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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, 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 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 1.55percent which is 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 publication is done, selling books can be a fantastic method to produce some severe residual income.

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

Do you have 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 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 per month renting out their bedrooms.

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

In case you dont have a website, you can begin one for less than $3/month. Thats the cost for getting a website host a company that stores your website on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

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

Another way to produce passive income is to create a lead generation site. Lead generation sites exist to give warnings to local businesses.

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Therefore, lets say you produced a lead generation website which focuses on real estate. Youd use the site 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 some real estate professional in their region.

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

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

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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'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 site. There are websites that will pay you each time you shop at certain online retailers.

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

Using their double cash back specials, you can double your passive income earnings if the ideal items go on the market.

Again, your earning plan 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 process.

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