wealth maximisation tool box

What tools are in your wealth maximisation tool box?

Recently, I spoke about how the principles of negotiation are a great tool for your wealth maximisation tool box.


This begs the question… What is a wealth maximisation tool box? Good question, I say…


Wealth Maximisation

Wealth maximisation is an accounting term primarily used in the context of stock price adjustment. Essentially, wealth maximisation is when a business increases its own value in order to increase the value of its shares for its shareholders’ benefit.


In the context of personal finances, wealth maximisation is more akin to net worth. By making adjustments to your lifestyle, you’re able to increase your cash flow, reduce debt, and increase savings and investments. In turn, this makes your net worth go upwards.


Wealth Maximisation Tools

The tools of the trade pretty much include anything you can do to increase your net worth. These tools are used to reduce your living costs, reduce hobby and activity costs and make your dollar go further.


Whether you live in the city or country, work full time or are retired, are in your 20s or 60s… There’s wealth maximisation tools available for your use. Such tools include: a second job or side hustle, career progression strategy, smart investments, frugal living, living in a tiny house, extreme couponing, self-sufficiency, dumpster diving, etc.


What’s In My Wealth Maximisation Tool Box?

As I outlined late last year, we’ve made a lot of frugal changes to our lives to help us cut debt and increase savings. In doing so, we were able to go from a 5% savings rate to a 25% savings rate in 6 months.


As part of our frugal living adventures, we:


In addition, we employ the following specific tools:


The principles of negotiation

As I recently outlined the principles of negotiation are a key tool for your frugality and wealth maximisation tool box. Employing good negotiation skills into your every day life can help you get what you want, when you want.


I have used the principles of negotiation to secure a much better deal on electricity and am in the process of negotiating a better deal on our internet, phone, etc.


If you’ve been putting off the awkward “give me a discount” conversation with your utility providers, don’t. Negotiating a decent discount can be a simple and easy process that’ll save you hundreds in the long run.


Career progression

As I outlined in my Money Match-Up debate on Rockstar Finance, career progression is my primary income strategy. Consequently, I’ve been working hard to establish myself in my workplace and climb my way up the ladder.


I jump at every opportunity that comes up, whether I want it or not. This helps develop transferable skills and builds my professional networks. As a result, I’m swiftly on my way to doubling the salary I started on.


Side hustles

Side hustles may not be my primary income boosting strategy, but I still give a couple of side hustles a go.


We try to sell as much of our unwanted goods on Gumtree. As I outlined last year, we’ve made thousands of dollars by selling our unused or unwanted goods.


My favourite side hustle is selling plants on Gumtree. We’re lucky enough to have some aloe vera plants that grow like crazy in our climate.


I’ve cultivated some of these in pots (that I scored off the side of the road) and sold them. I’ve also been lucky to be able to sell freshly dug up plants, without needing to pot too. This is a super easy side hustle and doesn’t cost me a thing.



As I recently outlined, we’ve been making our own beer to save money for about 7 months. Homebrewing beer is a really fun and enjoyable hobby… There really is nothing quite like drinking beer you’ve made yourself! The best part though, is that cartons of beer are now costing me $11.52-$19.68.


In addition to beer, I also have a small vegetable and herb garden that grows a modest amount of our food consumption. This has been a labour of love and I have plans for expansion of our food garden into other areas of our yard, as well as the addition of fruit trees. 



Your wealth maximisation tool box is your most critical asset in your journey to higher savings, a debt-free future, financial independence or early retirement.


Every tool you add to your wealth maximisation tool box forms part of a holistic approach to your personal finances. The more tools you have in your tool box, the easier it will be to get the job done.


Cheers, TFC.

Posted in Money Reflection and tagged , , , , , , .

The Flawed Consumer is a Gen Y consumer that is on a mission to achieve wealth simply by changing spending and lifestyle habits.


  1. Good post! I’m including this in the upcoming Australian FI Weekly edition next week.

    My tool box includes having a flexible second job, doing housesitting for free accommodation while travelling, using side hustle apps such as Job Spotter, and occasionally buy second-hand clothes cheap to resell on eBay.

    • Thanks for the inclusion again Michelle! Your tool box sounds pretty awesome… I’m keen to start trying housesitting for free accom – would be keen to pick your brain about it. Cheers.

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