Episode 1: Why most people are broke despite earning a salary: Income is not the problem. Habits are

By Ezekiel Adu Mensah

Across offices, factories and campuses, millions earn a salary every month yet remain financially strained. The paradox is familiar: regular income, constant pressure. It raises a hard question. Why does earning money not translate into financial stability?

The answer lies in a simple but uncomfortable truth. Income and money management are not the same skill.

A salary solves the problem of earning. It does not solve the problem of keeping, prioritising or growing money. Many people assume that once income arrives, order will follow. In reality, habits decide the outcome long before payday.

Consider two workers on the same salary. One builds emergency savings, plans expenses and makes modest progress. The other is always borrowing before month end. The difference is rarely intelligence or effort. It is behaviour.

Spending expands to meet income. When pay increases, expenses quietly follow. New phone. Higher rent. Lifestyle upgrades that feel deserved but are never questioned. Without intention, every raise becomes invisible within months.

This is where many go wrong. They focus on how much they earn and ignore how they use it.

Another issue is timing. Bills are paid last instead of first. Savings are treated as leftovers rather than commitments. By the time expenses are done, nothing remains. This is not misfortune. It is structure.

There is also the pressure factor. Family expectations. Social obligations. Status spending. In our environment, income is often seen as communal. Without boundaries, financial progress becomes almost impossible.

Yet none of this is about deprivation. Managing money is not about suffering or extreme discipline. It is about clarity.

People who manage money well do a few simple things consistently. They decide in advance what their money must do. They separate fixed responsibilities from flexible spending. They automate savings and treat them as non negotiable. They plan for irregular expenses instead of being surprised by them.

Most importantly, they understand that habits matter more than income level.

A person who cannot manage GHS 3,000 will struggle with GHS 10,000. More money only amplifies existing behaviour. It does not correct it.

This is why financial education must go beyond earning power. We celebrate jobs, promotions and side hustles. We talk less about spending patterns, debt behaviour and long term planning. The result is a workforce that earns but does not progress.

Breaking this cycle does not require complex tools or advanced finance knowledge. It starts with honest self assessment. Where does my money actually go? What expenses are draining me quietly? What habits repeat every month without adding value?

Until these questions are answered, income alone will never be enough.

Earning money is important. Managing it is essential. The difference between the two explains why many salaried workers remain broke despite working hard every day.

Next episode: Budgeting without stress. Why simple systems work better than perfect plans.

Ezekiel is the Head of Accounts, UMaT–SRID, Essikado and  a Chartered Accountant and finance professional with over a decade of experience in accounting, taxation, and business management. Passionate about financial literacy and economic empowerment.

Email: [email protected]

Linkedin/Ezekiel Adu Mensah

Contact 233544520178

The post Episode 1: Why most people are broke despite earning a salary: Income is not the problem. Habits are appeared first on The Business & Financial Times.

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