Tech-Savvy

Learned something new about money today 📍📍 If you make your first GH₵150,000 and plan to buy your first car, here's a smart move instead of paying cash upfront: 1. Deposit the full GH₵150,000 into your bank account. 2. Use that deposit as collateral to secure a car loan from the same bank (many Ghanaian banks allow this for fixed deposits or similar assets). 3. Take the loan to buy the car outright. 4. Spread loan repayments over 5 years or more (negotiate with your bank). Your original GH₵150k stays in the account, accessible and earning interest. Invest it wisely in a low-effort way: - Do Lazy man's investment: Treasury Bills Split the GH₵150k into three parts (GH₵50k each). Invest GH₵50k each month for 3 months in 91-day Treasury Bills (current rates ~9.9–10% as of Feb 2026). Roll over (reinvest) principal every 3 months. Right after the third month of your investment, you will get GHc3000 interest every month thus based on the current interest rate. Use the interest to service the loan every month till you finish settling the loan. In theory, you would end up with both the car and your original money - essentially getting the car "for free". Reality check (Feb 2026 rates): - 91-day T-bills: ~9.9–10% - Car loans: Typically higher (often 15–25%+ effective rate). It works best if your loan rate is low (thanks to collateral) and you roll T-bills diligently. 🚗💰 If this was helpful, SHARE😊

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