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

Are you looking for a low-risk method to make passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% 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 work of creating the book is done, selling books can be a fantastic method to create some severe residual income.

Once your book can be found on a website like Amazon, you could get a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your books, the more money youll make.

Have you got an extra room that 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 somewhere 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 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've got a website already then this is a no-brainer.  Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.

In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your website on servers so that 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 produce passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost to them. All they need to do is purchase a product or service.

Another way to produce passive income is to make a lead generation website. Lead generation sites exist to give referrals to local businesses.

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Therefore, lets say you created 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 real estate investing.

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

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The real estate professional would pay you for the lead. Its a warm lead and not a cold encounter, so professionals would be 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) principles in order to make the website successful. Getting your website near the top of search engine pages will be vital to success.

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Did you know you can sell your own products on Amazon and have them even send the goods for you I actually have a friend who's done really well with this as he earns six figures per year selling his own products online.

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

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

With their double money back specials, 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 purchase things you dont need just to earn rewards. Just go about 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 make an online Homepage shop that offers products from certain manufacturers.