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One approach to boost your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at Credible, which offers loan rates 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 like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% 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 publication is done, selling books can be a great method to create some serious residual income.

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

Do you have 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 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 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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In case you have a website already then this really is a no-brainer.  Some people are making over $50,000 a 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 web site, you can start one for less than $3/month. Thats the cost for getting a website host a company that stores your website on servers so that it can be viewed on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a great way to make 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 website. Lead generation sites exist to give warnings to local businesses.

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So, lets say you produced a lead generation website which focuses on real estate. Youd use the website to educate people about home ownership. Or, youd instruct 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 area.

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

You could also earn money by having advertisers on your site. Note that you would need to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site near the top of search engine pages would be critical to 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 Go Here I actually have a friend who has done really 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 site. There are websites which will pay you each time you shop at certain online retailers.

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You simply download the sites browser extension and each time youre on an e-commerce site 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.

Using their double money back specials, you can double your passive income earnings in the event the ideal items go on sale.

Again, your earning strategy goes out the window if you purchase things you dont need just 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 very common.  Here's how it works: you make an online store that provides products from certain manufacturers.