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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 that you want to find a lower interest rate on, have a look at Credible, which features 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 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 create 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 books can be a fantastic method to produce some serious residual income.

Once your book can be found on a website like Amazon, you could get a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer 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 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 per month renting out their spare bedrooms.

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In case you've got a site already then this is a no-brainer.  Some folks are making over $50,000 per 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 price for getting a website 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 great way to produce passive income. This is because when people click on the affiliate links on your site, you receive a commission at no additional cost . All they have websites to do is buy a product or service.

Another way to produce passive income is to make a lead generation website. Lead generation sites exist to give referrals to local businesses.

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

Within the site 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 area.

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The actual 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 could also earn money by having advertisers on your website. Note that you would need 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 for success.

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

You can earn even more money by signing up with a distinctive rewards shopping site. You will find sites that will pay you each time you shop at certain online retailers.

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You simply 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 site named Ebates, which will pay you $10 just for signing up.

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

Again, your earning strategy 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 in the procedure.

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