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One approach to boost your debt payoff is to decrease your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% for refinancing your credit card debt.

Are you looking for a low-risk way to make passive income Then look at opening a high-yield savings account with an online bank like CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55% that's unreal.

While 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 publication is done, selling novels can be a great method to produce some severe residual income.

Once your book can be found on a site 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 earn.

Have you got an additional room which you seldom 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 in 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 a month renting out their spare bedrooms.

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If you've got a website already then this really 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.

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

Affiliate marketing can be a terrific 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 to them. All they need to do is purchase a product or service.

Another way to make passive income is to make a lead generation site. Lead generation websites exist to provide referrals to local businesses.

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So, lets say you created a lead generation website which focuses on property. Youd utilize the website to educate people about home ownership. Or, youd educate them about real estate investing.

Within the site 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 region.

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

You might 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 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 goods for you I really have a friend who has done really well with this he makes 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 which will pay you every time you shop at certain online retailers.

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

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

Again, your earning strategy goes out the window if you purchase things you dont need just to earn rewards. Just go about 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 popular.  Here's how it works: you make an online shop that offers products from certain manufacturers.