From £25K debt to £2million company in seven years – businessman shares steps to success


Matthew Smith, author of The Millennial Money Masterplan, shares in the book his own story of how he went from £25,000 in debt to starting a £2million business in only seven years. Mr Smith launched The Millennial Money Masterplan detailing the six-step process that got him to financial freedom, and how other millennials can achieve this seemingly impossible success as well.

In 2013, Mr Smith had a near-death experience which resulted in a £210,000 hospital bill while on honeymoon in America.

“In hindsight, nearly dying was one of the best things that’s ever happened to me,” he states in the book.


“If it were not for that experience, I’d probably still be working that corporate job, doing long hours, earning okayish money, but never really feeling truly fulfilled.”

Mr Smith recalls the pledge he made whilst in hospital.

“I promised myself I wanted to have a great life, I wanted to achieve true financial freedom as soon as possible, but not by ignoring all the wonderful things the world has to offer.”


Like most other millennials, Mr Smith had spent years trying to pay back his debt, and his journey to financial freedom started by confronting himself on the bad money decision he had made.


Reminiscing on this, he took into account the ideal life he would like to live and began cutting out expenses that were not essential to that life.


In a leap of faith, Mr Smith also quit his job to co-found Buckingham Gate, a financial planning firm, and reordered his monetary priorities: pay off, save and invest.

Buckingham Gate has thrived and grown since then and as has his investment portfolio, allowing Mr Smith to enjoy the great life experiences he pledged to have.

“Money is no longer a concern,” he wrote.


This is the reality many young people believe they can only dream about, but Mr Smith believes there is a singular tool to change this.


“Millennials have tools and capabilities enjoyed by no previous generation,” Smith writes.


“The funny thing is the key to your true financial freedom – the most game-changing tool that will transform your financial life forever – has been right under your nose for a decade or more.

“You just haven’t noticed its transformative power yet. This magical tool is called… the Internet!”

The internet can be a great provider to those who know how to take advantage of its opportunities and assistance.


However, it also creates a lot of deterrents for those trying to be optimistic about their social, economic and environmental future.

Mr Smith mentions the resilience of millennials, who have emerged into adulthood during one of the most challenging decades on record.

Mr Smith writes: “With everything going on in the world right now it’d be easy to just give up.


“Every five minutes it seems there’s another news story about the devastating economic consequences of this pandemic on young people (and older people too, of course) or another story about a business going bust, people losing their jobs, their homes and their livelihoods.

“I’m telling you not to give up just yet,” he added.

One of the more strategic issues facing the millennial generation is the vastly different economic values between them and the generations before.


“Somewhere between the extreme saving of the Boomers and the extreme spending of the Millennials, I believe there’s a new world order,” Mr Smith notes.

“One where people can enjoy fantastic experiences on a regular basis, travel the world and see all it has to offer, eat out with friends over wine and laughter at the weekend yet STILL be able to buy a house, accumulate a nest egg and STILL enjoy more of the same during their retirement.”

Mr Smith also noted his aspirations for all readers.


“My hope for all of you is that it doesn’t take a near-death experience to wake you up and jolt you into action.

“If you’re unhappy with your job, your financial situation, your debt or your freedom, you can change all of it, quickly and relatively easily.”


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