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One approach to speed up your debt payoff would be to decrease 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 make passive income Then look at 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 1.55% 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 severe residual income.

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

Do you have an additional room that you rarely 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 hotel, 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 per month renting out their spare bedrooms.

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In case you've got a website already then this is a no-brainer.  Some people are making over $50,000 a month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.

In case you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site host a company that stores your site on servers so it can be viewed 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 folks click on the affiliate links on your website, you are given a commission at no additional cost . All they need to do is buy a product or service.

Another way to make passive income is to create a lead generation website. Lead generation websites exist my link to provide warnings to local businesses.

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So, lets say you produced a lead generation website which focuses on property. Youd use the site 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 a real estate professional in their area.

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The real 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 site. Note that you would need to understand SEO (Search Engine Optimization) rules in order to make the site successful. Getting your site near the top of search engine pages would be critical 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'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 with a special rewards shopping site. There are websites that will pay you each time you shop at certain online retailers.

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You simply download the websites click over here now browser extension and each time youre on an e-commerce site thats eligible for cash-back, youll receive a notification. I use a free website 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 in the event the right items 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 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 shop that provides goods from certain manufacturers.