You can earn good money and still struggle to get ahead financially. For many tradies and hardworking Australians, the problem isn’t always how much they earn, it’s what happens to that money once it hits their bank account.

David Kennington spent over 30 years on the tools as a Fitter and Machinist in Western Australia's mining industry and for most of that time, he had no idea what to do with his money. In 2001, he watched his super fund take a painful hit and didn't understand why, or how to stop it happening again. Then in 2019, a financial reckoning forced him to actually learn — and within a year he'd bought two investment properties and built a real plan instead of just hoping his pay packet would sort itself out.

David breaks down his Four T method: Track, Trim, Transfer, and Triple — a practical framework for understanding your spending, cutting unnecessary expenses, putting money to work, and growing your investments. He also discusses his experience with a self-managed super fund, investment properties, shares, precious metals, and the importance of diversifying If you’re working hard but feel like you’re not getting ahead, this episode is a reminder to take a closer look at your finances, keep learning, and start building a plan for the future you want.

• The Four T method: Track your income and expenses, trim unnecessary spending, transfer savings into investments, and triple your investments through growth.

• Avoid pay packet creep: Don’t let every pay rise turn into more spending and lifestyle upgrades.

• Take control of your super: Understand your options and the importance of making informed investment decisions.

• Build multiple income streams: David believes relying on one source of income creates risk and advocates working toward five to seven income streams.

• Think long term: Understand investment cycles and have patience rather than reacting emotionally to short-term losses.

• Explore hard assets: David shares his perspective on gold and silver as a way to preserve purchasing power.

• Learn before you invest: Trading and digital assets require education, discipline, and an understanding of the risks.

• Start where you are: Tracking your finances honestly is a practical first step toward improving your financial position.

• Find the right mentors: Learn from experienced investors and keep building your financial knowledge.

• Define financial freedom: The goal is to have the choice to work because you want to, rather than because you have to.

  
  

David Kennington is an Australian mining and trades professional who developed a strong interest in financial education and wealth building through his own experiences. After working across mining, maintenance planning, IT, tunnelling, and fabrication, he began taking a more active role in managing his finances and investments.

Through his work at Tradies Earn, David aims to help tradies and hardworking people improve their financial knowledge, take control of their money, and work toward greater financial independence.

Website and free resources: https://tradiesearn.com

Explore David’s resources, including the Debt Demolisher and Budget Blueprint, to help you get a clearer picture of your finances.

https://www.linkedin.com/in/david-kennington-b6735340/

https://substack.com/@tradiemoney

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*language warning - episode contains some swearing*

In this episode, Michael Carbonneau goes deeper into how business owners can take control of their money, protect their wealth, and build income beyond a single business. He explains why paying yourself first, maintaining healthy profit margins, and knowing exactly where your money is going are critical steps toward financial freedom.

Michael also shares his thoughts on diversification, including how entrepreneurs can expand into new markets, develop additional income streams, and use different investment strategies based on their goals, timeline, and risk tolerance.

The conversation also explores life insurance as a potential wealth-building and borrowing tool, business structures such as corporations and trusts, and why building generational wealth requires more than simply leaving money behind. The next generation needs the knowledge and mindset to protect and grow it.

• Why business owners should pay themselves a consistent salary instead of treating the business like a personal bank.

• The importance of maintaining a 20% profit margin after expenses before aggressively scaling or diversifying.

• The importance of overcoming fear, imposter syndrome, and resistance to change.

• How coaching and mentorship can help entrepreneurs avoid costly mistakes and move faster.

• How some life insurance policies can be structured as part of a wealth-building and borrowing strategy.

• Why corporations and trusts can play a role in protecting and transferring family wealth.

• Why financial education is just as important as the money itself when building generational wealth.

  
  

Michael Carbonneau works with entrepreneurs and business owners on business growth, financial education, coaching, and wealth-building strategies. His approach focuses on helping people make better decisions, overcome business plateaus, diversify their income, and build structures that can support long-term financial freedom and family legacy.

Guest links: https://coachingbyrosewood.netlify.app/

https://www.facebook.com/profile.php?id=61589459195406

https://www.instagram.com/mike.it1/?hl=en

Connect with The Rodney Bull Show

Website: https://therodneybullshow.com

Instagram: https://www.instagram.com/therodneybullshow/

Facebook: https://www.facebook.com/profile.php?id=61586955773218

PodMatch: https://www.podmatch.com/hostdetailpreview/17689608734016028cb2110d2

YouTube: https://www.youtube.com/@TheRodneyBullShow

*language warning - episode contains some swearing*

Working hard doesn’t always mean building a business that gives you freedom. In this episode, Michael Carbonneau breaks down the mindset shift from being the person doing everything to becoming a true business owner and CEO — someone who builds systems, empowers others, and creates a business that can operate without them.

The conversation also goes deeper into financial literacy, retirement planning, coaching, accountability, and the importance of stepping back to identify the blind spots that can keep entrepreneurs stuck. If you’re constantly working in your business instead of on it, this episode offers plenty to think about.

• The difference between being self-employed and actually owning a business.

• Why a business should be able to operate without the owner handling every task.

• How delegation and strong leadership allow a company to scale.

• Lessons Michael learned after losing $50,000 on a poorly structured contract.

• Why separating payroll, taxes, profit, and growth funds can improve financial control.

• The importance of financial literacy, retirement planning, and investing wisely.

• How coaching and accountability can help entrepreneurs break through business plateaus.

• Why financial freedom is about owning cash-rich assets, not simply having expensive possessions.

• The importance of continuously reviewing, adjusting, and improving your business.

  
  

  About Michael Carbonneau

Michael Carbonneau helps entrepreneurs move from an operator mindset to CEO thinking through business coaching, financial education, leadership, and better systems. His approach focuses on helping business owners build stronger structures, protect their cash flow, and create greater financial freedom and long-term wealth.

Connect with The Rodney Bull Show

Website: https://therodneybullshow.com

Instagram:https://www.instagram.com/therodneybullshow/

Facebook: https://www.facebook.com/profile.php?id=61586955773218

PodMatch:https://www.podmatch.com/hostdetailpreview/17689608734016028cb2110d2

YouTube: https://www.youtube.com/@TheRodneyBullShow