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One way to speed up your debt payoff would be to lower your interest rate. In case you've got high-interest debt that you want to get 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 way to produce passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% that's 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 can receive a check each month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your books, the more money youll make.

Do you have an additional room which 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 hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the space 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 bedrooms.

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If you have a site already then this really is a no-brainer.  Some folks are making over $50,000 per month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.

In case you dont have check my reference a web site, you can start one for less than $3/month. Thats the price for getting a website sponsor a company that stores your site on servers so that it can be viewed on the Internet.   Click here to find special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a great way to produce passive income. This is because when folks click on the affiliate links on your site, 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 make a lead generation site. Lead generation sites exist to provide referrals to local businesses.

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So, lets say you created a lead generation site which focuses on property. great site Youd use the site to educate people about home ownership. Or, youd educate them about property investing.

Within the site youd have links in which people could contact you to learn more. When someone contacts you, you refer them to some real estate professional in their region.

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The actual estate professional would pay you for the lead. Its a warm lead and not a cold lead, so professionals would be more willing to pay.

You could also make money by having advertisers on your website. Note that you may have 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 to 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 really have a friend who's 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 with a distinctive rewards shopping site. There are websites that will pay you every 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 site thats eligible for cash-back, youll get a notification. I Recommended Reading use a free site named Ebates, which will cover you $10 just for signing up.

With their double money back specials, then you can double your passive income earnings in the event 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 normal, 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 goods from certain manufacturers.