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One way to speed up your debt payoff is to decrease your interest rate. In case you've got high-interest debt you want to find 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 consider 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 1.55percent that's unreal.

While 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 book 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 could receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your books, the more money youll make.

Do you have an additional room which 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 after 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 a month renting out their spare bedrooms.

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If you have a website 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 course Making Sense of Affiliate Marketing.

If you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site sponsor 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 with Bluehost.

Affiliate marketing can navigate to this website be a terrific way my website to produce passive income. This is because when folks click on the affiliate links on your site, you receive a commission at no additional cost . All they have to do is buy a service or product.

Another way to make passive income is to make 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 property. Youd use the site to educate people about home ownership. Or, youd educate them about property investing.

Within the website youd have links in which people 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 actual estate professional would cover you to the lead. Its a hot lead and not a cold lead, so professionals would be 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 site successful. Getting your website near the top of search engine pages will be critical 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'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 with a special rewards shopping website. You will find sites which 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 qualified for cash-back, youll receive a notification. I use a free site called Ebates, which will cover you $10 just for signing up.

Using their double cash back specials, then you can double your passive income earnings in the event the ideal 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 on your shopping as usual, and potentially earn a nice cash bonus in the procedure.

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