Dr. Evans Nunoo, an economist, says that if you make between GH1,000 and GH2,000, it doesn't make economic sense to eat tea, bread with eggs, and salad.
January, the first month of the year, is often seen as a hard time for people to manage their money.
The situation is bad because the economy is unstable right now.
Consumers are told to look at their assets and debts so they can make purchases that are best for their current financial situation.
Dr. Evans Nunoo gave this advice when he was on Luv-in-the-morning with David Akuetteh.
"When you look at how our economy is right now, 2,000 Ghana cedis is not much. If you need to pay for school and have other bills to pay. If you are young and don't have kids yet, 2000 cedis might be enough. You may want more, though.
"But if you have a family, you don't have the time or money to drink tea with bread and eggs and milk. It's too hard to do. He said, "Some of them even add salad."
Dr. Nunoo also gave advice on how to use different bank accounts for different projects and spending.
"If you expect to get money from more than one source, you might be tempted to open more bank accounts. It's better to have more than one bank account if you want to work harder and plan your money better. It's not like you're making a mistake or not working hard if you only have one bank account.
Economists say that people shouldn't pay off more than 50% of their monthly income on debt.
Almost every Ghanaian is in debt in some way.
But many people wonder how much of their income they should use to pay off credit cards, car loans, student loans, or mortgages.
Most of the time, the best thing to do is pay as much as you can each month on top of the loan's minimum payment. This can help get the debt paid off faster.
Dr. Evans Nunoo also talked about what he thought were unnecessary costs for the year 2023.
"You shouldn't spend money just so people will think you're a good person. You shouldn't spend money just to show that you belong to a certain group. He said, "You don't spend just because other people are spending."