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One way to speed up your debt payoff is to decrease your interest rate. In case you've got 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% to 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 like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% which is unreal.

Although 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 great method to produce some severe 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 essential. Evidently, the more time you spend marketing your books, the more money youll make.

Do you have an additional room that 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 at 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 a month renting out their spare bedrooms.

 

 

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

In case you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site host a company that stores your site 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 great way to produce passive income. This is because when folks click on the affiliate links on your site, you are given a commission at no additional cost to them. All they have to do is buy a product or service.

 

 

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

 

 

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

 

 

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Within the site review youd have links in which people 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 actual estate professional would cover you for the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.

 

 

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You could also make money by having advertisers on your site. Note that you would need to understand SEO (Search Engine Optimization) principles in order to make the site successful. Getting your site near 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 products for you I really have a friend who has done very well with this he makes six figures per year 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 each time you shop at certain online retailers.

 

 

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You just download the sites browser extension and each time youre on an e-commerce website thats qualified for cash-back, youll receive a notification. I use a free site called Ebates, which will cover you $10 just for signing up.

With their dual cash back specials, then you can double your passive income earnings in the event the ideal items 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 normal, and potentially earn a nice cash bonus in the procedure.

 

 

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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 offers goods from certain manufacturers.

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