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One approach to speed up your debt payoff is to decrease your interest rate. In case you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk way to make passive income Then consider 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 which is unreal.

While 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 work of creating the publication is done, selling novels can be a fantastic way to produce some severe residual income.

Once your book is available on a website like Amazon, you can get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the longer you spend marketing your publications, the more money youll make.

Do you have an extra 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 space after 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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In case you have a site already then this really 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 web site, you can begin one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so it can be seen on the Internet.   Click here to find special pricing of $2.95/month with Bluehost.

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

Another way to produce 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 website which focuses on real estate. Youd utilize the site in order to educate individuals about home ownership. Or, youd educate them about property investing.

Within the website youd have links in which individuals could contact you to learn more. When someone Get More Information contacts you, you refer them to some real estate professional in their region.

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

You could also earn money by having advertisers on your site. Note that you would need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site near the top of search engine 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 very well with this 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 site. There are websites which will pay you every time you shop at certain online retailers.

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

With their dual cash back specials, you can double your passive income earnings if the ideal items go on sale.

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 process.

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With the explosion of eCommerce, drop shipping has become very popular.  Here's how it works: you create an online store that offers goods from certain manufacturers.