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One way to boost your debt payoff is to lower your interest rate. In case you've got high-interest debt that you want to find a lower interest rate on, check out Credible, which offers loan rates 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 greater than traditional banks. CIT is currently are paying 1.55% which is unreal.

While 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 create some severe residual income.

Once your book is available 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. Obviously, the longer you spend marketing your books, the more money youll earn.

Do you have an extra room which you rarely 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 space following 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 spare bedrooms.

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

If you dont have a web site, you can start one for less than $3/month. Thats the cost for getting a website host a company that stores your website on servers so that 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. This is because when people click on the affiliate links on your site, you are given a commission at no additional cost . All they have to do is purchase a product or service.

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

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Therefore, lets say you produced a lead generation website which focuses on real estate. Youd utilize the website in order to educate people about home ownership. Or, youd instruct them about property investing.

Within the website 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 region.

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

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

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Did you know you can sell your own products on Amazon and have them even ship the goods for you I actually have a friend who's 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 with a special rewards shopping site. You will find sites that will pay you each time you shop at website link certain online retailers.

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

With their dual cash back specials, you can double your passive income earnings in the event the ideal items 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 about 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 common.  Here's how it works: you make an online store that provides goods from certain manufacturers.