Key Takeaways
So far, you have learned how to make the most of the money you currently have. Now, if you want to accelerate that process, then you will simply need to make more money. Below are a few strategies for creating more money.
Strategies and Resources
Create Money:
- 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)
Make More Money:
- 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)
Terms
Productive Assets: are assets that can provide you with a stable monthly income. A rental income property or dividend-paying stocks are common examples, but another example is a business you own, either as an owner/operator or as a silent partner. Those can all be examples of productive assets.
Non-Productive Assets: are assets that depreciate in value and don’t provide you with an income. Some examples would be your car, boat, recreational vehicle, the furniture in your home, the clothes in your closet, etc.
Part-Time Job: a part-time job is a form of employment where you earn income, but work fewer hours per week than a full-time job.
Side Hustle: a side hustle is not a part-time job, but it is cash flow in addition to your primary job (and one day could potentially replace your primary job). A side-hustle is an asset that works for you; something that you completely control. Creating an online business where you get paid for teaching people how to get out of debt with WizeFi, would be an example of a side hustle.
Affiliate Marketing: Instead of creating and selling your own products, you can get paid for helping other people/businesses sell their products online.
Instructions
Create and make more money by reviewing and implementing as many strategies as possible from the list above. Then, click "Next" to proceed.