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

Are you looking for a low-risk method to make passive income Then look at opening a high-yield savings account with an online bank such as 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 will be a safer way to make consistent income and not lose your money since CIT FDIC insured.

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Once the initial task of creating the publication is done, selling novels can be a great way to create some severe residual income.

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

Have you got an additional room that you rarely 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 hotel, 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've got a website already then this really is a no-brainer.  Some people are making over $50,000 a month 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 cost for getting a website host a company that stores your site on servers so it can be viewed 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. This is because when folks click on the affiliate links on your website, you receive a commission at no additional cost . All they have to do is purchase a service or product.

Another way to make passive income is to make a lead generation site. Lead generation websites exist to give referrals 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 in order to educate individuals about home ownership. Or, youd educate them about property 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 actual estate professional would cover you for the lead. Its a hot lead and not a cold lead, so professionals would be more willing to pay.

You might also earn money by having advertisers on your website. Note that you may have 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 vital for achievement.

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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 actually have a friend who's 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 distinctive rewards shopping website. There are sites that will pay you every time helpful site 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 site thats eligible for cash-back, youll receive a notification. I use a free site called Ebates, which will cover you $10 just for signing up.

Using their double cash back specials, you can double your passive income earnings if the right things go on the market.

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

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With the explosion of eCommerce, drop shipping has become very popular.  Here's how it works: you create an online store that offers products from certain manufacturers.