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One way to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt you want to find a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk method to make passive income Then look at 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 1.55% 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 fantastic method to create some serious residual income.

Once your book can be found on a site like Amazon, you can receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your books, the more money youll earn.

Have you got an extra room that you rarely 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 in a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room 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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In case you've got a site already then this really is a no-brainer.  Some people are making over $50,000 per month just like Michelle who teaches others how to earn 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 host a company that stores your site on servers so that it can be viewed on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a terrific way to produce passive income. That is because when important site folks click on the affiliate links on your site, you receive a commission at no additional cost to them. All they have to do is buy a service or product.

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

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So, lets say you created a lead generation website that focuses on property. Youd use the site in order to educate individuals about home ownership. Or, youd educate 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 some real estate professional in their area.

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The actual estate professional would cover you to the lead. Its a hot lead and not a cold encounter, so professionals are more willing to pay.

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

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

You can earn even more money by signing up with a distinctive rewards shopping site. There are sites that will pay you every time you shop at certain online retailers.

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You just download the websites browser extension and every time youre on an e-commerce website thats qualified for cash-back, youll get a notification. I use a free website called Ebates, which will pay you $10 just for signing up.

Using their double money back specials, you can double your passive income earnings if the ideal items go on sale.

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

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