As mentioned before, you were chosen as a WizeFi Ambassador because we believe your mission aligns with ours and you serve your customers in one [or several] of the 5 categories of WizeFi: income, assets, debts, budget, and insurance.
This step illustrates the depth of how WizeFi helps people per category. Below, you will find more in-depth information, strategies, and resources (separated by category) so you know how to make the most of servicing your audience with WizeFi.
Income
While WizeFi does focus on helping people make the most of the money they earn each month, we also provide strategies and resources for creating more income and earning more income.
Resources and strategies for creating income:
- Nonproductive asset swapping. Sell nonproductive assets on craigslist and Facebook Marketplace. Check out this article on how to use Craigslist and Facebook Marketplace to make more money selling your stuff. (coming soon)
- Productive asset swapping. This is an advanced technique for getting out of debt that includes using money from a brokerage account or selling off real estate equity. Check out this article on strategies for swapping non-productive assets to get out of debt. (coming soon)
- Cash out a life insurance policy. This is another advanced techinque, so be sure to check out this article on how and if you should cash out your life insurance policy to get out of debt. (coming soon)
- Adjust paycheck tax contribution by adjusting how your income is taxed. To learn how to accomplish this, check out this article on adjusting your paycheck tax contribution. (coming soon)
- Make the most of your work benefits. Do you know all of the benefits you can receive from your employer? Check out this article on how to make the most of your work benefits. (coming soon)
Resources and strategies for earning income:
- Ask for a raise at work. Obviously, you can't be ill-prepared on this one, so be sure to check out this article on how to give yourself the best chance at getting a raise at work. (coming soon)
- Get a part-time job. Check out this article on the highest earning part-time jobs and how to get started. (coming soon)
- Start a side hustle. Check out this article on the most lucrative side hustles and how to get started. (coming soon)
- Share WizeFi. Did you know you can earn income, potentially a lot of income, just by sharing WizeFi? Check out this article on the benefits of sharing WizeFi and how to get started sharing. (coming soon)
- Create an affiliate business. You've probably heard about people making six figures or more from building a blog. Check out this article on how an affiliate business works, the time/work required, and the benefits (coming soon). Then, check out our step-by-step course on building a six figure affiliate business. (coming soon)
Assets (Investing)
There are 3 types of assets: productive assets, non-productive assets, and limited assets. WizeFi helps people focus on maximizing their productive assets.
Resources and Strategies:
- Need to fill in
Insurance
There are several ways to protect your assets:
- Setting up a business entity
- Setting up a trust
- Homesteading your house
- Life insurance
- Disability insurance
The most important types of asset protection are life insurance and disability insurance because they protect your most important asset, your ability to earn an income. You're not buying insurance because of what you can gain, but rather, what you could lose, without it.
Resources and Strategies:
- Need to fill in
Liabilities
There are two kinds of debt, productive debt and non-productive debt. WizeFi promotes the use of productive debt for applicable members as well as encourages our members to pay-off non-productive debt as quickly as possible.
For liability resources and strategies, check out the Debt Free, Financially Free course (specifically steps 1-4). Each step of the course has strategies and resources broken down in a step-by-step guide for getting out of debt 30% faster than other programs, on average.
Budget
In the WizeFi Platform Training Course, you would experience how a member is shown that their budget is not being as effective as it could be. First, WizeFi organizes their money into categories and then provides a guideline with a goal of creating as much CAFR as possible to apply towards building wealth.
Once a member has cut back on a few categories, they then want to know how they're going to actually cut back the money in those categories. So, WizeFi provides articles for strategies on how to be most effective per budget category:
Giving
- Don't give money while in debt. This one is hard to swallow, but check out the article to read why this one is important. Check out this article on when you should give with money. (coming soon)
Housing
- Move to a new home. Use your plan to determine if you're spending too much in housing, moving to a less expensive home can relieve a lot of CAFR.
- Rent a room. If you own your own home, check out this article on how to rent out a room(s) in your home using AirBnB. (coming soon)
- Rent space on your property. Most people don't know, but you can actually rent just space on your property for people to camp, park, and more. To learn more, check out this article on how to rent out property space using... (coming soon)
- Buy in bulk. Costco is a great way to shop in bulk, but sometimes they don't have everything or the amount you need. Check out this article on 30 items to buy annually on Amazon to save you hundreds per year. (coming soon)
- DIY home repairs.
- DIY yard care.
