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One approach to speed up your debt payoff is to decrease your interest rate. In case you have high-interest debt you want to get a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk way to make 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% that's 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 publication is done, selling novels can be a great method to produce some severe residual income.

Once your book is available on a site like Amazon, you could get a check each month for doing nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your books, the more money youll earn.

Do you have an additional 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 in a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room 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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If you've got a website already then this really is a no-brainer.  Some people are making over $50,000 per month like Michelle who teaches others how to make money online with her class 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 website sponsor a company that stores your website on servers so that it can be viewed on the Internet.   Click here to find special click here to read pricing of $2.95/month with Bluehost.

Affiliate marketing can be a great way to produce passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost to them. All they need to do is purchase a product or service.

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 produced a lead generation website that focuses on real estate. Youd use the website in order to educate individuals about home ownership. Or, youd educate them about real estate investing.

Within the website youd have links where 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 for the lead. Its a websites hot lead and not a cold encounter, so professionals are 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 site successful. Getting your website near the top of search engine pages would be critical for 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 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. There are sites that will pay you every time you shop at certain online retailers.

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

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

Again, your earning plan goes out the window if you buy things you dont need simply to earn rewards. Just go about your shopping as normal, and potentially earn a nice cash bonus in the process.

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With the explosion of eCommerce, drop shipping has become very popular.  Here's this website how it works: you make an online shop that provides products from certain manufacturers.