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One approach to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt you want to get a lower interest rate on, check out Credible, which offers loan amounts 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 1.55% that's unreal.

Although 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 book is done, selling novels can be a great method to create some severe residual income.

Once your book can be found on a website like Amazon, you can receive a check every month for doing 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 extra room that 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 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 guess leaves. This may 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 class Making Sense of Affiliate Marketing.

If you dont have a website, you can start one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your site on servers so 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 make passive income. This is because when folks click on the affiliate links on your website, you receive a commission at no additional cost to them. All they need to do is buy a service or product.

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

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So, lets say you produced a lead generation site that focuses on property. Youd use the website to educate individuals about home ownership. Or, youd educate them about property 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 cover you to the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.

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

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Did you know that you can sell your own products on Amazon and have them even send the products for you I really have a friend who has done very 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 website. There are websites that will pay you every time you shop at certain online retailers.

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You just download the sites browser extension and each time youre on an e-commerce website thats eligible for cash-back, youll get a notification. I use a free site named Ebates, which will cover you $10 just for signing up.

Using their double cash back specials, you can double your passive income earnings if the ideal 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 about your shopping as usual, and potentially earn a nice cash bonus you could try these out in the procedure.

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With the explosion of eCommerce, drop shipping has become very common.  Here's how it works: you make an online shop that provides products from certain manufacturers.