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One way to boost your debt payoff is to decrease your interest rate. In case you have high-interest debt you want to find a lower interest rate on, check out Credible, which features loan rates as low as 4.99% to 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 such as CIT Bank that pays 19 times more than traditional banks. CIT is currently are paying 1.55percent that's unreal.

Although this wont make you filthy rich, it'll 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 book is done, selling novels can be a great way to create some severe residual income.

Once your book can be found on a site like Amazon, you could get a check each month for doing 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 that you rarely use Why not rent it out to someone looking for a short-term rental on Airbnb.  Millions of individuals use Airbnb to find a place to stay instead of staying at a hotel, 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 per month renting out their bedrooms.

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In case you've got a website already then this really is a no-brainer.  Some people are making over $50,000 a 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, look at this now 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 make passive income. That is because when people click on the affiliate links on your website, you receive a commission at no additional cost to them. All they need to do is buy a product or service.

Another way to make passive income is to make a lead generation website. Lead generation websites exist to provide referrals to local businesses.

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Therefore, lets say you created a lead generation site that focuses on real estate. Youd use the website to educate individuals about home ownership. Or, youd instruct them about real estate investing.

Within the site 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 region.

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The actual estate professional would cover you to the lead. Its a warm lead and not a cold lead, so professionals would be more willing to pay.

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

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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 actually have a friend who has 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. You will find sites which will pay you each 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 qualified for cash-back, youll receive a notification. I use a free website called Ebates, which will cover you $10 just for signing up.

With their double money back specials, you can double your passive income earnings if the right 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 about 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 make an online store that provides products from certain manufacturers.