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One approach to boost your debt payoff would be to decrease your interest rate. In case you have high-interest debt that you want to find a lower interest rate on, check out Credible, which features loan amounts as low as 4.99% to refinancing your credit card debt.

Are you looking for a low-risk way to make passive income Then consider opening a high-yield savings account with an online bank such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% that's 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 publication is done, selling novels can be a great way to produce some severe residual income.

Once your book is available on a website like Amazon, you can get a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is essential. Obviously, the longer you spend marketing your books, the more money youll make.

Have you got an extra room which you rarely 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 room after a suspect leaves. This may 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 site already then this really is a no-brainer.  Some folks are making over $50,000 a 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 getting a website sponsor helpful hints a company that stores your site on servers so that it can be viewed 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. That is because when folks 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 produce passive income is to create a lead generation site. 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 real estate. Youd use the website in order to educate people about home ownership. Or, youd educate them about real estate investing.

Within the website 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 lead, so professionals would be more willing to pay.

You might also make 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 website at the top of search engine pages would be vital for achievement.

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Did you know you can sell your own products on Amazon and have them even send the goods for you I really have a friend who's 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 sites that 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 website thats eligible 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 cash back specials, then you can double your passive income earnings if the ideal news items go on the market.

Again, your earning plan 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 common.  Here's how it works: you create an online store that offers goods from certain manufacturers.