The Financial Director of Absa Bank Ghana, Kush Mkushi, has emphasised that financial planning is not exclusive to individuals with a steady income.

Speaking during Week One of the Citi Business Festival, which focused on financial planning, Mkushi encouraged Ghanaians to adopt a disciplined approach to money management, regardless of their current financial circumstances.

“I still think that even without income, you can do some financial planning. But that relies more on discipline,” he said.

He acknowledged the unpredictable nature of the cost of living but urged individuals without regular earnings to evaluate their existing skills and seek ways to generate income.

He cited fresh graduates as a typical example of people who may be in this position.

“It could be that you are just coming out of education and looking for a role. In your financial planning at that time, you will look at the matrix and tell yourself, ‘I just need enough to live, and I need to use my spare time to get some experience that will land me a better job or allow me to start a business on my own,’” he explained.

According to Mkushi, financial planning at such a stage should prioritise meeting basic needs while carving out time to acquire new skills or experiences that can be monetised in the future.

“The way you are thinking about financial planning in this situation is not necessarily to create a service but to meet your basic needs. That creates for you some additional time, which you can use to acquire skills or experience you will monetise in the future,” he noted.

He further stressed the importance of intentionality and discipline in managing finances, particularly during periods of uncertainty or transition.