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One approach to speed up your debt payoff is to lower your interest rate. In case you've got high-interest debt that you want to find a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% to 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 make 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 way to create some serious residual income.

Once your book can be found on a website like Amazon, you could get 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.

Have you got an extra room which you rarely use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of individuals use Airbnb to find somewhere to stay instead of staying at a hotel, 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 per month renting out their spare bedrooms.

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If you have a site already then this is a no-brainer.  Some people are making over $50,000 a month just 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 begin one for less than $3/month. Thats the price for getting a site sponsor a company that stores your website on servers so that it can be website link seen on the Internet.   Click here to find special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a terrific 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 need to do is purchase a product or service.

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

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

Within the website youd have links where 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 hot lead and not a cold encounter, so professionals would be more willing to pay.

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

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Did you know you can sell your own products on Amazon and have them even send the goods for you I really have a friend who has done really 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 distinctive rewards shopping site. 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 every time youre on an e-commerce website thats eligible for cash-back, youll receive a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

With their double money back specials, you can double your passive income earnings if the right items go on sale.

Again, your earning strategy goes out the window if you buy 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 extremely common.  Here's how it works: you make an online store that offers products from certain manufacturers.