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One way to boost your debt payoff is to lower your interest rate. If you've got high-interest debt that you want to get a lower interest rate on, check out Credible, which offers 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'll be a safer way to create 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 great way to create some serious residual income.

Once your book is available on a site like Amazon, you can 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.

Do you have an additional room that 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 resort, sometimes even for months at a time.

You can hire a maid service to clean and prep the space following 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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In case you have a site already then this is a no-brainer.  Some people 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 begin one for less than $3/month. Thats the cost for getting a site sponsor a company that stores your website on servers so it can be seen on the Internet.   Click here to find special pricing of $2.95/month with Bluehost.

Affiliate marketing can be a terrific way to produce passive income. This is because when people click on the affiliate links on your website, you are given a commission at no additional cost . All they have to do is buy a service or product.

Another way to make passive income is to make a lead generation website. Lead generation sites exist to give warnings 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 individuals about home ownership. Or, youd instruct 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 a real estate professional in their region.

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

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

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Did you know that you can sell your own products on Amazon and have them even send find the goods for you I really have a friend who has done really well with this as he makes six figures per year selling his own products online.

You can earn even more money by signing up using a distinctive rewards shopping website. There are websites which will pay you each time you shop at certain online retailers.

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You simply download the websites 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.

With their dual cash back specials, then you can double your passive income earnings in the event 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 on 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 popular.  Here's how it works: you make an online store that provides products from certain manufacturers.