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One approach to boost your debt payoff would be to lower your interest rate. In case you've got high-interest debt you want to find a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk method to produce 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 1.55percent 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 novels can be a fantastic method to produce some serious residual income.

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

Have you got an extra 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 a place 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 space 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 site already then this really is a no-brainer.  Some folks are making over $50,000 a month like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.

In case you dont have a web site, you can begin one for less than $3/month. Thats the cost for getting Click Here a site sponsor a company that stores your site on servers so that it can be viewed on the Internet.   Click here to get 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 . All they need to do is purchase a product or service.

Another way to make passive income is to make a lead generation website. Lead generation sites exist to give referrals to local businesses.

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So, lets say you created a lead generation site which focuses on real estate. Youd use the site in order to educate people about home ownership. Or, youd educate them about real estate investing.

Within the website youd have links in which individuals could contact you to learn more. When someone contacts you, you refer them to some real estate professional in their area.

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

You might also make money by having advertisers on your website. Note that you would have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting their explanation your site near the top of search engine pages would be vital for 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 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 with a special rewards shopping website. There are websites which will pay you every 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 receive a notification. I use a free site called Ebates, which will pay you $10 just for signing up.

With their dual cash back specials, you can double your passive income earnings in the event the ideal things go on sale.

Again, your earning plan goes out the window if you buy things you dont need just to earn rewards. Just go about 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 extremely common.  Here's how it works: you make an online store that offers products from certain manufacturers.