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Avoid tea, bread with eggs and salad if your salary is less than GH¢2K – Economist advises

He said this among other things while speaking to David Akuetteh on Luv-in-the-morning on Kumasi-based Luv FM.

“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 a young person yet to start a family, 2000 cedis might be okay. Though you may want more.

“But if you are a family person, you don’t have the luxury of drinking tea and bread with eggs and milk. It’s too complex. Some of them even add salad,” quotes Dr Nunoo as saying.

He was speaking on the topic ‘how to survive on a salary of GH¢1,000 to GH¢2000’ when he gave the advice.

Aside from January being perceived to be longer than other months due to excessive expenditure during the Christmas and new year festivities, the year 2023 is an extraordinary one which inherited severe hardship and a high cost of living from the previous year. To survive amidst all these, Dr Nunoo said frugality must be the guiding principle.

“You should not spend because you want someone to see you as a good person. You should not spend just so people will see you are of a certain social standing. You don’t spend because others are spending.”

Ghanaians are battling with the excruciating effects of the economic crisis, with some even losing their life savings and investments due to the government’s domestic debt exchange which forms part of a debt restructuring to pave way for a three-billion-dollar bailout from the International Monetary Fund (IMF).

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