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One way to speed up your debt payoff is to decrease your interest rate. In case you've got 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 make passive income Then consider 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 1.55percent 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 work of creating the book is done, selling novels can be a great way to produce some severe residual income.

Once your book is available on a website like Amazon, you could receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your publications, the more money youll earn.

Do you have an additional room which you rarely use Why not rent it out to someone looking for a temporary 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 room after 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 per month renting out their spare bedrooms.

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If you've got a website already then this is a no-brainer.  Some folks are making over $50,000 a month just 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 begin one for less than $3/month. Thats the price for getting a site host a company that stores your site on servers so that it can be seen on the Internet.   Click here to find special pricing of $2.95/month using Bluehost.

Affiliate marketing can check it out be a terrific way to produce passive income. This is because when folks 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 site. Lead generation websites exist to give referrals to local businesses.

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

Within the website youd have links where individuals 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 pay you for the lead. Its a warm lead and not a cold encounter, so professionals would be more willing to pay.

You might also earn money by having advertisers on your site. Note that you would need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site at the top of search engine pages will be critical for 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 really have a friend who's done very well with this 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 sites that will pay you every time you shop at certain online retailers.

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

Using their double cash back specials, then you can double your passive income earnings if the right things 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 on 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 popular.  Here's how it works: you create an online store that provides goods from certain manufacturers.