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One approach to speed up your debt payoff is to decrease your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% for 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 like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.

While this wont make you filthy rich, it'll 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 publication is done, selling books can be a great method to produce some severe residual income.

Once your book can be found on a website like Amazon, you can receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the more time you spend marketing your books, the more money youll make.

Have you got an additional room which you seldom 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 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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If you've got 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 make money online with her course Making Sense of Affiliate moved here Marketing.

In case you dont have a web site, you can start one for less than $3/month. Recommended Reading Thats the price for getting a website 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 produce passive income. This is because when people click on the affiliate links on your site, you are given a commission at no additional cost . All they have to do is purchase a product or service.

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

Within the site 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 are more willing to pay.

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

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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 really have a friend who has 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 with a special rewards shopping website. There are sites which will pay you each time you shop at certain online retailers.

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You just download the websites browser extension and each time youre on an e-commerce website thats qualified for cash-back, youll get a notification. I use a free site named 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 the market.

Again, your earning strategy goes out the window if you purchase things you dont need just to earn rewards. Just go on 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 very popular.  Here's how it works: you create an online shop that offers goods from certain manufacturers.