Do you find yourself running out of money just days after payday?
If your salary disappears too quickly, you might be making some common financial mistakes. Here, Pulse Ghana explains five reasons why your money doesn’t last and what you can do to change that.
1. Impulse spending
Many people spend money on things they don’t really need as soon as they get paid.
Flash sales, online shopping, and last-minute treats can quickly drain your salary. You don’t always have to buy everything you see just because they look good.
Before making a purchase, ask yourself if it’s a necessity or just a passing desire. Creating a budget and sticking to it can help control impulse spending.
READ ALSO: How to survive an entire weekend with just 100 Ghana Cedis
2. No budgeting plan

If you don’t have a clear plan for your expenses, your salary will disappear before you know it. Many people fail to track where their money goes, leading to overspending. A simple budget can help you allocate funds for rent, bills, groceries, and savings. Try using a budgeting app or writing down your expenses to stay on track.
3. Too many debts
Loan repayments and buy-now-pay-later schemes can eat up a large portion of your salary. High-interest debts make things worse, leaving you with little money for essentials. Prioritise paying off your debts and avoid borrowing money unless necessary.
4. Expensive lifestyle choices
Eating out frequently, buying designer brands, or subscribing to multiple streaming services can quickly drain your salary. While it’s nice to enjoy life, living beyond your means can leave you struggling financially. Consider making small changes like cooking at home, shopping smart, or cutting down on unnecessary subscriptions.
5. Ignoring savings

If you don’t set aside money for savings, you might find yourself struggling by the end of the month. Saving a small portion of your salary as soon as you get paid can help you manage emergencies and plan. Automating your savings can make it easier to stay consistent.
Making small adjustments to your spending habits can help your salary last longer. By budgeting, cutting down unnecessary expenses, and focusing on savings, you can take better control of your finances and enjoy greater financial stability.
It’s important to follow these steps because there’s really no point in working for 30 days and squandering in under a week.