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One way to boost your debt payoff would be to decrease your interest rate. If you've got high-interest debt that 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 make 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 that's unreal.

While 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 great way to produce some serious residual income.

Once your book is available on a site like Amazon, you could get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll earn.

Have you got an extra room which you seldom use Why not rent it out to someone looking for a temporary 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 room after 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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If you have a site already then this is a no-brainer.  Some folks 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 web site, 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 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. This is because when folks click on the affiliate links on your website, you are given a commission at no additional cost to them. All they have to do is purchase a product or service.

Another way to make passive income is to make a lead generation site. Lead generation websites exist to provide warnings to local businesses.

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So, lets say you created a lead generation website which focuses on property. Youd use the website in order to educate individuals about home ownership. Or, youd instruct them about property investing.

Within the website youd have links where 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 actual estate professional would pay you for the lead. Its a hot lead and not a cold lead, so professionals would be more willing to pay.

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

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Did you know you can sell your own products on Amazon and have them even ship the goods for you I actually have a friend who has 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 special rewards shopping site. There are websites that will pay you every time you shop at certain online retailers.

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

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

Again, your earning strategy goes out the window if you buy things you dont need just 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 extremely common.  Here's how it works: you make an online store that provides products from click to investigate certain manufacturers.