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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 that you want to find a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% to 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 more than traditional banks. CIT is currently are paying 1.55% which is 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 work of creating the publication is done, selling novels can be a fantastic way to produce some serious residual income.

Once your book can be found on a site like Amazon, you can receive a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your books, 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 short-term rental on Airbnb.  Millions of people 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 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 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 per month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.

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

Affiliate marketing can be a great way to make 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 have to do is buy a service or product.

Another way to make passive income is to make a lead generation website. Lead generation sites exist to give warnings to local businesses.

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Therefore, lets say you produced a lead generation website that focuses on real estate. Youd use the site in order to educate people about home ownership. Or, youd instruct them about property investing.

Within the website 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 area.

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

You might also earn money by having advertisers on your site. Note that you may 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 will be vital for achievement.

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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's 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 distinctive rewards shopping website. There are websites that will pay you each time you shop at certain online retailers.

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You simply download the websites browser extension and every time youre on an e-commerce site thats qualified for cash-back, youll get a notification. I use a free website named click here to read Ebates, which will pay you $10 just for signing up.

Using their double money back specials, you can double your passive income earnings in the event the right 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 normal, and potentially earn a nice cash bonus in the process.

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