The Three Lever Strategy for Financial Success

Ask anyone who owns the soul crippling debt called a home loan, what is their one financial goal in life. How will they achieve financial success? They will either say, win a Powerball jackpot like this lucky person and pay off my family home, or they will just say, I want to pay off my home. That is it. After that, all of life’s problems disappear.

What Is the Ultimate Dream?

Working a terrible job. Not going on holiday. Worrying about bills. Once your house is paid off, these everyday concerns go away. Investing in shares, or buying multiple properties are not on the radar for most people. They seem unachievable. But buying a house is. Paying it off, though, is another story. That is the great Australian dream. Like most people, that is my goal and has always been since I bought my first place 11 years ago.

People I know have mentioned on numerous occasions that their way out of mortgage debt is when their parents die. Is it wrong to count that free cash so early? Unfortunately, I’m a little more ambitious and the ultimate dream is to pay off my home by the time I turn 50. Financial freedom is 9 years away.

I have a rental property, kids, schools and other small expenses that always pop up. The ultimate dream needs some reality to actually make it happen. You cannot control everything that happens in life. Sometimes you need some luck, but you can help make your own luck. You just need a system to help achieve your ultimate dream.

What Are the Three Levers to Financial Success?

I was always bad with money. My answer was to always make more money. Change jobs, get pay rises, that was great but I could only go so far with that approach.

After my financial awakening, I realised that I was more conscious of my money. ATM fees. Interest rates. Specials at the supermarket. phone bills. All the little things I never cared about now set off an alarm in my head. I’d ask myself, why am I voluntarily wasting that money? To create order I needed a process. To normalise this behaviour I needed a system. I defined three levers to help me achieve my personal finance goals. This is what I call my Triple Threat Strategy. These are the three levers to financial success.

Lever One: Save More Money

Some bills you can’t avoid. Mortgage payments, phone bills, subscription services. Most of these items are essential to your survival (Netflix included). The best way to save more is to remove what you don’t need and reduce everything else. Cheap Mobile Plans are easy to find. The reception may not be great and you may need to hold a coat hanger to receive a call, but that’s ok. Credit cards with excruciating annual fee? Easy. Find a cheaper card. You just have to have the “why am I paying that?” mindset. Be brutal and evaluate every essential item you need to pay.

Save More Money Tip:

Changing mortgage providers is worth the effort these days. Find the cheapest rate and threaten your bank to match it. If they don’t, go to another bank. You can save a bundle by not being lazy. You should do this every 2-3 years.

Lever Two: Spend Less Money

Does buying stuff make you happy? There are a million blog posts about not buying a coffee every day and bringing sandwichs from home. I agree with that, it’s nothing new. It is common sense but you also want to live a bit. Do you want to go to the pub and watch your friends have a pint and parma as you look on, drinking your free water? You want to enjoy your life too. Spend a little, but be aware of your expenses. Use an app to help track your expenses, don’t say “yes” to every activity you get invited on. be selective and try stick to a loose budget.

Spend Less Money Tip

Do you need that shiny item now? Can it wait until next month. If it can, will you still want it next month? See what happens. You can’t have everything and you’re not a millionaire. It’s good to remind yourself of that fact every so often.

Lever Three: Make More Money

How can you bring home more cheddar? You need to play the game. If you’re a corporate, a Tradie or Self employed? Whatever. You have to be ambitious and a little greedy. The deciding factor between making more money and not making more money boils down to effort. I know many people that say no to overtime, side hustles and promotions. It’s crazy. They like money, but have no desire to put in the time.

Make More Money Tip

I have always had a firm belief that you never say No to any opportunity. Those opportunities compound and you never know what door will open because of it. And I have no shame in saying to be a little greedy – more money in your pocket is a good thing.

The Three Lever Strategy for Financial Success

Overall, this strategy was a big deal for me, as my previous strategy was Make more via my professional career. That was it. Slowly I discovered how to Save more and how to manage my finances better. I stopped saying “I can afford it” to every expense or impulse to buy things I didn’t need. Then I actively found ways to spend less. Purely through being aware of my finances. I became aware of how much things cost. I started to say “no” to things, and not saying yes to every videogame or concert rolling through town.

The Final Countdown Lever

I was pulling all the levers and it was a great feeling and I was getting ahead. However, I found there was still quite a bit of waste month after month. I was so focused on my saving and my new found financial freedom, I forgot one crucial thing. I was pulling all the levers and when I wasn’t looking, my wife was pulling them back up again.

Sharing bank accounts and financial strategies with a partner is essential. They need to know the plan and what you are trying to achieve. For financial success, you both need to be aligned in your mindset and spending. Going out to dinner with the kids and having fun is perfectly fine. You just need to remember there is a limit. Going out and blowing cash every day of the school holidays isn’t necessary. You don’t need money to enjoy time with your family. It’s nice to get back to basics sometimes and enjoy the simple life. Climbing trees, riding bikes, drawing pictures together – just like we used to when we were all kids and the internet didn’t exist!

Get your partner onboard. If you have shared goals and a vision of paying off your home quickly, it becomes easier. Your spending habits align and thinking before spending money becomes the new normal. And it is a great feeling when you see your bank account growing, your mortgage shrinking and your worries get smaller and smaller.

Financial Success Can Be Yours

I was never the greatest saver. I have now learnt how to spend a little less and enjoy myself without going wild and blowing cash. I’ve got three levers:

  • SAVE MORE MONEY (Manage money better, save where I can)
  • SPEND LESS MONEY (Be aware of expenses, extra curricular spending)
  • MAKE MORE MONEY (Work, raises and side hustles)

I’m pulling all three levers at once and it’s working for me. But I’m not one to rest, believing I have it all figured out. I can’t help but wonder are there more levers to pull? If I missed anything, be sure to let me know in the comments.



Financial Failure to Financially Free

As a lifelong financial failure with a young family and deep in debt, I was made redundant 3 times in 2 years and in serious trouble. I had a “Financial Awakening”, I learned about personal finance and gained a financial education to accumulate 7 figures in assets.

My personal goal is to invest in myself, compound my knowledge and build wealth using three simple strategies. Save more money. Make more money. Learn about money. I’m living proof, that through the power of financial education, anyone can achieve financial independence. My sincere hope is that you will be able to learn from my journey and my blog.

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