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One approach to speed up your debt payoff is to decrease your interest rate. In case you've got high-interest debt you want to find 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 way to produce passive income Then consider 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 1.55% that's unreal.

Although this wont make you filthy rich, it'll 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 great method to create some severe residual income.

Once your book can be found on a website like Amazon, you could get a check each 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 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 following 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 spare bedrooms.

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In case you've got a website already then this is a no-brainer.  Some folks are making over $50,000 per month just like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.

In case you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a website sponsor a company that stores your website on servers so that it can be seen 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. This is because when people click on the affiliate links on your site, you receive a commission at no additional cost . All they have to do is purchase a service or product.

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

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

Within the website youd have links in which people 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 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 site. Note that you may need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your website at the top of search engine pages will be vital to achievement.

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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 very well with this he makes 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 websites which will pay you every 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 site 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 cash back specials, then helpful site you can double your passive income earnings if 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 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 very common.  Here's how it works: you make an online shop that provides goods from certain manufacturers.