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One way to boost your debt payoff is to lower your interest rate. If you have high-interest debt you want to find a lower interest rate on, check out Credible, which features 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 like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% which is unreal.

Although 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 work of creating the book is done, selling novels can be a fantastic method to create some severe residual income.

Once your book can be found on a site like Amazon, you could receive a check each 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 additional 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 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 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 site already then this is a no-brainer.  Some people are making over $50,000 a month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.

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

Affiliate marketing can be a great way to make passive income. That is because when people 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 purchase a product or service.

Another way to produce passive income is to create a lead generation site. Lead generation websites exist to provide referrals to local businesses.

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

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The actual estate professional would cover you for have a peek here the lead. Its a warm lead and not a cold encounter, so professionals are more willing to pay.

You might also make money by having advertisers on your site. Note that you may have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your website near the top of search engine pages will be critical to success.

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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 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 that will pay you every time you shop at certain online retailers.

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You just 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 called Ebates, which will cover you $10 just for signing up.

Using their dual money back specials, you can double your passive income earnings if the right items go on sale.

Again, your earning strategy goes out the window if you purchase things you dont need simply to earn rewards. Just go on 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.