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One approach to boost your debt payoff would be to decrease your interest rate. In case you have high-interest debt that you want to get a lower interest rate on, have a look at 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 like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% which is 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 publication is done, selling books can be a great method to create some serious residual income.

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

Do you have an extra room which you seldom use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of individuals use Airbnb to find a place 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 space 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 a month renting out their bedrooms.

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In case you have a website already then this is a no-brainer.  Some people are making over $50,000 per month just like Michelle who teaches others how to make money online with her class Making Sense of Affiliate Marketing.

In case you dont have a web site, you can begin one for less than $3/month. Thats the price for getting a website host a company that stores your site on servers so that 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 make passive income. That is because when folks click on the affiliate links on your site, you receive 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 sites exist to provide referrals to local businesses.

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

Within the website youd have links where people could click resources 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 cover you for the lead. Its a hot lead and not a cold lead, so professionals would be more willing to pay.

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

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

You can earn even more money by signing up with a special rewards shopping website. There are sites which will pay you every time you shop at certain online retailers.

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You just download the websites browser extension and each time youre on an e-commerce site 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.

With their dual cash back specials, then you can double your passive income earnings in the event the right things 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 extremely common.  Here's how it works: you make an online store that offers goods from certain manufacturers.