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One way to speed up your debt payoff would be to decrease your interest rate. If you have high-interest debt you want to get a lower interest rate on, check out Credible, which offers loan amounts as low as 4.99% for 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 such as CIT Bank that pays 19 times greater than traditional banks. CIT is currently are paying 1.55% which is unreal.
While 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 work of creating the book is done, selling novels can be a fantastic method to create some severe residual income.
Once your book is available on a site like Amazon, you can 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 earn.
Have you got an extra room which 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 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 guess leaves. This may 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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If you have a website already then this is a no-brainer. Some folks are making over $50,000 per month like Michelle who teaches others how to make money online with her class 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 site sponsor 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 make passive income. This is because when folks click on the affiliate links on your website, you receive a commission at no additional cost to them. All they have to do is buy a service or product.
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Therefore, lets say you produced a lead generation site that focuses on real estate. Youd utilize the website to educate people about home ownership. Or, youd educate them about property investing.
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The real estate professional would cover you for the lead. Its a hot lead and not continue reading this a cold encounter, so professionals are more willing to pay.
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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 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 special rewards shopping website. You will find 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 website thats qualified for cash-back, youll get a notification. I use a free website called Ebates, which will pay you $10 just for signing up.
With their double cash back specials, then you can double your passive income earnings if 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 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.