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One approach to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk method to produce passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.

While this wont make you filthy rich, it will be a safer way to make consistent income and not lose your money since CIT FDIC insured.

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Once the initial work of creating the book is done, selling books can be a fantastic way to create some severe residual income.

Once your book is available on a site like Amazon, you could receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your books, the more money youll make.

Do you have an extra room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find a place to stay instead of staying in a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the space after a guess leaves. This may eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 a month renting out their bedrooms.

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If you have a site already then this really is a no-brainer.  Some people are making over $50,000 a month just like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.

If you dont have a website, more info here you can begin one for less than $3/month. Thats the price for getting a website host a company that stores your site on servers so it can be viewed on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a terrific way to make passive income. This is because when folks click on the affiliate links on your site, you are given a commission at no additional cost to them. All they have to do is buy a product or service.

Another way to make passive income is to make a lead generation site. Lead generation websites exist to give referrals to local businesses.

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Therefore, lets say you produced a lead generation site which focuses on real estate. Youd utilize the website in order to educate individuals about home ownership. Or, youd instruct them about property investing.

Within the site youd have links in which individuals could contact you to learn more. When someone contacts you, you refer them to a real estate professional in their region.

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The real estate professional would pay you to the lead. Its a hot lead and not a cold lead, so professionals are more willing to pay.

You might also earn money by having advertisers on your website. Note that you may need to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site at the top of search engine view pages would be critical to achievement.

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Did you know that you can sell your own products on Amazon and have them even ship the goods for you I actually have a friend who has done very well with this he makes six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive rewards shopping website. There are websites that will pay you every time you shop at certain online retailers.

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You simply download the sites browser extension and every time youre on an e-commerce website thats qualified for cash-back, youll get a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

With their double cash back specials, you can double your passive income earnings in the event the right items go on the market.

Again, your earning strategy goes out the window if you purchase things you dont need simply to earn rewards. Just go about your shopping as usual, and potentially earn a nice cash bonus in the procedure.

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With the explosion of eCommerce, drop shipping has become very common.  Here's how it works: you make an online shop that provides goods from certain manufacturers.