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One way to speed up your debt payoff is to decrease your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk way to produce passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.

While 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 great way to create some severe residual income.

Once your book is available on a website like Amazon, you could get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the more time you spend marketing your books, the more money youll make.

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 individuals use Airbnb to find a place 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 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 a month renting out their bedrooms.

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If you have a website 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 cost for getting a website sponsor a company that stores your site on servers so it can be seen on the Internet.   Click here to find 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 official statement website, you receive a commission at no additional cost . All they need to do click over here now is buy a service or product.

Another way to produce passive income is to make a lead generation website. 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 use the site in order to educate individuals about home ownership. Or, youd educate them about real estate investing.

Within the site youd have links where people 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 actual estate professional would pay you for the lead. Its a hot lead and not a cold lead, so professionals are more willing to pay.

You might also make money by having advertisers on your website. Note that you may have 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 look at this site 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 as he earns six figures per year selling his own products online.

You can earn even more money by signing up with a distinctive rewards shopping site. You will find sites that will pay you every time you shop at certain online retailers.

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You just download the websites browser extension and each time youre on an e-commerce website thats eligible for cash-back, youll receive a notification. I use a free website named Ebates, which will cover you $10 just for signing up.

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

Again, your earning strategy goes out the window if you buy things you dont need simply to earn rewards. Just go on 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 make an online shop that provides goods from certain manufacturers.