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One way to speed up your debt payoff would be to decrease 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 amounts as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk method to make passive income Then look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% which is 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 work of creating the book is done, selling novels can be a great way to produce some serious residual income.

Once your book can be found 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 vital. Obviously, the longer you spend marketing your books, the more money youll make.

Have you got an additional room that you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people 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 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 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 a month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.

In case you dont have a web site, 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 it can be viewed 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 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 product or service.

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

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

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The real estate professional would cover you for the lead. Its a hot lead and not a cold lead, so professionals are more willing to pay.

You might also earn money by having advertisers on your website. Note that you may need 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 for achievement.

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Did you know that you can sell your own products on Amazon and have them even ship the products for you I actually have a friend who has done really well with this as 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 site. There are sites that will pay you every 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 article notification. I use a free website called Ebates, which will cover you $10 just for signing up.

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

Again, your earning plan goes out the window if you purchase things you dont need just 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 extremely common.  Here's how it works: you create an online store that offers products from certain manufacturers.