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How to Save Money on a Low Income in 2025 (Ghana Edition)

Mischief

 


Let’s be honest — saving money in Ghana isn’t easy, especially when your income barely covers food, transport, and airtime. But no matter how small your earnings are, there’s always a way to save something and build a better future.


In 2025, prices are up, fuel is expensive, and food keeps getting costlier. But with the right mindset and a few smart tricks, you can outsmart the economy and still save on a low income.


Here’s how.



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1. Know Where Your Money Goes


Start by tracking your spending. Every cedi counts.


For one full week, write down:


How much you spend on food


How often you buy airtime/data


Hidden expenses (like momo transfer fees, snacks, etc.)



Use a notebook, spreadsheet, or mobile app like:


Money Manager


Wallet


Excel



👉 This will open your eyes to where your money is leaking.



---


2. Set a Monthly Budget and Stick to It


Once you know where your money goes, create a realistic budget based on your income. Break it into simple categories like:


Essentials (food, rent, transport)


Airtime/Data


Emergency/Savings


Personal spending



Even if you earn GHS 400–800/month, budgeting gives you control and direction.


Use the 70/20/10 method:


70% for needs


20% for savings


10% for wants




---


3. Start with Micro-Saving (As Low as GHS 1/Day)


Forget about saving GHS 200 at once. Start small.


Try saving:


GHS 1/day (that’s GHS 30/month)


GHS 5 every time you receive momo


All your coins or "change" from shopping



Create a “no-touch” savings account or use:


PiggyVest


MTN Y’ello Save


A susu box or envelope method



Small savings grow faster than you think when you’re consistent.



---


4. Cook at Home More Often


Eating outside every day drains your wallet. GHS 10 a day = GHS 300/month.


If you cook your own food:


You spend less


You eat healthier


You save massively



Buy items in bulk (rice, oil, tomatoes) and plan weekly meals.



---


5. Cut Out Unnecessary Subscriptions & Habits


Ask yourself:


Do I need 3 streaming services?


Can I reduce data usage?


Do I impulse-buy airtime when bored?



Delete or limit things that silently eat your money.


Instead of watching Netflix every day, consider free alternatives like:


YouTube documentaries


Free podcasts


Reading blogs




---


6. Use Public Transport Wisely


If you live in Accra or Kumasi, transportation is a big cost. To save:


Walk short distances instead of taking trotros


Plan errands to reduce repeat trips


Carpool when possible



👉 Transportation eats more than 20% of income for most low earners — reduce it and see a big difference.



---


7. Say NO Without Guilt


In Ghana, you’re often expected to “show up” — weddings, funerals, donations, friends asking for “urgent” momo.


But if your income is low, you must learn to say NO politely.


Create a monthly “social budget.” Once it’s finished, don’t spend more — even if you feel pressure.


You are not stingy. You are focused.



---


8. Buy Second-Hand or Bargain Smartly


Don’t chase “brand new” everything. Thrift (obroni wawu) clothes, refurbished phones, or slightly-used items are often just as good — for less.


Learn to:


Compare prices


Ask for discounts


Buy in cheaper markets (like Madina, Kaneshie, or Kumasi Central)




---


9. Use Rewards, Cashback, and Loyalty Offers


Some mobile money platforms and apps offer rewards:


Free airtime when you top up through an app


Cashback on purchases


Points for loyalty



Example: Some banks and mobile apps give bonuses for saving consistently.


Always ask, “How can I earn more or spend less from this service?”



---


10. Increase Your Income Gradually


If your income is truly too low to save anything, try adding a small side hustle:


Sell something online


Offer a service (typing, cleaning, tutoring)


Resell data/airtime


Freelance online (writing, design, social media)



Even GHS 100/month extra can change your savings story.



---


💬 Final Thoughts


Saving money on a low income isn’t about being perfect — it’s about being intentional.


It’s not about how much you earn — it’s about how you manage it. Start small. Build the habit. The key is consistency, not the amount.


Don’t wait until you're rich. Saving starts now.



---


📸 Suggested Image:


Search “Ghanaian saving money” or “budgeting in Africa” on Pexels



---


🏷️ Suggested Blogger Tags:


save money, low income, budgeting tips, personal finance, Ghana money advice, frugal living


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