- Lower your water bill. Check out these 16 ways you can lower your water bill each month. (coming soon)
- Lower your electric bill. Check out these 12 ways you can lower your electric bill each month. (coming soon)
Transportation
- Sell your car. Are your car payments too high? It might be a good idea to sell your car and purchase something cheaper. Are you unsure of how to sell your car for the most money and purchase your next car for the best quality, but lowest cost? Check out this article on the smartest way to buy and sell your vehicle. (coming soon)
- Rent your car. Maybe you can do without your car part time, so why not rent out for the times you're not using it? Check out this article on how to rent your vehicle. (coming soon)
- Service your vehicle regularly. This might sound like you're spending more money, but statistically, taking care of your vehicle with proper tire rotations, oil changes, correct gas, and much more, can reduce the risk of an expensive fix (aka more debt). Check out this article on efficient and inexpensive ways to take care of your vehicle. (coming soon)
- Lower your car insurance rates. Check out this article that compares different auto insurances to make sure you're getting the lowest coverage for the best price. (coming soon)
- Plan your errands. Spend less on gas and less wear and tear on your vehicle.
- Carpool to work. Save on gas and get to work faster using the carpool lane.
- Drive slow and safely. When you have debt, unexpected costs like a ticket or accident are the most costly because it usually means going into more debt. So, drive safely to ensure you're not acquiring any tickets and increasing your insurance rates. Not to mention driving slower saves on gas.
- Be a gas rewards member. Gas companies are fighting for you to be loyal to them and they are giving incentives to do so. Check out this article on gas companies who member rewards. (coming soon)
- Work from home. Only use this option if your company will allow it and it makes sense for your lifestyle because working from home can potentially be more distracting and disruptive in many ways.
- Walk or ride your bike. Do you live close to work? Try biking to cut down on gas costs. Don't have a bicycle yet? Check out this article on inexpensive bicycle's you can purchase online, based on your activity. (coming soon)
- Take public transportation. Especially if you work in a city, taking the subway, bus, metro, Uber, and more, can prove to save you money. Check out this article if you need help in deciding the smartest mode of transportation for you. (coming soon)
- Wash your own car. Check out this article on a few inexpensive car wash items we recommend for protecting your car and your wallet. (coming soon)
Food
- Stop eating out. On average, food is 4x more expensive when eating out.
- Meal prepping. Expensive eating habits are most often due to poor meal planning and the need for something quick and easy. Check out this article on how meal prepping and eating healthy can save you hundreds per month. (coming soon)
- Start couponing. Coupons are a great way to save but don't buy what you don't need, just because you have a coupon. Couponing actually has quite a few strategies, check out this article on the smartest way to coupon. (coming soon)
- Buy store brands. 99% they are cheaper and there's a good chance you won't be able to tell the difference. For everyday items, check out this article on foods you can order online for cheap. (coming soon)
- Grocery shop with a list. Fortunately, you know how much you have to spend on groceries, based on your WizeFi plan. Create a grocery plan that fits within your budget before you go to the store.
- Grow your own food. Build a garden to help cut back on costs. Check out this article on how to grow your own garden. (coming soon)
- Shop seasonally. Want your food to taste better and be cheaper? Then, shop seasonally. Check out this article on when each food is in season. (coming soon)
- Make coffee at home. We know this doesn't sound as fun, but the latte factor by David Bach is a great analogy describing the power a small amount of cash flow has on your future net worth. Check out this article on quality coffee makers with low prices. (coming soon)
Health/Insurance
- Lower your insurance premiums. Check out this article on paying less for the right health insurance. (coming soon)
Clothing
- Shop online. Check out this article on strategies for shopping online for what you want, while staying inside your budget.
- Wait for sales. Know what kind of clothes you want ahead of time and then wait for them to go on sale, but be careful to only buy what you need.
- Avoid designer labels. Try to stick t0 sales racks, thrift stores, and consignment stores.
- Don't purchase trending items. Instead, purchase versatile clothing that can be used with multiple outfits and seasons.
- Wear layers instead of buying new clothes.
- Know when you to purchase. Buy clothes at the end of a season. For more shopping strategies, check out this article on 5 strategies for shopping smarter.
Entertainment
- Be surrounded by people like you. People tend to spend more money on entertainment because they want to live a lifestyle they wish they had and are willing to spend money they don't have (aka going into more debt). Stay connected to people who are in the same place in life as you. Join the WizeFi community and be with others who can relate to your struggles and wins and would love to hear about it! Click here to join the WizeFi community. (coming soon)
- Avoid expensive hobbies. Instead of $150 golf trips or mani/pedi's from the spa, check out this article for inexpensive activities to do alone or with the family. (coming soon)
- Cut cable. Instead of paying cable, try Netflix or Hulu for less than $15/month and continue your movie nights for cheap! Not sure which one to choose? Check out this article that compares Netflix and Hulu. (coming soon)
- Leave the gym. Instead of gym costs, try workouts you can do at home or the park. Check out this article for recommendations on free apps to workout from home.
- Free date nights. Dating doesn't have to be expensive, check out this article on 101 free date ideas. (coming soon)
Liabilities
Find the category(s) that apply to your audience and learn about all the benefits of how WizeFi can best serve your audience. Utilize the strategies and resources in each category as needed.
Notes
Consider making each section in this page about how specifically WizeFi helps people with each category and then let the Ambassador know where they can find further info rather than just displaying the resources directly on this page (ex: income)