Free Wi-Fi/hotspot on jailbreak iphone 4?

I have seen some things online about it but i'm the worst with technology. I have an iPhone 4 ios 6 jailbreak (which took me like 5 hour to do) I would like to know if anyone could give me a step by step process on how to make my phone a hotspot or have unlimited Wi-Fi. I have the Cydia app (which comes with the jailbreak) and I have Installous app as well. Also I would like to know if there's anyway i can get in app purchases for free.

Please AND Thank you TO EVERYONE WHO HELPS! =D

Step 1: Make sure your iPhone 4 is jailbroken

Step 2: Launch Cydia and search for "MyWi 4.0".

Step 3: Download and install the free MyWi trial then reboot your iPhone.

Step 4: Launch MyWi and tweak the settings to your liking:

Change the hotspot name
Change the channel
Enable Wep security
Enable USB/Bluetooth tethering

if you want the full version it cost like 20 dollars there maybe cheaper alternative though =]

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