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One approach to speed up your debt payoff is to decrease your interest rate. In case you have high-interest debt you want to find a lower interest rate on, check out Credible, which features loan amounts 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 greater than traditional banks. CIT is currently are paying 1.55percent that's unreal.

While this wont make you filthy rich, it'll be a safer way to create 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 great way to create some serious residual income.

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

Do you have an extra room which you seldom use Why not rent it out to someone looking for a temporary 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 room following a suspect 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 website already then this really is a no-brainer.  Some people are making over $50,000 a month like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.

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

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

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

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

Within the website 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 area.

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

You could also make money by having advertisers on your website. Note that you may have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site near the top of search engine pages from this source would be critical for success.

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Did you know you can sell your own products on Amazon and have them even ship the goods for you I really 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 using a distinctive rewards shopping website. You will find sites which will pay you every time you shop at certain online retailers.

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

Using their dual money back specials, you can double your passive income earnings if the ideal things go on sale.

Again, your earning plan goes out the window if you buy things you dont need simply to earn rewards. Just go on your shopping as usual, and potentially earn a nice cash bonus in the process.

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