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One approach to speed up your debt payoff would be to lower your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan rates 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 such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% 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 work 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 site like Amazon, you could receive a check each month for doing absolutely 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 earn.

Have you got an additional room that 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 in a hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after a guess 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 bedrooms.

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In case you've got a site already then this is a no-brainer.  Some folks are making over $50,000 per month like Michelle who teaches others how to make money online with her class Making Sense of Affiliate additional reading Marketing.

If you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site host a company that stores your site on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

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

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

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

Within the website 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 area.

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

You could 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 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 check my reference as he makes six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive rewards shopping site. You will find sites 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 qualified for cash-back, youll receive a notification. I use a free website called Ebates, which will pay you $10 just for signing up.

Using their dual money back specials, then you can double your passive income earnings if the right items go on the market.

Again, your earning strategy goes out the window if you purchase things you dont need simply to earn rewards. Just go on your shopping as normal, 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 store that provides products from certain manufacturers.