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One way to speed up your debt payoff is to decrease your interest rate. If you have high-interest debt you want to find a lower interest rate on, have a look at Credible, which features loan rates as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk method to produce passive income Then consider opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.

While 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 novels can be a fantastic method to produce some severe residual income.

Once your book can be found on a site like Amazon, you could get a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your publications, 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 individuals use Airbnb to find a place 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 following 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 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 a 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 website, you can start one for less than $3/month. Thats the cost have a peek at these guys for getting a site host a company that stores your site on servers so it can be viewed on the Internet.   Click here to get 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 to them. All they have to do is purchase a product or service.

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

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Therefore, lets say you produced a lead generation website which focuses on property. Youd utilize the website in order to educate individuals about home ownership. Or, youd instruct them about property investing.

Within the site youd have links in which 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 real estate professional would pay you to the lead. Its a warm lead and not a cold lead, so professionals would be more willing to pay.

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

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Did you know that 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 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. You will find websites which will pay you each time you shop at certain online retailers.

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You just download the sites browser extension and every 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 pay you $10 just for signing up.

With their double money back specials, you can double your passive income earnings if the ideal things go on the market.

Again, your earning plan goes out the window their website 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 process.

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