How to find financial joy: new book outlines how to become debt-free

Ken Okoroafor, an Executive MBA graduate of Cambridge Judge Business School (EMBA 2014), has long focused on helping individuals and families become debt free while enjoying financial independence. With his wife Mary Okoroafor, he founded the Financial Joy Academy that offers an educational programme to make investments and savings work harder, and these goals are also reflected in their YouTube channel The Humble Penny.

We caught up with Ken as their new book, Financial Joy, is published by Quercus Books, to talk to him about the next phase in his career journey, what the book is about, and his on-going mission to help individuals and families achieve financial freedom.

What drives you on your career journey?

I’ve realised that the future is unclaimed land waiting for us to build on it. That means that everything is possible, and provided we approach this thing called a ‘career’ boldly and with the right intentions, we’ll succeed at anything if we remain fearlessly hungry but humble. The limitless possibilities, fun and the opportunity to change the world for the better through our work using limited resources drive me and my incredible wife, Mary.

Why did you write the book?

I co-wrote Financial Joy with my wife, Mary, because we believe that financial joy is for everybody and it’s accessible to them today, not later.

Building wealth can be complicated, especially with so much misinformation out there. Then you throw in everyday challenges such as the cost-of-living crisis. It can all feel overwhelming and isolating to try to live for today whilst also planning for a future lifestyle such as a comfortable retirement.

A step-by-step plan for financial freedom over 10 weeks

We wrote the book as a step-by-step 10-week plan to help people banish debt, grow their money and unlock financial freedom. We’ve also written it from our lived experience of living financial joy daily, having achieved financial independence aged 34 including mortgage-free in 7 years.

Choosing financial joy as a mindset and model has transformed our lives. We don’t wake up worried about money, we’re fulfilled doing work we love, we are in control of our time and have the availability to parent our children, enjoy our lives and travel whilst still working towards the future.

What is the book about?

Financial Joy brings together 2 worlds that are never usually associated together. The ‘financial’ world is about one’s money journey to financial freedom. It is what we ‘want’. Whereas the ‘joy’ is about the need to prioritise well-being and have fun on the journey. Joy is what we ‘need’. Without well-being, people cannot enjoy their wealth over time, so we wrote the book to help single people and couples design their balanced lives of financial joy; a journey to financial freedom enriched with the small experiences that bring people joy.

The book also includes 12 interviews of people on their wealth-building journey, their ups and downs and what they’ve done practically to navigate life’s challenges and create their lives of financial joy.

What do you hope the book will achieve?

I hope the book will help people find a situation where their financial situation no longer causes stress, anxiety or sleepless nights – a life where money becomes a tool for empowerment, enabling people to pursue their dreams, support their loved ones and make a positive impact on the world. This is the essence of a life of financial joy.

Helping parents help their children have a positive relationship with money

In addition, it’s our belief that this book will transform the financial destinies of millions of households such that parents, for example, can feel empowered and confident to teach their children how to develop a positive relationship with money and help them get involved in managing money well for their futures.

What’s next for you? Do you have any side hustles or new projects?

Our mission is to make financial joy a reality for every household in the country and beyond. We’re currently creating content @thehumblepenny on our various platforms (YouTube channel, Instagram, LinkedIn, TikTok and our blog). In addition, we are also delivering tailored workshops to companies and their employees on subjects such as financial wellbeing. We also have a vision of becoming product owners of investment products one day and creating tailored events such as a Financial Joy Festival. We see a future of us writing more books including books for our children’s generation and even building out our dream of a sister brand, The Humble Penny Kids. The world is filled with possibilities, so we’re having fun impacting the world positively one day at a time.