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One approach to boost your debt payoff would be to lower your interest rate. If you've got high-interest debt you want to find a lower interest rate on, check out Credible, which offers 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 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.

While this wont make you filthy rich, it will 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 book is done, selling novels can be a fantastic method to create some serious residual income.

Once your book is available on a website like Amazon, you can receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your books, the more money youll earn.

Have you got an extra room which 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 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 space following 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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If you've got 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 class Making Sense of Affiliate Marketing.

In case 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 website on servers so that it can be seen on the Internet.   Click here to find special pricing of $2.95/month using Bluehost.

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

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

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So, lets say you created a lead generation website that focuses on real estate. Youd utilize the website in order to educate people about home ownership. Or, youd educate them about real estate investing.

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

You might also earn money by having advertisers on your site. Note that you would need 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 for success.

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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'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 special rewards shopping site. There are 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 each 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 pay you $10 just for signing up.

With their dual cash back specials, then you can double your passive income earnings in the event the right things go on the market.

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

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