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One approach to speed up your debt payoff would be to decrease your interest rate. If you have 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 method to produce passive income Then look at 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 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 fantastic way to create some severe residual income.

Once your book is available on a site like Amazon, you could 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 that you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find somewhere to stay instead of staying at a hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after 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 bedrooms.

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In case you have a site already then this is a no-brainer.  Some folks are making over $50,000 a 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 start one for less than $3/month. Thats the price for getting a site sponsor a company that stores your site on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a great way to make passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost . All they have to do is buy a service or product.

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

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Therefore, lets say you produced a lead generation website which focuses on property. Youd utilize the website to educate individuals about home ownership. visit the site Or, youd educate them about property investing.

Within the website 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 real estate professional would cover you to the lead. Its a warm lead and not a cold encounter, so professionals would be more willing to pay.

You could also make money by having advertisers on your site. Note that you would have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site at the top of search engine pages would be vital 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'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 special rewards shopping website. You will find sites which will pay this post 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 get a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

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

Again, your earning strategy goes out the window if you purchase 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 make an online shop that offers products from certain manufacturers.