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One approach to speed up your debt payoff would be to lower your interest rate. If you have high-interest debt you want to find a lower interest rate on, check out Credible, which offers 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 that's 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 novels can be a great way to produce some serious residual income.

Once your book is available on a site like Amazon, you could receive a check every month for doing absolutely 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 earn.

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 individuals 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 after 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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If you've got a website already then this 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 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 website on servers so it can be seen on the Internet.   Click here to find special pricing of $2.95/month with 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 service or product.

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

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So, read here lets say you produced a lead generation site that focuses on property. Youd use the website to educate individuals 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 a real estate professional in their region.

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The real estate professional would pay you for the lead. Its a hot lead and not a cold encounter, 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 website successful. Getting your site near 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 ship the goods for you I really have a friend who's 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 with a special rewards shopping site. There are sites that will pay you every 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 double cash back specials, check out this site then you can double your passive income earnings if the right 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 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 popular.  Here's how it works: you make an online store that offers products from certain manufacturers.