The current economic crisis Ghana faces can be described as one of the worst in the country's history in post-colonial times. The economic situation has increased the cost of living in Ghana to highly unprecedented rates. Ghana's current inflation stands at a staggering 37.2% whiles the cedi continues to depreciate against the US dollar and other major trading currencies. Ghana's debt has also become highly unsustainable as it is unable to secure credit from the international market due to negative downgrades by rating agencies. The West African country is currently in talks with the International Monetary Fund to secure financial assistance. But until the expected GH¢3 billion is secured from the IMF, the country's woes continue with no end in sight. Even though the Bank of Ghana has hiked the monetary policy rate to 24.5%, causing the interest rates for treasury bills to go up to about 30/31%, the rates are still lower than the country's current inflation rate of 37.2%. This also posed a huge challenge to the government as fears were that the government might not be able to raise enough funds to pay maturities in October. Also, Ghana is considering a debt restructuring program to ensure that its debts are sustainable and is able to secure funding from the IMF; however, when this happens, domestic investors may lose some part of their investments. The question, "What should we do with our money" has become a very common phrase in recent times. Even though it cannot be an assured route to take considering the rate of the economy's meltdown, here are a few options to choose from. 1. Treasury bills Treasury bills have been known to be one of the safest forms of investment. Even though its interest rates are relatively lower, its yields are attractive to investors. Normally the rates are higher than inflation rates; therefore, investors have their returns secure. At the current inflation rate of 37.2%, investing in Treasury bills will result in negative returns because interest rates are pegged below the inflation rate. However, if you keep your money without any investment, inflation will still affect its value; therefore, investing in treasury bills may result in a loss of about 6 to 7%, whiles keeping your money will result in a 37.2% depreciation or even more. 2.Invest in an asset Prices of goods and services keep increasing hourly and daily. It is advisable to convert liquid assets to fixed assets. These assets' value will appreciate with time. With that, you may decide to sell it off and make your money back with a higher value when the economy stabilizes. 3.Keep a portion of your money in hand Experts have advised that it is somewhat safer to keep a portion of your money in hand instead of keeping them in the bank. They explain that if Ghana's economic situation persists, banks may be forced to enforce a withdrawal cap on withdrawals, and this may not be good for customers. 4.Buy a foreign currency Even though increasing demand for foreign currencies is resulting in the constant depreciation of the cedi, you can decide to be "selfish" and buy some dollars or pounds to at least retain the value of your money. 5.Stock up (groceries, food, clothes, dresses, drugs etc) Food prices especially have more than doubled this year and are expected to continue on the upward spree until some stabilization is achieved. If you have some money currently, it is advisable to buy food in excess and shop for things that you may need in the next few months, especially essential needs. 6.Invest in a 'necessity' business In the next three months, before the end of the year and the receipt of IMF support, investing in a business that provides a good or service of necessity will keep you afloat. Ensuring that you have a steady and secured source of income will reduce the pressure in the long run. SSD/FNOQ Watch the latest episode of BizTech below: