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One approach to boost your debt payoff would be to lower your interest rate. If you have 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 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 create 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 create some severe residual income.

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

Have you got an extra room that 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 room 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 per month renting out their bedrooms.

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

In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site 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 produce passive income. This is because when people click on the affiliate links on your site, you receive a commission at no additional cost . All they need to do is read what he said buy a product or service.

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

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Therefore, lets say you created a lead generation site that focuses on property. Youd use the site in order to educate individuals about home ownership. Or, youd educate them about real estate investing.

Within the site youd have links where people could contact you to learn more. When someone contacts you, you refer them to some real estate professional in their region.

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The real estate professional would pay you to the lead. Its a hot 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 need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site at the top of search engine pages will be critical for achievement.

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Did you know that you can sell your own products on Amazon and have them even send the goods for you I actually have a friend who has done really well with this he makes six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive 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 sites browser extension and each time youre on an e-commerce site thats qualified for cash-back, youll receive a notification. I use a free website called Ebates, which will pay you $10 just for signing up.

With their dual cash 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 about your shopping as normal, and potentially earn a nice cash bonus in the procedure.

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With the explosion of eCommerce, drop shipping has become extremely common.  Here's how it works: you make an online shop that provides goods from certain manufacturers.