Author launches book to help Nigerians escape debt and financial stress

Financial educator Yemisi Adepoju has launched "Broke After Pay Day," a new book designed to guide individuals toward financial freedom and escape from chronic stress related to debt. The publication delves into the behavioral and emotional patterns that often underpin poor money management, aiming to provide a roadmap for breaking cycles of financial instability.

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As the chairperson of a cooperative since 2015 and rising to the management level, I saw a lot of employees going through the headache of paycheck-to-paycheck living.

Adepoju, who has served as chairperson of a cooperative society since 2015, observed firsthand the widespread financial struggles among employees, regardless of their income level. She noted that many individuals earning substantial salaries still find themselves trapped in paycheck-to-paycheck living and burdened by debt. "I've seen people earn N500,000 to N600,000 and are still owing. The financial embarrassment is crazy. And I felt, how do we break this cycle?" she stated at the book launch in Lagos.

The book tackles common financial pitfalls such as impulsive spending, lifestyle inflation, succumbing to peer pressure, and making emotional financial decisions. Adepoju's central goal is to empower readers with practical strategies and tools to achieve lasting financial stability and break free from debt traps.

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I’ve seen people earn N500,000 to N600,000 and are still owing. The financial embarrassment is crazy. And I felt, how do we break this cycle?

"I wrote this book because I want to see a change in Africa and want employees to understand that it doesn’t matter what the situation is, whether black tax or a terrible partner. All that matters is that you can get out of it," Adepoju explained. The book is structured into eight chapters, blending storytelling with actionable exercises to make financial lessons accessible and applicable to everyday life.

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I wrote this book because I want to see a change in Africa and want employees to understand that it doesn’t matter what the situation is, whether black tax or a terrible partner. All that matters is that you can get out of it.

Adepoju stressed the importance of discipline, budgeting, and delayed gratification, warning that poor money habits can persist irrespective of income. "If you cannot manage N30,000, you will not be able to manage N5m. So you must have structure or a budget," she advised. The book uses relatable narratives, including a chapter titled "Who chop my salary?" depicting a character whose earnings vanish within minutes of being paid, to illustrate the urgency of addressing these financial behaviors.

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Many people are working but not happy. Some are in the prison of debt. The book addresses it.