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One approach to boost your debt payoff is to lower your interest rate. If you've got high-interest debt you want to get a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% to refinancing your credit card debt.

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

Although 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 task of creating the book is done, selling books can be a great way to produce some severe residual income.

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

Have you got an extra room which you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of individuals 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 suspect leaves. This will eliminate work on your end and make it truly passive income. My friend Steve and his wife make over $1000 per month renting out their bedrooms.

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

If you dont have a web site, you can begin one for less than $3/month. Thats the cost for getting a site 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 using Bluehost.

Affiliate marketing can be a great way to produce passive income. This is because when folks click on the affiliate links on your site, you receive a commission at no additional cost . All they need to do is buy a service or product.

Another way to make passive income is to create a lead generation website. Lead generation sites exist to provide warnings to local businesses.

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Therefore, lets say you created a lead generation site that focuses on property. Youd use the site in order to educate people about home ownership. Or, youd educate them about property investing.

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

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The actual estate professional would cover you to the lead. Its a warm lead and not a cold lead, so professionals would be more willing to pay.

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

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

You can earn even more money by signing up with a special rewards shopping website. There are sites that will pay you each time you shop at certain online retailers.

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

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

Again, your earning strategy goes out the window if you buy things you dont need just to earn rewards. Just go on your shopping as normal, and potentially earn a nice cash bonus in the procedure.

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