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One way to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt you want to get a lower interest rate on, check out Credible, which features loan rates as low as 4.99% for 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 more 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 task of creating the book is done, selling novels can be a great method to create some severe residual income.

Once your book can be found on a website like Amazon, you can receive a check every month for doing absolutely 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 rarely 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 space following a suspect 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 spare bedrooms.

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If you have a site already then this is a no-brainer.  Some folks are making over $50,000 a month 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 site sponsor a company that stores your site 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 terrific way to produce passive income. That is because when people click on the affiliate links on your website, you receive a commission at no additional cost to them. All they need to do is purchase a service or product.

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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So, lets say you produced a lead generation website which focuses on real estate. Youd utilize the site to educate people about home ownership. Or, youd instruct them about real estate 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 actual estate professional would pay you to the lead. Its a warm lead and not a cold lead, so professionals are more willing to pay.

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

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Did you know that you can sell your own products on Amazon and have them even ship the products for you I really have dig this a friend who's 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 site. You will find websites which will pay you every 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 site thats eligible for cash-back, youll receive a notification. I use a free site called Ebates, which will cover you $10 just for signing up.

Using their dual money back specials, you can double your passive income earnings in the event the right things 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 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 common.  Here's how it works: you create an online shop that offers products from certain manufacturers.