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One approach to speed up your debt payoff would be to decrease your interest rate. In case you've got high-interest debt you want to get 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 look at opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent which is unreal.

Although 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 book is done, selling books can be a great way to create some serious residual income.

Once your book is available on a website like Amazon, you could get a check each 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 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 resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the space following 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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If you've got a website already then this 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 Marketing.

In case 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 website on servers so that it can be seen on the Internet.   Click here to get special pricing of $2.95/month using Bluehost.

Affiliate marketing can be a terrific way to make 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 buy a service or product.

Another way to make passive income is to create a lead generation website. Lead generation sites exist to provide warnings to local businesses.

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Therefore, lets say you created a lead generation site which focuses on real estate. Youd utilize the site to educate people about home ownership. Or, youd educate i was reading this them about real estate investing.

Within the website youd have links where people could contact you to learn more. When someone contacts you, you refer them to a real estate professional in their area.

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

You might also make money by having advertisers on your site. Note that you may have to understand SEO (Search Engine Optimization) rules in order to make the website successful. Getting your site at the top of search engine pages will be critical to success.

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Did you know that you can sell your own products on Amazon and have them even ship the goods for you I actually have a friend who's done very well with this he makes six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive rewards shopping site. You will find websites which will pay you every 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 qualified for cash-back, youll get a notification. I use a free website named Ebates, which will cover you $10 just for signing up.

Using their double cash back specials, then you can double your passive income earnings in the event the right items go on the market.

Again, your earning plan goes out the window if you purchase things you dont need just to earn rewards. Just go about 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 products from certain manufacturers.