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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 get a lower interest rate on, have a look at Credible, which features loan amounts as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk method 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'll be a safer way to make consistent income and not lose your money since CIT FDIC insured.

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Once the initial task of creating the publication is done, selling novels can be a great way to create some severe residual income.

Once your book is available on a site like Amazon, you can get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your publications, the more money youll earn.

Do you have an additional room that 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 in a resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the room after a suspect leaves. This will 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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In case you have a site already then this is a no-brainer.  Some folks are making over $50,000 a month just like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.

If you dont have a web site, you can start one for less than $3/month. Thats the cost for getting a site host a company that stores your site on servers so it can be viewed on the Internet.   Click here to find special pricing of $2.95/month using Bluehost.

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

Another way to make passive income is to create a lead generation website. Lead generation sites exist to give 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 site in order to educate individuals about home ownership. Or, youd instruct them about real estate investing.

Within the website 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 cover you to the lead. Its a warm lead and visit not a cold lead, so professionals would be more willing to pay.

You might also earn 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 you can sell your own products on Amazon and have them even send their explanation the products for you I actually 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 using a special rewards shopping site. You will find websites that 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 website named Ebates, which will pay you $10 just for signing up.

Using their dual cash back specials, you can double your passive income earnings if the right things go on the market.

Again, your earning plan goes out the window if you buy 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 very popular.  Here's how it works: you make an online shop that offers goods from certain manufacturers.