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One approach to boost your debt payoff is to decrease your interest rate. In case you've got high-interest debt that you want to find 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 method 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 more 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 create 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 way to produce some severe residual income.

Once your book is available on a site like Amazon, you can get a check every month for doing 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.

Have you got an extra room that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of people use Airbnb to find somewhere 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 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 make 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 price for getting a website sponsor a company that stores your site on servers so 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 people click on the affiliate links on your website, you receive a commission at no additional cost . All they need to do is purchase a service or product.

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

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So, lets say you created a lead generation site which focuses on real estate. Youd use the site to educate people about home ownership. Or, youd educate them about property investing.

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Within the site youd have links where individuals could contact you to learn more. When someone contacts you, you refer them to a real estate professional in their region.

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The real estate professional would pay you to the lead. Its a warm lead and not a cold encounter, so professionals are more willing to pay.

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

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Did you know you can sell your own products on Amazon and have them even ship the goods for you I actually have a friend who has done really well with this he makes 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 every 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 eligible for cash-back, youll receive a notification. I use a free site called Ebates, which will pay you $10 just for signing up.

With their double cash back specials, you can double your passive income earnings in the event the right things go on the market.

Again, your earning plan goes out the window if you purchase things web link you dont need simply 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 popular.  Here's how it works: you make an online shop that offers goods from certain manufacturers.

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