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One approach to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to find a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk way to produce passive income Then look at opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.

While this wont make you filthy rich, it'll be a safer way to make 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 novels can be a fantastic way to produce some serious residual income.

Once your book can be found on a website like Amazon, you could receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Evidently, the more time you spend marketing your books, 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 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 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 site already then this really is a no-brainer.  Some people are making over $50,000 per month just like Michelle who teaches others how to make money online with her class Making Sense official site of Affiliate Marketing.

If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a site sponsor a company that stores your site see it here on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a terrific 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 service or product.

Another way to produce passive income is to make a lead generation website. Lead generation websites exist to give warnings to local businesses.

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Therefore, lets say you created a lead generation website that focuses on property. Youd use the website in order to educate individuals about home ownership. Or, youd instruct 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 cover you to the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.

You might also make money by having advertisers on your site. 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 will be vital to success.

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Did you know you can sell your own products on Amazon and have them even ship the products for you I really have a friend who has 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 site. You will find websites that 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 website 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.

With their double money back specials, then you try here can double your passive income earnings if the ideal things go on sale.

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