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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, 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 make 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 1.55percent which is unreal.

While 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 book is done, selling books can be a fantastic way to create some serious residual income.

Once your book is available on a website like Amazon, you could get 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.

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 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 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 a month renting out their spare bedrooms.

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If you've got a website already then this 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 class Making Sense of Affiliate Marketing.

If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a site sponsor 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 produce 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 need to do is purchase a product or service.

Another way to produce passive income is to create a lead generation site. Lead generation websites exist to give warnings to local businesses.

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Therefore, lets say you created a lead generation site that focuses on real estate. Youd utilize the site to educate individuals about home ownership. Or, youd instruct them about property investing.

Within the website youd have links in Website 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 are more willing to pay.

You might also make 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 website near the top of search engine pages would be vital to achievement.

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Did you know you can sell your own products on Amazon and have them even ship the products for you I really have a friend who has done very well with this as he makes 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 which web 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 site thats qualified for cash-back, youll get a notification. I use a free website 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 strategy 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 procedure.

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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 provides goods from certain manufacturers.