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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, 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 method 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 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 books can be a great way to produce some serious residual income.
Once your book is available on a website like Amazon, you could receive a check every month for doing nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the more time you spend marketing your books, the more money youll earn.
Have you got an extra room that you seldom use Why not rent it out to someone looking for a temporary rental on Airbnb. Millions of people use Airbnb to find a place to stay instead of staying in a hotel, sometimes even for months at a time.
You can hire a maid service to clean and prep the room 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 spare bedrooms.
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In case you have a site already then this really is a no-brainer. Some folks are making over $50,000 per month just like Michelle who teaches others how to earn money online with her class 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 sponsor a company that stores your website on servers so it can be seen on the Internet. Click here to get special pricing of $2.95/month with Bluehost.
Affiliate marketing can be a terrific 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.
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Therefore, lets say you created a lead generation site that focuses on property. Youd use the site in order to educate people about home ownership. Or, youd educate them about property investing.
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The actual estate professional would pay you to the lead. Its a hot lead and not a cold encounter, so professionals would be more willing to pay.
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Did you know you can sell your own products on Amazon and have them even ship the goods for you I really have a friend who's 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 with a distinctive rewards shopping website. You will find sites that will pay you every time you websites shop at certain online retailers.
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You just download the websites 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 double cash back specials, you can double your passive income earnings in the event the ideal things 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 usual, and potentially earn a nice cash bonus in the process.
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With the explosion of eCommerce, drop shipping has become very popular. Here's how it works: you create an online store that offers products from certain manufacturers.