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One approach to speed up your debt payoff is to lower your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, have a look at Credible, which offers loan rates as low as 4.99% to 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% 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 task of creating the book is done, selling books can be a fantastic way to create some severe residual income.

Once your book can be found on a site like Amazon, you could get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time 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 temporary rental on Airbnb.  Millions of people use Airbnb to find somewhere 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 per month renting out their bedrooms.

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

In case you dont have a web site, you can start one for less than $3/month. Thats the price for getting a site sponsor a company that stores your site on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month with Bluehost.

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

Another way to produce passive income is to create a lead generation site. Lead generation sites exist to give referrals to local businesses.

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So, lets say you produced a lead generation site that focuses on real estate. Youd use the website in order to educate people about home ownership. Or, youd instruct 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 a real estate professional in their region.

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The real estate professional would cover you to the lead. Its a warm lead and not a cold lead, so professionals would go to website be more willing to pay.

You could also make money by having advertisers on your website. 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 ship the products for you I really have a friend who's done very well with this as Check Out Your URL he earns six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive rewards shopping site. There are sites which will pay you each time you shop at certain online retailers.

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

Using their double cash back specials, you can double your passive income earnings if the right items 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 about 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 extremely common.  dig this Here's how it works: you make an online store that provides goods from certain manufacturers.