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One approach to speed up your debt payoff is to decrease your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk method to make 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% which is 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 books can be a great method to produce some severe residual income.

Once your book can be found on a site like Amazon, you could 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 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 guess leaves. This will 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 have a site already then this is a no-brainer.  Some folks 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.

In case you dont have a website, you can begin 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 terrific way to produce passive income. This is because when folks click on the affiliate links on your site, you are given a commission at no additional cost . All they need to do is purchase a product or service.

Another way to make passive income is to make a lead generation site. Lead generation sites exist to give warnings to local businesses.

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So, lets say you created a lead generation website that focuses on real estate. Youd use the website to educate people about home ownership. Or, youd instruct them about real estate investing.

Within the website 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 warm lead and not a cold lead, so professionals would be more willing to pay.

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

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Did you know you can sell your own products on Amazon and have them even ship the products for you I really have a friend who's done really well with this as he makes six figures useful reference per year selling his own products online.

You can earn even more money by signing up with a special rewards shopping website. You will find sites that will pay you each time you shop at certain online retailers.

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You just download the websites browser extension and every time youre on an e-commerce site thats eligible for cash-back, youll receive a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

Using their dual cash back specials, 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 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 extremely popular.  Here's how it works: you make an online shop that offers products from certain manufacturers.