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One approach to speed up your debt payoff is to decrease your interest rate. In case you've got high-interest debt you want to get a lower interest rate on, check out 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 consider 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 task of creating the book is done, selling books can be a fantastic method to produce some serious residual income.

Once your book can be found on a website like Amazon, you can receive 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 publications, the more money youll make.

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 at a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after a suspect 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 spare bedrooms.

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

If you dont have a web site, you can start one for less than $3/month. Thats the price 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 terrific way to produce passive income. That is because when folks click on the affiliate links on your website, you receive a commission at no additional cost . All they need to do is buy a service or product.

Another way to make passive income is to make a lead generation site. Lead generation websites exist to provide referrals to local businesses.

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Therefore, lets say you produced check that a lead generation website which focuses on real estate. Youd utilize the site to educate individuals about home ownership. Or, youd educate them about property investing.

Within the site 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 area.

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

You could also make money by having advertisers on your website. Note that you may have 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 critical to achievement.

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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 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 website. There are websites that 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 site thats eligible for cash-back, youll receive a notification. I use a free site named Ebates, which will pay you $10 just for signing up.

Using their dual cash back specials, you can double your passive income earnings in the event the ideal items go on sale.

Again, your earning plan goes out the window if you purchase things you dont need simply to earn rewards. Just go about 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 make an online shop that provides goods from certain manufacturers.