Ghanaian businessman Richard Nii Armah Quaye has revealed that despite his growing wealth, he spends only a small portion of his income, attributing it to years of financial discipline.
In a video circulating on social media platform X, the entrepreneur explained that he has consistently maintained strict control over his personal expenses throughout his business journey.
According to him, he currently spends less than 20 percent of his income, a principle he has followed since the early stages of building his businesses.
“I am spending below 20% of my income,” he said, noting that when he first started out, his personal expenditure typically stayed between 19 and 20 percent of what he earned.
Quaye further explained that as his businesses have grown and profits increased over time, the portion of his wealth needed to cover his personal lifestyle has become significantly smaller.
“Where I’ve gotten to in life, when I started I was almost around the 20% borderline, always within 20% and 19%,” he stated.
“But as I go forward and my profit becomes bigger, now I can take 2% of my wealth and I can’t even spend it.”
