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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

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    GHASALC laments drop on number of digital transactions following e-levy

    Italy’s top producers of agro-tech products explore opportunities in Ghana

    Gov’t to commence talks with IMF for bailout

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Money Wisdom Series: Improving your financial situation in 2020

May 22, 2020
in FEATURES, Top Stories
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For many Ghanaians, financial concerns are a regular source of anxiety, which is understandable given the uncertainties of today’s economy.

Majority of Ghanaians go through financial stress each passing day and this affects their decision making and even their health. It’s important to remember that worry doesn’t solve much, but answering the question of how to overcome financial problems does.

This is the more reason why J.J. AFOLABI has decided to use the MONEY WISDOM SERIES to educate and provide the tools & resources you need to make sound financial decisions for a comfortable life.

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HOW DO YOU IMPROVE

Understanding that you are not the first person going through though financial situation, and you certainly won’t be the last if you so wish with determination, and being focus and making the right decision is key to improving your situation. Being discipline, committed and with a little planning, you can always improve your financial situation and begin some savings and tangible investments now.

People are mostly caught up with a situation where they spend more than all the income they make or salary as a result of unexpected expenditure, impulse buying and emergencies. Whatever the case may be, you need to have a positive mindset in dealing with the situation.

DEBT MANAGEMENT

Too many people think you can buy now and pay later. That isn’t true. I’ve found that easy credit now makes people uneasy later. Usually a person pays more for the use of borrowed money than he gets in interest for saving it.

Every little debt must be managed well so it doesn’t get out of control. In the same way if your debt is large you must put in extra effort in paying it. Make sure you keep up the payment irrespective of how small the amount you can pay is just keep paying.

KNOW YOUR DEBT

• List all the debts you owe
• Make sure you know the amount you owe and the due date of payment
• Keep track of all payments you make at each month end
• Refer and review your debts list periodically

SET REALISTIC PERIODIC GOALS

It is very important to set very realistic goals for yourself each time to keep you focused. Most people do not set financial goals but rather make a New Year resolution for things they wish to achieve which is very good. My question to them is, how do you achieve all the New Year goals when you do not have a financial plan or strategy as to how to get the resolution into reality? Setting very achievable realistic goals each time is a catalyst to your financial freedom and this must be reviewed every time when possible to ensure that you are making progress irrespective of how insignificant it may be. Keep it in mind that it is doable and you can do it.

WORK WORK WORK!!!!!!

One of the most effective ways of improving your financial situation is to reduce your WANT expenditure and adding on more work that can earn you extra income. Your daunting financial situation cannot improve when you have not changed your spending lifestyle, make it a must to discipline yourself to stay within your budget and look for ideas that when implemented can earn you some extra income. If others have been able to do it, you can also make it happen.

Use a monthly budget to plan your expenses

• Keeping a budget helps ensure you have enough money to cover your monthly expenses each month.
• Plan far in advance and you can take early action if it looks like you won’t have enough money for your monthly expenses this month or next.
• A budget also helps you plan to spend any extra money you have left after expenses are covered. You can use this extra money to pay off debt faster.
• Reduce the WANT budget if you need more money to offset your debts for a particular month.
• Stay focus on your expenditure and monitor financial happenings in the country.

–

©Jerry.J.Afolabi, unlike others is passionate about financial education, independence and financial freedom. He is approachable, provides one on one client engagement and genuinely interested in helping people to take control of their own finances.

Please kindly use the links below to follow my page on FACEBOOK and YOUTUBE channel for more MoneyTalk and Videos. WhatsApp # +233541238987
https://www.facebook.com/Jerry-JAfolabi-107737420863286/
https://www.youtube.com/channel/UCz4Wrr3FkmnVrL3V1R44Y0w

Source: Jerry.J.Afolabi
Tags: Jerry J. Afolabimoney
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