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One way to speed up your debt payoff would be to decrease your interest rate. If you've got high-interest debt that you want to find a lower interest rate on, check out Credible, which features loan rates 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 greater 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 task of creating the book is done, selling novels can be a fantastic way to create some serious 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 vital. Evidently, the more time you spend marketing your books, the more money youll earn.

Do you have 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 somewhere to stay instead of staying in 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 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 just like Michelle who teaches others how to make 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 price for getting a site host a company that stores your site 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 folks click on the affiliate links on your website, you are given a commission at no additional cost to them. All they need to do is purchase a service or product.

Another way to produce passive income is visit the website to make a lead generation site. Lead generation websites exist to give warnings to local businesses.

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So, lets say you produced a lead generation site which focuses on real estate. Youd use the site in order to educate individuals about home ownership. Or, youd educate them about real estate investing.

Within the site youd have links in which 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 actual estate professional would pay you for the lead. Its a warm lead and not a cold lead, so professionals these details are more willing to pay.

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

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Did you know 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 very well with this as 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 site. There are sites which will pay you each 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 site thats eligible for cash-back, youll get a notification. I use a free site called Ebates, which will cover you $10 just for signing up.

Using their dual cash back specials, you can double your passive income earnings if the ideal items go on sale.

Again, your earning strategy goes out the window if you buy things you dont need just 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 very popular.  Here's how it works: you create an online shop that provides products from certain manufacturers.