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One approach to speed up your debt payoff would be to lower your interest rate. If you have high-interest debt that you want to get 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 make 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.

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 books can be a great way to produce some serious residual income.

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

Do you have an additional room that you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people use Airbnb to find somewhere to stay instead of staying in a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room 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 spare bedrooms.

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In case you've got a website already then this really is a no-brainer.  Some folks are making over $50,000 a month just like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.

If you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so that it can why not try this out 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 are given a commission at no additional cost to them. All they need to do is buy a product or service.

Another way to make passive income is to make a lead generation website. Lead generation websites exist to give 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 to educate people about home ownership. Or, youd instruct them about real estate investing.

Within the website youd have links where individuals 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 real estate professional would cover you for the lead. Its a hot lead and not a cold encounter, so professionals are more willing to pay.

You could also earn money by having advertisers on your website. Note that you would 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 be critical for achievement.

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Did you know 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 as he earns six figures per year selling his own products online.

You can earn even more money by signing up with a special rewards shopping website. There are sites which will pay you each 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 eligible 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 double money back specials, you can double your passive income earnings if the ideal things go on the market.

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

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