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One way to boost your debt payoff is to decrease your interest rate. If you have high-interest debt you want to get a lower interest rate on, have a look at Credible, which offers loan amounts as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk method to produce 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 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 task of creating the book is done, selling novels can be a fantastic method to produce some serious residual income.

Once your book can be found on a website like Amazon, you can receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your publications, the more money youll make.

Do you have an additional room which 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 a place to stay instead of staying at a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the space following 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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In case you have 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 earn money online with her class Making Sense of Affiliate Marketing.

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

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

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

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So, lets say you created a lead generation website which focuses on real estate. Youd use the site to educate people 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 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 are 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) rules in order to make the site successful. Getting your website at the top of search engine pages would be vital for success.

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Did you know 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 as he makes six figures per year selling his own products online.

You can earn even more explanation money by signing up with a distinctive rewards shopping site. You will find 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 website 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.

Using their double money back specials, then you can double your passive income earnings in the event the ideal things go on sale.

Again, your earning strategy goes out the window if you purchase things you dont need simply to earn rewards. Just go about 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 common.  Here's how it works: you create an online store that offers products from certain manufacturers.