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One approach to boost your debt payoff is to lower your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which offers 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 consider 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% that's unreal.

Although 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 books can be a fantastic method to produce some serious residual income.

Once your book can be found on a site like Amazon, you can get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your publications, 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 individuals 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 space 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 per month renting out their spare bedrooms.

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In case you've got a website 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.

In case you dont have a website, you can start one for less than $3/month. Thats the price 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 find special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a great way to produce passive income. This is because when people click Continue 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 make passive income is to create a lead generation website. Lead generation websites exist to provide warnings to local businesses.

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

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

You might also earn money by having advertisers on your site. Note that you would 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 for success.

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Did you know that 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 as he earns six figures per year selling his own products online.

You can earn even more money by signing up using a special rewards shopping website. There are websites that will pay you every 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 qualified for cash-back, youll receive a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

Using their dual cash 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 extremely common.  Here's how it works: you create an online store that provides products from certain manufacturers.