Genistar
Financial Education
For Genistar leader Armel Figueiredo, wealth isn't about the numbers alone. Shaped by early loss, financial hardship, and years spent helping others manage debt, Armel now builds his business around freedom, family security, and generational opportunity — the true meaning of Genistar's Good Life.
Earlier this year, Armel Figueiredo appeared in The i Paper's How I Manage My Money series, opening up about his income, savings, and financial goals. Readers got a glimpse of the numbers: what he earns, what he saves, and where his money goes each month.
But numbers only tell part of the story. Behind the monthly budget is a man whose relationship with money has been shaped by loss, hard graft, and a determination to give his family something more secure than what he grew up with.
So, what does the good life actually look like when you've experienced how quickly financial circumstances can change? For Armel, the answer has taken years — and several hard lessons — to come into focus.
How did Armel learn the value of financial security?
Armel's early years were comfortable. Born in Angola, his family relocated to Gabon during the civil war, and by his own account, he grew up without financial worry. His mother was a successful international businesswoman, and his father held a senior role at the American Embassy.
That changed when Armel was 14. His mother was diagnosed with lung cancer and passed away after a two-year illness. Not long afterwards, his father lost his job and the family's circumstances shifted dramatically.
‘My father moved to England and my siblings and I were moved to different family member’s homes in Angola. I learned to fend for myself during this period and took on whatever work I could find. I’d go to construction sites and ask for work. I’d carry bricks, mix cement and transport heavy materials by hand. I also sold clothes and car parts at a market. I did whatever I could to get by.’
As quoted by Armel Figueiredo in iPaper article, 'How I Manage My Money: Direct seller, on £4,000 a month, with £40,000 in savings.'
It was a period defined by resourcefulness and resilience, long before financial planning became part of his vocabulary.
In 1999, his father was able to bring him to England, marking the start of a new chapter.
What did years in debt collection teach Armel about money?
From 2013 to 2025, Armel worked as a debt collector, speaking daily with people struggling to keep up with bills, loans, and credit repayments. Much of his role involved reviewing people's income and expenditure and helping them build realistic repayment plans.
It's a detail worth pausing on: long before financial education became his business, helping people regain control of their finances was already part of his working life.
Armel has spoken about finding genuine satisfaction in that part of the job — guiding people back towards stability. But the role also had a cost.
‘I was speaking to people in deeply vulnerable situations. Over time, this began to affect me and I noticed changes in myself.’
As quoted by Armel Figueiredo in iPaper article, 'How I Manage My Money: Direct seller, on £4,000 a month, with £40,000 in savings.'
After more than a decade, he made the decision to move on.
That experience, seeing firsthand how financial pressure affects people's lives, has clearly stayed with him. It's part of why he now approaches money not as a goal in itself, but as a tool for reducing stress and creating stability for others.
Why did Armel decide to build his own business?
Armel began building his Genistar business part-time in 2022, before committing to it full-time. The shift from employment to entrepreneurship wasn't just about earning differently — it was about building something lasting.
One motivation stood out clearly: Armel wanted to work for himself and create something he could eventually pass on to his children. That's a meaningful shift in mindset — from short-term income to long-term legacy, from working for a wage to building an asset for the next generation.
It's a theme that runs through much of Armel's story. Financial independence isn't just personal freedom for him; it's also about what he can leave behind.
How did personal experience reshape Armel's approach to planning ahead?
Armel's own health challenges reinforced lessons he'd already learned from watching others navigate financial difficulty.
‘My attention turned to my own finances when I was diagnosed with prostate cancer in 2022. I feltmy world was crashing down around me and that my days were numbered. On the financial front, I quickly took out income protection insurance after my diagnosis.’
As quoted by Armel Figueiredo in iPaper article, 'How I Manage My Money: Direct seller, on £4,000 a month, with £40,000 in savings.'
Having taken out income protection insurance, a later claim provided a lump sum that helped ease financial pressure on his family during an understandably difficult time.
Reflecting on the experience, Armel has said it reminded him how important it is to have plans in place and to think ahead financially.
The message here isn't about predicting misfortune. It's a reminder that financial planning isn't only about preparing for the life we expect — it can also create options when life doesn't go according to plan.
Picture Courtesy: iPaper
What does "the good life" mean to Armel?
This is where Armel's story finds its emotional centre. As he puts it: "For me, money provides freedom and options."
For Armel, financial success isn't measured purely in savings or income.
‘In my previous career, I saw the darker side of money and how much stress it can cause. For me, money provides freedom and options and enables me to control my own time. It means I can provide for my family.’
As quoted by Armel Figueiredo in iPaper article, 'How I Manage My Money: Direct seller, on £4,000 a month, with £40,000 in savings.'
A good life isn't simply about having more — it's about what money makes possible: time with family, travel, security, generosity, independence, and opportunities passed down to the next generation.
What's next for Armel Figueiredo?
Looking ahead, Armel's ambitions centre on building generational wealth, growing his investments, and creating greater financial independence for his family. He hopes to continue travelling the world with his wife and children, and to have the freedom to work from anywhere — without ever needing to ask a boss for time off again.
Armel's story is a reminder that our relationship with money can evolve significantly over a lifetime — from experiencing uncertainty firsthand, to witnessing financial hardship in others, to eventually building something intentional for the future.
We celebrate the people behind our business — the experiences that have shaped them, the lessons they carry forward, and the possibilities they're building for themselves, their families, and others.
You can read the full iPaper article here.
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The information provided is for educational and informational purposes only and does not constitute financial advice. Individual circumstances differ and you should consider seeking professional advice before making financial decisions. Please refer to our legal disclaimer for further information.
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