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One way to speed up your debt payoff is to decrease your interest rate. If you've got high-interest debt that you want to find a lower interest rate on, have a look at 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 look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.

Although this wont make you filthy rich, it will 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 publication is done, selling novels can be a great way 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 absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the longer 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 will 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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In case you have a website already then this really is a no-brainer.  Some people are making over $50,000 per month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.

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

Affiliate marketing can be more a terrific way to make passive income. This is because when folks click on the affiliate links on your site, you are given 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 websites exist to provide warnings to local businesses.

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Therefore, lets say you created a lead generation site which focuses on real estate. Youd utilize the site in order to educate individuals about home ownership. Or, youd instruct them about real estate investing.

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

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

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

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

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

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You simply 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 website called Ebates, which will cover you $10 just for signing up.

With their dual money back specials, you can double your passive income earnings in the event the ideal items go on the market.

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

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With the explosion of eCommerce, drop shipping has become extremely popular.  Here's how it works: you create an online store that offers goods from certain manufacturers.