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One approach to speed up your debt payoff is to lower your interest rate. If you have 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 way to produce 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 1.55% which is unreal.

While this wont make you filthy rich, it will 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 publication is done, selling books can be a fantastic method to create some severe residual income.

Once your book is available on a site like Amazon, you can receive a check every 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 extra 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 a place 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 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 have a site already then this is a no-brainer.  Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her course 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 seen on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a great way to make passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost . All they need to do is buy a product or service.

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

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

Within the site 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 area.

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

You could also make money by having advertisers on your site. Note that you would have to understand SEO Read Full Article (Search Engine Optimization) rules in order to make the site successful. Getting your website near the top of search engine pages would be vital to achievement.

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

You can earn even more money by signing up using a special rewards shopping site. There are sites that will pay you each time you shop at certain online retailers.

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

With their double cash back specials, you can double your passive income earnings if check out this site the right items go on sale.

Again, your earning strategy goes out the window if you purchase things you dont need just to earn rewards. Just go about your shopping as usual, advice 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 shop that offers products from certain manufacturers.