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One approach to speed up your debt payoff would be 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 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 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 1.55% which is 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 novels can be a fantastic way to produce some serious residual income.

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

Have you got an additional room which you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of individuals use Airbnb to find a place to stay instead of staying at a hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the space following a suspect 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 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 course Making Sense of Affiliate Marketing.

In case you dont have a website, you can begin one for less than $3/month. Thats the price for getting a website 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. That is because when people click on the affiliate links on your site, you receive a commission at no additional cost resource . All they need to do is purchase a product or service.

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

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

Within the website 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 pay you for the lead. Its a hot lead and not a cold encounter, so professionals are more willing to pay.

You might also earn money by having advertisers on your site. Note that you may have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site at the top of search engine pages will be vital for success.

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Did you know that you can sell your own products on Amazon and have them even send the products for you I actually have a friend who's done really well with this 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 website. You will find websites which will pay you every time you shop at certain online retailers.

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You simply 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 named Ebates, which will cover you $10 just for signing up.

With their dual money back specials, then you can double your passive income earnings if the ideal items 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 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 popular.  Here's how it works: you create an online store that offers products from certain manufacturers.