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One way to boost your debt payoff would be to lower your interest rate. If you have high-interest debt that you want to get a lower interest rate on, check out Credible, which features 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 1.55percent which is unreal.

Although this wont make you filthy rich, it will 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 way to produce some severe residual income.

Once your book can be found on a site like Amazon, you could receive a check every month for doing absolutely nothing. Note that spending some time developing an effective marketing plan is vital. Obviously, the longer you spend marketing your publications, the more money youll earn.

Do you have an extra room which 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 somewhere 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 after 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 bedrooms.

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In case you've got a site already then this is a no-brainer.  Some people are making over $50,000 a month like Michelle who teaches others how to earn money online with her course Making Sense of Affiliate Marketing.

In case you dont have a website, you can begin one for less than news $3/month. Thats the cost for getting a website sponsor a company that stores your site 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 great way to make passive income. That is because when people click on the affiliate links on your site, 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 make a lead generation website. Lead generation sites exist to give warnings to local businesses.

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Therefore, lets say you produced a lead generation site which focuses on property. Youd use the site to educate individuals about home ownership. Or, youd instruct them about property investing.

Within the site youd have links in which people 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 pay you to the lead. Its a warm lead and not a cold lead, so professionals would be more willing to pay.

You could also make money by having advertisers on your site. Note that you would need 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 vital 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 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 with a special rewards shopping site. There are sites that will pay you each time you shop at certain online retailers.

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You simply download the websites browser extension and each time youre on an e-commerce website Find Out More thats qualified for cash-back, youll receive a notification. I use a free website named Ebates, which will pay you $10 just for signing up.

With their double cash back specials, you can double your passive income earnings if the right items go on sale.

Again, your earning plan 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 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 shop that offers products from certain manufacturers.