Two Homes, One Wallet: Financial Tips for Ghanaians in Finland

Living in Finland while supporting family in Ghana? You're managing two lives, one in Europe and one back home. It's a tricky balance, from paying bills to sending remittances. Many Ghanaians in Finland feel the pressure of managing two homes with one income. But with the proper steps, you can control your money and support your loved ones without draining your savings.

Here’s how.

Understand Your Total Commitments

The first rule of financial stability is knowing where your money goes. Don’t just track what you spend in Finland. List all monthly responsibilities in both countries.

These might include:

• Rent and bills in Finland
• Transport and food
• Monthly remittances to family
• Occasional school or medical support in Ghana

Create a simple budget. Apps like Monefy or Spendee can help. If you don’t track it, you can’t fix it.

Build a Europe-Based Emergency Fund

Emergencies happen both in Ghana and Finland: job delays, health problems, and urgent travel. Set up a separate savings account to save at least 1,000–2,000 euros over time. This safety net will protect you from taking loans or using credit cards when problems arise.

Remit Money the Smart Way

When supporting loved ones, high transfer fees can quietly eat up your income. Choosing a low-cost and trusted remittance provider makes a big difference. ACE Money Transfer is one of the most trusted names for online money transfer from Finland to Ghana.

• Fast transfers
• Competitive exchange rates
• 4.8/5 rating on Trustpilot 

Using ACE means more of your hard-earned money reaches your family. It’s also mobile-friendly and easy to use anytime.

Avoid Lifestyle Inflation

Earning in euros feels great at first, but expenses can rise just as fast if you’re not careful. Be mindful of:

• Eating out too often
• Buying new gadgets
• Overcommitting to helping too many people financially

Don’t Use Loans to Send Remittances

It’s noble to support your family. But don’t take loans or use credit cards to do it. Sending borrowed money creates more stress and debt. Help only when you can afford to. If money is tight, have an honest talk with your family about your situation. Your long-term stability helps everyone in the end.

Start a Small Side Hustle

Many Ghanaians in Finland take on side gigs to supplement their income. Popular options include:

• Weekend delivery jobs
• Library services
• Freelance digital work (writing, graphic design, translation)
• Cooking traditional Ghanaian food to sell

Use extra income for investments, savings, or education, not just day-to-day spending.

Invest Back Home — But With Caution

Property, land, and small businesses are common investment choices for Ghanaians living abroad. But be careful — many have lost money due to unclear ownership, poor planning, or mismanaged projects back home.

Before you send money to Ghana for an investment:

• Always request proper documentation
• Ask for regular photo or video updates
• Assign someone you really trust to oversee things
• Put everything in writing — no verbal promises
• Start small, test the process, and build slowly

It’s your hard-earned money. Don’t rush. Invest wisely, one step at a time.

Plan Long-Term, Not Just Monthly

It’s easy to get caught up in just sending money every month. But it’s just as important to think 5 to 10 years ahead.

Ask yourself:

• Will I stay in Finland long-term or return to Ghana?
• Do I want to build a house or start a business someday?
• Am I planning to invest in my children’s future?

Set clear financial goals and break them into small steps. This mindset helps you make better decisions — not just monthly, but for your future.

Learn About the Finnish Tax System

Doing part-time work? Running a small side hustle? Investing? Great,  but don’t forget the tax part. Finland has strict tax rules, and the penalties for not declaring income can be serious. If you’re unsure, visit the Finnish Tax Administration or talk to a tax expert. Understanding your responsibilities will help you avoid any surprises later.

Use Financial Tools and Technology

Managing money across two countries can get overwhelming, but technology can help you stay in control. 

Use:

• Budgeting apps like Monefy or Spendee
• Remittance tools like ACE Money Transfer for fast, secure transfers
• Alerts to remind you when bills are due
• Savings calculators to plan ahead
• Banking apps that show how you spend

Smart tools = less stress and more confidence with your money.

From Euros to Cedis: Balance Life Between Finland and Ghana!

Balancing life between Finland and Ghana isn’t always easy, but smart money habits can make all the difference. Track where your euros go, build a safety net, and avoid debts you can’t handle.

When it comes to supporting family, use a reliable and affordable way to send money to Ghana from Finland. ACE Money Transfer is trusted by thousands of Ghanaians because it’s fast, secure, and easy to use. With a 4.8+ ratingon Trustpilot, it’s a service that puts your peace of mind first. Your wallet might be split between two homes, but with the right plan, your future can be whole.

FAQs

What’s the safest way to send money from Finland to Ghana?

ACE Money Transfer offers a secure, fast, and low-fee way to send money online with excellent exchange rates.

How much should I send back home each month?

It depends on your income and budget. Only send what you can afford without hurting your savings.

Can I invest in Ghana while living in Finland?

Yes, but do your research. Never send money without verified documents or to trusted people.

Is it better to save in Finland or Ghana?

Ideally both. Save in euros for emergencies, and invest slowly in Ghana for long-term goals.

What apps can help with money management?

Use Monefy, Spendee, or even your bank’s app to track spending. Use ACE’s app to send money online to Ghana from Finland.