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One approach to speed up your debt payoff is to decrease your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, check out 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 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 1.55% which is unreal.

Although this wont make you filthy rich, it will 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 books can be a great way to produce some severe 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 vital. Evidently, the longer you spend marketing your books, the more money youll earn.

Do you have 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 at a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after a suspect 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 bedrooms.

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

In case you dont have a web site, you can begin one for less than $3/month. Thats the cost for getting a website sponsor a company that stores your website on servers so it can be viewed on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a terrific way to produce passive income. That 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 produce passive income is to create a lead generation see page website. Lead generation sites 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 utilize the site in order to educate people about home ownership. Or, youd educate them about property investing.

Within the website youd have links in which people could contact you to learn more. When someone contacts you, you refer them to some 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 encounter, so professionals would be description 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 website successful. Getting your site near the top of search engine pages would be vital to achievement.

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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 really have a friend who's done really well with this as 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 website. You will find websites that will pay you every time you shop at certain online retailers.

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You simply download the sites browser extension find more information and each time youre on an e-commerce site thats qualified for cash-back, youll get a notification. I use a free website named Ebates, which will pay you $10 just for signing up.

With their dual cash back specials, then you can double your passive income earnings if the ideal things go on sale.

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 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 make an online store that provides goods from certain manufacturers.