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One way to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt that you want to find a lower interest rate on, check out Credible, which offers 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 like CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55percent 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 publication is done, selling novels can be a great way to produce some severe residual income.

Once your book can be found on a website like Amazon, you can receive a check each month for doing 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 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 hotel, sometimes even for months at a time.

You can hire a maid service to clean and prep the space after a guess leaves. This will 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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In case you've got a website already then this 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.

If you dont have a website, you can begin one for less than $3/month. Thats the price for getting a site host a company that stores your website on servers so that it can be viewed on the Internet.   Click here to get 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 website, you receive a commission at no additional cost . All they have to do is purchase a product or service.

Another way to produce passive income is to make a lead generation site. Lead generation sites exist to provide warnings 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 informative post 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 some 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 encounter, so professionals are more willing to pay.

You might also earn money by having advertisers on your site. Note that you would have to understand SEO (Search Engine Optimization) principles in order to make the site 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 really have a friend who's done very 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 website. You will find sites which will pay you each time you shop at certain online retailers.

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

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

Again, your earning strategy goes out the window if you purchase things you dont need simply 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 shop that provides goods from certain manufacturers.