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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 find a lower interest rate on, check out Credible, which offers 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 look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% 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 work of creating the book is done, selling novels can be a fantastic method 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. Evidently, the more time you spend marketing your publications, the more money youll make.

Have you got an extra 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 a place 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 following 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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If you have a website 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.

In case you dont have a website, 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 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. This is because when folks click on the affiliate links on your website, you receive a commission at no additional cost to them. All they need to do is purchase a service or product.

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

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

Within the website youd have links in which individuals could 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 pay you for the lead. Its a warm lead and not a cold lead, so professionals are more willing to pay.

You could also earn money by having advertisers on your site. Note that you would need to understand SEO (Search Engine Optimization) principles in order to make the website successful. Getting your site at the top of search engine pages will be vital to achievement.

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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 really have a friend who has done really 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. There are 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 each time youre on an e-commerce site thats qualified for cash-back, youll get a notification. I use a free site called Ebates, which will pay you $10 just for Recommended Reading signing up.

With their dual 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 purchase 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 very common.  Here's how it works: you create an online shop that provides goods from certain manufacturers.