take advantage of online payment platforms to pay ECG, Ghana Water and other such bills. This will save you from spending money and time.
So there you have them. If you go by these tips very diligently, it may not be surprising that you may end spending less than GHC10 daily, on the average.
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