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One approach to boost your debt payoff is to lower your interest rate. In case you have high-interest debt 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 way to produce passive income Then consider 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.

Although 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 book is done, selling books can be a fantastic method 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. Evidently, the longer you spend marketing your publications, the more money youll earn.

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 individuals 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 following 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 per month renting out their bedrooms.

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

In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site sponsor 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. 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 have to do is buy a product or service.

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

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

Within the site 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 region.

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The actual estate professional would pay you to 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 website. Note that you may have to understand SEO (Search Engine Optimization) principles in order to make the website successful. Getting your website at the top of search engine pages would be vital to success.

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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 has done really 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 site. There are sites that will pay you each time you shop at certain online retailers.

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You simply download the sites browser extension and every time youre on an e-commerce website thats eligible for cash-back, youll receive a notification. I use a free site named Ebates, which will cover you $10 just for signing up.

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

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 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 go to my site popular.  Here's how it works: you create an online store that offers goods from certain manufacturers.