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One way to speed up your debt payoff would be to lower your interest rate. In case you have high-interest debt you want to get a lower interest rate on, have a look at 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 greater than traditional banks. CIT is currently are paying 1.55% 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 work of creating the publication is done, selling novels can be a fantastic way to create some severe residual income.

Once your book can be found on a website like Amazon, you could receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the longer you spend marketing your publications, the more money youll make.

Do you have an additional room which 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 at a resort, 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 bedrooms.

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If you've got a website already then this is a no-brainer.  Some folks are making over $50,000 a 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 cost for getting a site host a company that stores your site 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 produce passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost . All they have to do is buy published here a service or product.

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

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Therefore, lets say you produced a lead generation website which 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 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 area.

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

You might 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 site successful. Getting your site at the top of search engine pages would be critical to success.

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Did you know that you can sell your own products on Amazon and have them even ship the goods for you I really have a friend who's 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 using a special rewards shopping website. There are websites that will pay you each time you shop at certain online retailers.

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

With their double 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 purchase things you dont need just 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 make an online store that offers products from certain manufacturers.