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One approach to speed up your debt payoff would be to lower your interest rate. In case you've got high-interest debt you want to find a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk method to make 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 1.55% which is unreal.

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

Once your book can be found 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 vital. Obviously, the more time you spend marketing your publications, the more money youll earn.

Do you have an additional room which you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb.  Millions of people use Airbnb to find somewhere 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 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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If you have a website already then this really is a no-brainer.  Some folks are making over $50,000 per month like Michelle who teaches others how to make money online with her course Making Sense of Affiliate Marketing.

If you dont have a website, you can start one for less than $3/month. Thats the cost for check these guys out getting a website sponsor a company that stores your website on servers so that it can be seen 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 site, you are given a commission at no additional cost to them. All they have to do is purchase a service or product.

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

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

Within the site 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 real estate professional would pay you to the lead. Its a hot lead and not a cold lead, so professionals would be more willing to pay.

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

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Did you know you can sell your own products on Amazon and have them even send the products for you I actually 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 special rewards shopping website. You will find websites that will pay you every 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 site thats eligible 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 double money back specials, then 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 normal, and potentially earn a nice cash bonus in the procedure.

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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 offers products from certain manufacturers.