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One approach to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% for 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 greater than traditional banks. CIT is currently are paying 1.55percent which is unreal.

Although 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 book is done, selling novels can be a fantastic way to create some severe residual income.

Once your book can be found on a website 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 that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people use Airbnb to find a place 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 room 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 spare bedrooms.

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If you've got a site already then this really is a no-brainer.  Some folks are making over $50,000 a month 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 begin one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so that it can be viewed on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a terrific way to produce passive income. This is because when people click on the affiliate links on your website, you receive a commission at no additional cost to them. All they need to do is purchase a product or service.

Another way to produce passive income is to make a lead generation site. Lead generation sites exist to provide referrals to local businesses.

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Therefore, lets say you created a lead generation website that focuses on property. Youd utilize the website in order to educate individuals about home ownership. Or, youd instruct them about property investing.

Within the site youd have links where people could contact you to learn more. When someone contacts you, you refer them to some real estate professional in their region.

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

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

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Did you know that you can sell your own products on Amazon and have them even send the products for you I really have a friend who has done very 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 site. There are sites that 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 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, then you can double your passive income earnings in the event the ideal things go website link on sale.

Again, your earning strategy goes out the window if you buy things you dont need just 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 very popular.  Here's how it works: you make an online store that offers goods from certain manufacturers.