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One approach to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt 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 produce passive income Then consider 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.

Although this wont make you filthy rich, it'll be a safer way to create consistent income and not lose your money since CIT FDIC insured.

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Once the initial task of creating the publication is done, selling novels can be a fantastic way to create some serious residual income.

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

Do you have an additional room which you seldom 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 at 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 a month renting out their spare bedrooms.

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If you've got a website already then this really 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 class Making Sense of Affiliate Marketing.

In case you dont This Site have a web site, you can begin one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your site on servers so it can be viewed on the Internet.   Click here to find 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 website, you receive a commission at no additional cost to them. All they have to do is purchase a service or product.

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

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Therefore, lets say check out here you produced a lead generation website which focuses on real estate. Youd utilize the site to educate individuals about home ownership. Or, youd instruct them about real estate 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 region.

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The actual estate professional would cover you for the lead. Its a hot lead and not a cold lead, so professionals are more willing to 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 site successful. Getting your site near the top of search engine pages would be critical for success.

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

You can earn even more money by signing up with a special rewards shopping website. There are websites that will pay you every 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 site thats eligible for cash-back, youll receive a notification. I use a free website named Ebates, which will cover you $10 just for signing up.

With their dual money back specials, then you can double your passive income earnings in the event the right things go on sale.

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

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