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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 offers 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 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 book is done, selling novels can be a fantastic method to produce some serious residual income.

Once your book can be found on a website 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 books, the more money youll earn.

Have you got an extra room that you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people use Airbnb to find somewhere to stay instead of staying in a hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the space following 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 a month renting out their spare bedrooms.

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In case you've got a site already then this 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 class Making Sense of Affiliate Marketing.

In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a website host 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 great way to produce passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost to them. All they need to do is buy a product or service.

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

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

Within the site 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 would be more willing to pay.

You could also earn money by having advertisers on your website. Note that you would have to understand SEO (Search Engine Optimization) principles in order to make the website successful. Getting your site at the top of search This Site engine pages will be critical to achievement.

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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 as he makes six figures per year selling his own products online.

You can earn even more money by signing up using a special rewards shopping website. There are sites which 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 qualified for cash-back, youll get a notification. I use a free site named Ebates, which will pay you $10 just for signing up.

Using their double money back specials, then 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 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 very common.  Here's how it works: you make an online store that offers products from certain manufacturers.