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One approach to boost your debt payoff would be to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, have a look at 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.

While 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 work of creating the book is done, selling novels can be a great way to produce some severe residual income.

Once your book is available 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 essential. Obviously, the more time you spend marketing your books, the more money youll earn.

Do you have an additional room which you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people use Airbnb to find somewhere 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 room after 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 a month renting out their bedrooms.

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If you have a site already then this is a no-brainer.  Some folks are making over $50,000 a month like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.

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

Affiliate marketing More Help can be a terrific way to produce passive income. That is because when folks click on the affiliate links on your website, you receive a commission at no additional cost to them. All they have to do is buy more a product or service.

Another way to produce passive income is to create a lead generation website. Lead generation sites exist to provide warnings to local businesses.

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Therefore, lets say you created a lead generation site which focuses on real estate. Youd utilize the website in order to educate people about home ownership. Or, youd instruct them about property 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 real estate professional would cover you for the lead. Its a warm lead and not a cold lead, so professionals would be more willing to pay.

You could 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 site at the top of search engine pages will be vital for achievement.

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Did you know that 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 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. You will find websites which will pay you every time you shop at certain online retailers.

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You just download the websites browser extension and each time youre on an e-commerce site thats qualified for cash-back, youll get a notification. I use a free website named Ebates, which will pay you $10 just for signing up.

With their dual cash back specials, then you can double your passive income earnings if the ideal items go on the market.

Again, your earning strategy 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 popular.  Here's how it works: you make an online store that provides goods from certain manufacturers.