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One approach 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 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 look at 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 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 task of creating the publication is done, selling novels can be a fantastic way to create some serious residual income.

Once your book is available on a website like Amazon, you could receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll earn.

Do you have an additional room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find somewhere to stay instead of staying at 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've got 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.

If 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 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. That is because when people click on the affiliate links on your website, you receive a commission at no additional cost to them. All they have to do is buy a service or product.

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

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

Within the site youd have links in which individuals could right here 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 real estate professional would cover you for the lead. Its a hot lead and not a cold lead, so professionals are more willing to pay.

You could also make money by having advertisers on your site. Note that you may need to understand SEO (Search Engine Optimization) principles in order to make the website successful. Getting your website at the top of search engine pages would be vital to success.

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Did you know that you can sell your own products on Amazon and have them even send the products 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 with a distinctive rewards shopping site. There are sites that will pay you each time you shop at certain online retailers.

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

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

Again, your earning plan goes out the window if you purchase things you dont need just to earn rewards. Just go on 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 provides products from certain manufacturers.