The Head of Distribution and Channels at Prudential Bank LTD, Kojo Nteh, has encouraged young professionals to develop disciplined financial habits and make informed money decisions as the foundation for long-term financial security and wealth creation.

Speaking at the National Youth Mentorship Summit held in Accra, Mr. Nteh called on young professionals to adopt disciplined financial habits early in their careers, warning that without a plan, money will find its own plan to leave.

Addressing the audience on the theme “Personal Finance Tips for the Young Professional,” he noted that while earning an income is important, financial success ultimately depends on how effectively individuals manage their finances. He introduced the concept of "paying yourself first"; setting aside a portion of your income for savings before spending on anything else.

“It doesn’t matter how much you save,” he said. “What matters is consistency. Before you pay everyone else, make sure you pay yourself. The same way you would pay for transport, food and clothes. That is what you will use in the future,”

He urged participants to develop spending plans before receiving their income, stressing that budgeting helps individuals align their spending with their financial goals while avoiding unnecessary expenses.

He further advised the young professionals to automate their savings through standing orders, saying that removing the temptation to spend first makes it easier to build healthy financial habits.

"If on the day you are paid, the deduction goes through automatically, after some time you will get used to using whatever is left. You will adjust and manage on what remains," he explained.

Mr. Nteh also cautioned against get-rich-quick schemes and speculative investments that promise unrealistic returns, urging the youth to exercise patience and make informed financial decisions.

Additionally, he encouraged participants to resist lifestyle inflation by increasing their savings as their incomes grow rather than matching every salary increment with higher spending.

Mr. Nteh left the young professionals with a charge, "Be consistent. Be patient. Start small but start now. The habits you build today will determine the wealth you have tomorrow."  

The National Youth Mentorship Summit brought together students, graduates and young professionals to engage with industry leaders on career development, leadership and financial empowerment.