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Let’s be honest: many of us have flirted with that shiny yellow “QwikLoan” button on MTN MoMo. One minute you’re broke on a Thursday afternoon, the next you’re thinking, “Herh, let me just borrow 200 cedis; I’ll pay next week.” Before you know it, you’re dodging deductions like Ronaldo dodges defenders in the Champions League.
The truth? These loans are like that toxic ex – sweet and exciting in the beginning, but always leaving you more broke, stressed, and wondering why you ever went back.
They don’t solve your financial problems; they simply press “pause” on them, only for reality to hit harder later.
Unless you want to spend your adult life trapped in an endless loop of borrowing and repaying, it’s time to master the art of surviving and even thriving in Ghana the smart way.
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So how do you pull it off without owing MTN or that mysterious Fido guy? Let’s break it down.
1. Budget Like You’re Managing Kotoko vs Hearts Gate Fees
Ghanaians can plan a whole funeral budget down to the last bottle of Guinness, but when it comes to daily expenses, suddenly we “forget”. Start treating your money the way event organisers treat ticket sales — every cedi must be accounted for, every pesewa must have a role. A simple notebook, Excel sheet, or even a notes app can save you from plenty of wahala.
2. Save Small-Small, Every Day
You don’t need to be Dangote to save. Even GHS 5 a day in a susu box can add up faster than you think. By Christmas, you’ll shock yourself with the amount sitting there. Pro tip: move the money out of sight (and out of MoMo before you press “buy data” by mistake). The key is consistency, not size — small drops really do fill the bucket.
3. Side Hustle Is the New National Service
From thrift clothing sales at Circle to weekend jollof orders, everybody’s hustling. If your salary alone can’t stretch, find a skill and monetise it before the bills swallow you. Don’t be shy — the girl selling wigs on IG is probably making more profit than your corporate tie. In Ghana today, the side hustle is not an option; it’s survival 101.
READ ALSO: Business Ideas for Women Entrepreneurs in 2025: 10 Powerful Ventures to Start
4. Live Within Your Means (Yes, That Means No iPhone 15 on Credit)
If you earn like trotro money, stop living like Uber. Share rooms to cut rent, buy in bulk at Makola instead of picking one tomato at a time, and jump on “waakye joint” specials instead of KFC combos every weekend. Humble beginnings never killed anybody, but fake lifestyles have dragged plenty of people into endless debt.
5. Build Your Support Squad
Instead of giving MTN your coins, join a susu group or “nnoboa” savings circle with people you trust. When it’s your turn to cash out, you’ll thank yourself. Plus, friends don’t charge 15% interest — at worst, they’ll just tease you forever. A strong support system will save you in ways a quick loan app never will.
6. Emergency Fund: Your Real Best Friend
Imagine you’re at the hospital and your MoMo balance is crying louder than the patient. If you had even one month’s expenses saved, you wouldn’t need to summon QwikLoan like a spiritual backup. Start small — even GHS 50 monthly can build that safety net. It’s the difference between panicking and sleeping peacefully.
READ MORE: 8 MoMo fraud tactics in 2025: What to watch out for
7. Practise the Holy Art of Waiting
Impulse is the devil. Before you borrow just to flex with new sneakers or “drop” at Bloom Bar, ask yourself: Do I really need this, or can I chill small? Sometimes the answer is peace of mind. Learning to wait a few weeks for a purchase can save you from months of financial headache.
8. Understand the Trap
Quick loans aren’t evil, but they’re designed to keep you coming back like a favourite TV series. Borrow GHS 100 today, pay back GHS 115 tomorrow, and soon you’re in a hamster wheel you can’t escape. Once you do the maths properly, you’ll see why escaping this cycle is the ultimate soft life.
9. Learn the Art of Swapping and Sharing
Instead of buying new clothes or gadgets, swap with friends or family. A dress you’re tired of could be brand-new to someone else. This works for books, electronics, even kitchenware — it’s savings without sacrifice.
READ FURTHER: 9 steps to take if fraudsters steal your MoMo
10. Reduce the “Soft Life” Temptations
If you’re serious about saving, you need to limit those “just small enjoyment” outings. Cancel unnecessary subscriptions, cook more at home, and find cheaper forms of entertainment. Netflix is cheaper than Bloom Bar every Friday.
11. Master the ‘Bulk Buy & Store’ Technique
Buy non-perishable items like rice, gari, tinned tomatoes, and oil in bulk when prices are low. Keep them in airtight containers, and you’ll save yourself from paying inflated market prices every week.
12. Turn Skills into Cash
Learn a profitable skill — hair braiding, photography, repairs, baking — and use weekends to earn extra. In this economy, skills are better than CVs when it comes to quick money.