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One approach to speed up your debt payoff is to lower your interest rate. If you have high-interest debt that you want to find a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to 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 like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent 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 work of creating the book is done, selling books can be a great method to produce some serious residual income.

Once your book can be found on a website 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. Evidently, the longer 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 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 room following a suspect 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 just 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 cost for getting a site sponsor a company that stores your website on servers so it can be seen on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

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

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Another way to produce passive income is to make a lead generation website. Lead generation sites exist internet to provide referrals to local businesses.

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

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Within the website youd have links where 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 real estate professional would cover you to the lead. Its a hot lead and not a cold lead, so professionals would be more willing to pay.

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You could also make money by having advertisers on your website. Note that you may have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site at the top of search engine pages will be critical to success.

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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's done very well with this 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 website. You will find websites which will pay you each time you shop at certain online retailers.

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

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

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 usual, 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 web an online store that offers products from certain manufacturers.

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