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One approach to speed up your debt payoff would be to decrease your interest rate. In case you have high-interest debt that you want to get 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 look at 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% 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 task of creating the publication is done, selling novels can be a fantastic way to produce some serious residual income.

Once your book is available on a website 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.

Have you got an additional room which you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of individuals use Airbnb to find a place to stay instead of staying in a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room following a guess 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 per 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 website, you can begin one for less than $3/month. Thats the cost for getting a website host a company that stores your site on servers so that it can be viewed on the Internet.   Click here to find special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a terrific way to produce passive income. This is because when folks click on the affiliate links on your site, you are given 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 site. Lead generation sites exist to provide warnings to local businesses.

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

Within the site youd have links in which people could contact you to original site learn more. When someone contacts you, you refer them to a real estate professional in their area.

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

You might also make money by having advertisers on your site. Note that you would have to understand SEO (Search Engine Optimization) principles in order to make the website successful. Getting your site near the top of search engine visit their website pages will be critical for success.

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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 really have a friend who has done really well with this as 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 every 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 site thats eligible for cash-back, youll receive a notification. I use a free website named Ebates, which will pay you $10 just for signing up.

Using their double cash back specials, you can double your passive income earnings in the event the right things go on sale.

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