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One approach to boost your debt payoff is to lower your interest rate. If you've got high-interest debt that you want to get 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 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 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 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 great method to create some serious residual income.

Once your book can be found on a site like Amazon, you could get a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Evidently, the more time you spend marketing your books, the more money youll make.

Do you have an additional room which you seldom 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 in a hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the space after a guess leaves. This may 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 have a website 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 class Making Sense of Affiliate Marketing.

If you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site host a company that stores your website on servers so that it can be viewed on the Internet.   Click here to find special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a great way to produce passive income. This is because when folks click on the affiliate links on your website, you are given 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 site. Lead generation websites exist to give referrals to local businesses.

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

Within the site youd have links in which 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 real estate professional would cover you to the lead. Its blog a warm lead and not a cold encounter, so professionals are more willing to pay.

You might also earn money by having advertisers on your website. Note that you may need to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your website at 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 goods for you I really have a friend who's done very well with this as he earns six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive rewards shopping site. There are websites which 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 qualified for cash-back, youll receive a notification. I use Clicking Here a free website named 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 the market.

Again, your earning plan 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 process.

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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 offers products from certain manufacturers.