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One approach to boost your debt payoff would be to lower your interest rate. In case you've got high-interest debt you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk way to produce passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% 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 publication is done, selling books can be a fantastic way to produce some serious residual income.

Once your book can be found on a website like Amazon, you could get 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 publications, the more money youll make.

Have you got an extra room which you rarely 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 at a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room following a guess 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've got 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 make money online with her course Making Sense of Affiliate Marketing.

In case you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site sponsor a company that stores your site 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. That is because when people click on the affiliate links on your site, you receive 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 make a lead click here to read generation site. Lead generation sites exist to provide referrals to local businesses.

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Therefore, lets say you produced a lead generation website which focuses on real estate. Youd utilize the site to educate people about home ownership. Or, youd educate them about property investing.

Within the website youd have links where individuals 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 cover you to the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.

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

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Did you know you can sell your own products on Amazon and have them even ship the goods for you I really have a friend who has done very 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 special rewards shopping site. There are sites which will pay you each time you shop at certain online retailers.

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

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

Again, your earning plan goes out the window if you buy things you dont need simply to earn rewards. Just go on your shopping as usual, 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 store that offers goods from certain manufacturers.