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One way to boost your debt payoff is to lower your interest rate. In case you have high-interest debt that you want to find 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.

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 work of creating the book is done, selling novels can be a fantastic method to create some serious residual income.

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

Have you got an extra room that you seldom 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 resort, 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 per month renting out their bedrooms.

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In case you have a website already then this really 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 course Making Sense of Affiliate Marketing.

In case you dont have a web site, you can begin one for less than $3/month. Thats the cost 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 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 website, you receive a commission at no additional cost . All they have to do is buy a product or service.

Another way to produce passive income is to make a lead generation website. Lead generation sites exist to provide warnings to local businesses.

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

Within the website youd have links in news which 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 actual estate professional would pay you to the lead. Its a warm lead and not a cold encounter, so professionals would be more willing to pay.

You could also earn money by having advertisers on your website. Note that you would 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 for achievement.

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Did you know that you can sell your own products on Amazon and have them even ship the products for you I actually have a friend who has 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 special 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 sites browser extension and every time youre on an e-commerce website thats eligible 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, then you can double your passive income earnings if the right things go on the market.

Again, your earning strategy 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 process.

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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.