Pocket Money Wisdom: A Beginner’s Guide to Financial Freedom – Part 4

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 Budgeting Like a Boss (Even with Small Income)

Coach Georgiho De Don 


When you hear the word budgeting, what comes to mind? For many people, it sounds stressful, boring, or like something only “big men” with plenty of money should do. But here’s the truth: budgeting is for everyone, especially if your income is small.


A budget isn’t about suffering or denying yourself. It’s simply a plan for your money. If you don’t tell your money where to go, it will disappear — and you’ll be left wondering, “Ei, where did all my salary vanish to?”



Why Budgeting Matters in Ghana

Life is expensive — from rising transport fares to rent increases and “emergency” requests from relatives. Without a budget, your money controls you. With a budget, you control your money.

Even if you earn GHS 300 a month, you can still budget. It’s not about how much you earn; it’s about how wisely you use it.

The Ghana-Style 60/30/10 Method

Here’s a simple method you can start using right away:

☝️60% Needs → Food, rent, light bills, transport, school fees


☝️30% Wants → Entertainment, clothes, eating out, non-essentials


☝️10% Savings/Investment → Emergency fund, susu, mobile wallet, or T-bills


Example: If you earn GHS 500 a month:

Needs = GHS 300

Wants = GHS 150

Savings = GHS 50

It’s not perfect for everyone, but it’s a practical guide to start controlling your money.


How to Stick to a Budget

1. Write it down – Don’t keep it in your head. Use a notebook, your phone, or an app.


2. Track daily expenses – Even “small small” momo fees add up.


3. Be realistic – Don’t budget GHS 50 for food when you know you spend GHS 200.


4. Adjust monthly – Prices rise, needs change — your budget should too.


Your Action Step

Create your own budget today. Even if it’s just a list of income and expenses on paper, that’s your first step to financial control.


👉 Bonus: I’ll be sharing a free Budget Planner Sheet you can download and use.


Final 💭 

Budgeting is not punishment — it’s empowerment. It helps you see clearly, avoid waste, and plan for the future. Remember: if you don’t budget, your money will budget itself — and usually, not in your favor.


📢 Next in the series:

In Part 5 – Saving is a Skill: Here’s How to Master It, we’ll dive into the different ways to save in Ghana, why consistency matters more than the amount, and how to build your emergency fund.

Do you think budgeting is for the rich people? Comment....

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