Professor Emeritus Stephen Adei has urged Ghanaians to be financially disciplined and desist from wasting money on needless purchases such as excess clothes.
Speaking on point 11 of his 13 principles to financial independence that a regular salaried worker can use to raise a million in investments, Prof Adei said Ghanaians must "limit the price of financial success".
"In other words, don't make certain sacrifices, that is financial discipline, not wasting your money," Prof Adei said.
"The average Ghanaian has more clothing than a millionaire in America, yes...".
He said, for instance, millionaires in America such as the late Steve Jobs could own only four pairs of jeans which they would wear for many years and compared to a Ghanaian with a normal job.
He added that getting "Getting rich at the expense of personal integrity, a good marriage, family life, fellowship and friendship only makes you a rich fool".
Prof Adei was speaking on the Springboard Your Virtual University show.