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One way to speed up your debt payoff is to decrease your interest rate. If you've got high-interest debt you want to get 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 produce 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 1.55percent 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 novels can be a great method to produce some severe residual income.

Once your book is available on a site like Amazon, you can receive a check each 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 make.

Have you got an extra room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of individuals 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 room following 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 folks 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.

In case you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a site host a company that stores your website on servers so that it can be viewed on the Internet.   Click here to find special pricing of $2.95/month check here 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 to them. All they need to do is buy a service or product.

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

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

Within the site youd have links where 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 real estate professional would pay you to the lead. Its a hot lead and not a cold encounter, so professionals are more willing to pay.

You might also make money by having advertisers on your website. Note that you may have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your website at the top of search 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 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 distinctive rewards shopping website. There are websites that will pay you each time you shop at certain online retailers.

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You just download the sites browser extension and each 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 pay you $10 just for signing up.

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

Again, your earning strategy goes out the window if you buy things you dont need simply to earn rewards. Just go on 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 common.  Here's how it works: you create an online store that offers products from certain manufacturers.