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One way to boost your debt payoff is to lower your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which offers loan rates as low as 4.99% to 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 1.55percent that's unreal.

While this wont make you filthy rich, it'll be a safer way to make 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 produce some serious residual income.

Once your book is available on a website like Amazon, you could get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll earn.

Do you have an additional room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of individuals 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 bedrooms.

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If you have a site already then this really is a no-brainer.  Some folks are making over $50,000 per month 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 start one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your site on servers so it can be viewed 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 . All they need to do is buy a service or product.

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

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Therefore, lets say you created a lead generation site that focuses on property. 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 area.

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The actual estate professional would cover you for the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.

You might 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 website successful. Getting your website at the top of search engine pages would be critical for success.

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Did you know anchor you can sell your own products on Amazon and have them even send the products for you I really 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 with a distinctive rewards shopping site. You will find websites 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 website thats qualified for cash-back, youll get a notification. I use a free website named Ebates, which will pay you $10 just for signing up.

With 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 plan goes out the window if you buy 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 popular.  Here's how it works: you make an online shop that provides products from certain manufacturers.