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One approach to speed up your debt payoff is to decrease your interest rate. In case you've got high-interest debt you want to find a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk method 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 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 website like Amazon, you can receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your books, the more money youll earn.

Have you got an extra 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 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 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 per month renting out their bedrooms.

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If you've got a website already then this really is a no-brainer.  Some people are making over $50,000 a month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.

If you dont have a website, you go to these guys can start one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so that it can be seen on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a great 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 . All they need to do is purchase a service or product.

Another way to make passive income is to create a lead generation site. Lead generation websites official source exist to provide warnings to local businesses.

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So, lets say you produced a lead generation site that focuses on property. Youd use the site to educate people about home ownership. Or, youd instruct them about property investing.

Within the site 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 area.

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

You might also earn 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 will be vital to success.

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

You can earn even more money by signing up using a special rewards shopping site. You will find websites that will pay you each 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 eligible for cash-back, youll get a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

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

Again, your earning strategy goes out the window if you purchase things you dont need just to earn rewards. Just go on your shopping as usual, and potentially earn a nice cash bonus in the process.

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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 offers goods from certain manufacturers.