Students also need to learn about money habits – even before they secure their first jobs. Having simple pocket tips about what to do and what not to do with money, business opportunities and wealth, first starts with the right mindset and practice.

Because let’s face it — being broke as a student is expected, but being transitioning into the workspace and remaining broke as an adult hits differently.

Now here are 7 money habits every student should adopt — whether you’re in Senior High, Level 100 or about to graduate from the university.

1. Track Every Cedi 

The idea of not knowing where your money goes is definitely not cool. One minute you have GH₵500 and three days later, after interco or hall week, you’re wondering “what happened?”

To stay ahead of your money game, you need to start tracking every pesewa you spend – and not in your head — on paper or an app. List what money came in (income) – chop money, allowance or momo gifts, and every single thing you spend on (expense) – food, data, Uber, and that last minute indomie you bought.

Yes! It’s boring at first, but give it time and you’ll be relieved to see the patterns in your spending so you can start budgeting well or just appreciate knowing

2. Define your “Needs” first, before “Wants”

Let’s be real: buying airtime to watch netflix is not a need when you haven’t eaten yet. Neither is getting your nails done or buying a large pizza . As a student your “needs” would be food, hostel dues, transport, and data and printing for assignments and “wants”: shawarma, random online shopping, glow oils and sneakers.

No one is saying you should suffer — but know where to cut back when money gets tight. Before you buy anything, make sure to ask yourself – is this really a need?

3. Save a little of your “Chop Money” 

You don’t have to be rich to save. In fact, the best savers are people who learned how to save small, yet consistently.

Let’s say your parents send you GH₵250 a month. Try saving GH₵20 out of that – as an emergency income when you’re stranded.

Also, try using mobile money saving features like MTN’s MoMo Save or try the IC Wealth and Achieve app if you want some interest on your money. with more features.

The idea isn’t to save for big dreams yet — it’s to practice the habit. Learn to delay gratification, even for five cedis, and your future self will thank you.

4. Don’t Depend on Loans or Gambling

Seeking out loans or gambling your last money away is a trap that never ends. Many students may think, using emergency borrowing culture or betting will keep you afloat. If you borrow GH₵300 from your roommate for food, ₵100 from loan apps, know that you will pay it out of pocket, plus interest when the time comes. Also betting the small money you have left and losing it — will definitely leave you desperate to borrow.

If you’re constantly borrowing, the issue isn’t the money — it’s your bad money habits. Learn to cut back or save the little you have, whenever you can and see your life improve outside of debt as a student and as an adult. 

5. Get a Side Hustle 

Yes, students are not liable to only school work. Reorganising yourself and cutting back on scrolling TikTok for 2 hours or binge watching 3 episodes of Love Island/ Vikings to tutor, usher or work on your thrift business can allow you you earn something small to support yourself in school

And not all business you venture into as a student has to do with Academia, start doing content creation, voiceovers for brands or even managing an Instagram page for someone, can fetch you GH₵500/month or more.

That amount can become your support income for data + emergency lunch or your savings.

6. Invest money left over after school

Sometimes after school, we have enough money left on us. This is not the time to splurge all you gained after the school period ends – watch more videos about investment opportunities in Ghana and get right into it.

Buying shares, fixed deposits or bonds has no age restrictions. Just set up with your bank and let them do the rest on your behalf. Investing and watching your little money compound can be a good teaching moment for you as a student.

7. Learn No I Can’t Afford this 

Normalize saying no. Sometimes your friend group is keeping you broke. Going out to every new restaurant that pops out near you or buying the next trendy attire is not it. Not every “let’s buy drinks” should excite you — it’s okay to say “I’m not joining this one.”

You’re not stingy, it’s just you prioritizing your long-term peace over one-night pressure from friends. Focus on your lane.

Being a student is one of the few times in life when you’re allowed to make money mistakes without lasting damage — use that to your advantage. Try budgeting. Try saving. Try earning more. Even as a learning curve for later.

Start early enough and have a better money mindset that sets you up for a soft life later as an adult.