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One approach to speed up your debt payoff is to decrease your interest rate. In case 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 method 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 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 novels can be a great method to create some serious residual income.

Once your book can be found on a website like Amazon, you can receive 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 books, the more money youll make.

Have you got an extra room that you seldom 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 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 will 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 have a website already then this really is a no-brainer.  Some people 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 web site, you can begin one for less than $3/month. Thats the price for getting a site sponsor a company that webpage stores your site on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

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

Another way to make passive income is to create a lead generation site. Lead generation sites 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 in order to educate click now individuals about home ownership. Or, youd educate them about real estate investing.

Within the site youd have links in which 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 for the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.

You could also make money by having advertisers on your site. Note that you may have to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site at the top of search engine pages will be critical to achievement.

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Did you know that you can sell your own products on Amazon and have them even ship the products for you I actually have a friend who has done very well with this he makes six figures per year selling his own products online.

You can earn even more money by signing up with 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 see here just download the websites 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 named Ebates, which will pay you $10 just for signing up.

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

Again, your earning plan goes out the window if you buy things you dont need simply to earn rewards. Just go about your shopping as usual, and potentially earn a nice cash bonus in the process.

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