Many people think investing is only for adults or people with a lot of money. But that’s not true. Even as a student in Ghana, you can start learning about money and making smart choices that will help you in the future.
During my second year at the university, I realised I needed a laptop badly for assignments, research, and online lectures. My parents couldn’t afford one, and I didn’t want to borrow or wait for help that might never come. I made up my mind to save a little every week, no matter how small — sometimes GHS 5, sometimes GHS 10 — and I kept the money in my student bank account.
It took me almost a year, but I finally saved enough to buy a decent second-hand laptop. That laptop changed everything. I could now learn new skills, take online courses, and even start a side hustle in graphic design. This experience taught me that saving as a student is the first step to investing in your goals, no matter how far they seem.
Then, after school, after I landed my first job, I made a decision to start saving GHS 200 every month from the small income I was earning while pursuing a postgraduate course. I didn’t have a big plan for the money, but I just wanted to build a habit of saving. I opened a simple savings account and made it a rule to deposit the money at the end of every month. After two years, I had saved GHS 4,800, not counting small interests. I then bought treasury bills with it.
Then, in 2020, COVID-19 hit. I lost my job and was unemployed for over a year. Those savings became my lifeline. I used it to buy food and take care of myself without borrowing from anyone. It taught me a strong lesson: investing in your future through regular savings, no matter how small, can protect you in times of crisis.
This article will explain what investing is, the benefits of starting early, and simple ways students in Ghana can start investing.
💡 What is Investing?
Investing means using your money today in a smart way so that it grows and gives you more money in the future. It could be putting money into a business, saving in a bank, buying treasury bills, or even investing in your education.
🎯 Why Should Students Start Investing Early?
- You build a good habit: Learning how to save and grow money early makes you more financially wise in the future.
- Time is on your side: The earlier you start, the more your money can grow.
- You learn by doing: Even small investments teach you how money works.
- You prepare for the future: Whether it’s national service, starting a business, or job hunting, you’ll be more prepared financially.
🏫 Types of Investments for Students in Ghana
1. Investing in Your Education
This is one of the most important forms of investment. Invest in your education by buying the right books, attending training, and learning useful skills like IT, public speaking, or digital marketing can all bring long-term benefits. Education opens doors.
Many insurance companies in Ghana offer long-term educational investment policies which cost as low as GHC 50 a month for 4 to 10 years, depending on the policy. You may be thinking, ‘This is a long time!’ but believe me when I say time passes quickly. If you plan on getting a degree, master’s, MPhil or PhD, this is a great investment opportunity for you. Talk to trusted insurance companies like Enterprise or Starlife to sign up for one of these educational policies.
Investing in your education is the best investment you can make because once you land a job, you’ll reap the benefits in higher pay and promotions for years to come. It also increases your retirement fund if your salary is higher.
📌 Example: A student who learns graphic design in SHS or university can start freelancing and earn money while still in school. Money earned through free lancing can then be used to pay for training in photoshop or obtain a degree or masters in graphic design.
2. Piggy Bank or Susu Box
A piggy bank or susu box is a simple way to save small amounts regularly. My brother saved coins for a year, and to his surprise, he got almost GHC 1000 after we counted it at the end of the year. Do not underestimate how much you can save from simply putting coins from spare change in a piggy bank.
- How it works: You put coins or notes inside daily or weekly.
- Reward: You build discipline and can use the money for small projects or emergencies.
🔐 Tip: Don’t open the piggy bank until the end of the term or year.
3. Savings Account
This is the next step after using a piggy bank. Now that you have a good amount from your piggy bank, don’t spend it! Deposit it into a savings account NOT a current account. Many trusted banks in Ghana offer students savings accounts with interest. Read more from the link below on the best banks in Ghana that offer student savings accounts.
- How it works: You open a student savings account.
- Reward: Your money is safe and earns a small interest.
- Risk: Some banks may charge fees, so choose student-friendly accounts.
💡 Always ask about account charges before opening.
*Read More on Best Banks for Students in Ghana
4. Treasury Bills (T-Bills)
This is a safe and low-risk way to grow your money. In investment, high-risk investments earn more money, but there is also a high probability that you will lose all your money, while low-risk investments earn lower interest, but there is a much higher probability that your money plus interest is safe. So my advice is, once you’ve saved enough in the bank for some time, say a year, you can now invest that money in treasury bills.
- How it works: You buy treasury bills (lend money to the government) for 91 days, 182 days, or 1 year, and they pay you interest.
- Where to buy: Banks like ECOBANK, Absa, Bank of Ghana, Stanbic, GCB, or ADB.
- Reward: Your money is protected and grows a bit more than if it’s left in a savings account.
- Risk: Lower returns compared to business, but also safer.
📌 Example: If you invest GHS 10,000 in a 91-day treasury bill, you can get a little profit of about GHC 600 after 3 months.
5. Investing in a Small Business
Some students sell airtime, food, clothing, or do freelance work (like photography, writing, or hair braiding). This requires a little capital. After saving for a while, you can then invest in a small business or ‘side hustle’.
- Reward: You earn money and gain experience.
- Risk: The Business may fail if not managed well.
- Tip: Start small, don’t borrow money to start, and always keep records.
⚖️ Risks and Rewards of Investing
| Aspect | Reward | Risk |
|---|---|---|
| Education | Better job, more knowledge | Needs time and focus |
| Piggy Bank | Discipline, savings | Can be stolen or lost |
| Savings Account | Secure savings, small interest | Low interest, possible bank charges |
| Treasury Bills | Government-backed, safe, steady growth | Lower returns than some other investments |
| Small Business | Higher earnings, real-life experience | Can lose money if not careful |
🙋 Tips for Student Investors
- Start small: Even GHS 1 a day adds up.
- Be patient: Investments take time to grow.
- Don’t fall for quick money scams: If it sounds too good to be true, it probably is.
- Learn before you invest: Ask questions, read, or watch YouTube videos about money.
- Keep records: Track how much you save, earn, or spend.
📌 Final Words
You don’t need to be rich to start investing — you just need the right mindset. As a student in Ghana, investing in your education, learning to save, and trying small investment ideas can put you on the path to financial success. The habits you build today will shape your future.
READ SOME OF OUR LATEST ARTICLES FOR STUDENTS:
