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One way to speed up your debt payoff would be to lower 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 offers loan rates as low as 4.99% to 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 1.55percent that's unreal.

Although 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 task of creating the book is done, selling novels can be a great way to create some serious residual income.

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

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 individuals use Airbnb to find somewhere to stay instead of staying in a hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after 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 have a website already then this is a no-brainer.  Some folks are making over $50,000 per month just like Michelle who teaches others how to earn money online with her class Making Sense of Affiliate Marketing.

If you dont have a web site, you can begin 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 seen on the Internet.   Click here to get 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 website, you receive this content a commission at no additional cost to them. All they need to do is purchase a product or service.

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 produced a lead generation site which focuses on property. Youd utilize the website in order to educate individuals about home ownership. Or, youd educate them about property investing.

Within the site 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 area.

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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 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 send the products for you I really have a friend who's 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 with a special rewards shopping site. There are sites that will pay you each time you shop at certain online retailers.

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You just download the sites browser extension and each time youre on an e-commerce website thats eligible for cash-back, youll get a notification. I use a free website named Ebates, which will pay you $10 just for signing up.

Using their double cash back specials, you can double your passive income earnings if the ideal items go on the market.

Again, your earning strategy goes out the window if you buy things you dont need just 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 very common.  Here's how it works: you create an online store that provides goods from certain manufacturers.