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Get Cash Back for Shopping You Already Do2. Put Your Vehicle to Work for You3. Open a high-yield savings account4. Rent a room in your house5. Invest in crowdfunded actual estate6. Purchase your first investment property7. Invest in dividend paying stocks8. Peer-to-Peer Lending9. Start investing with a robo-advisor10. Affiliate marketing11.

Begin a YouTube Channel13. Make and sell an online course14. Build an e-commerce site15. Sell Your Photos OnlineHow to Pick the Best Passive Income Stream for YouWhat is Passive IncomeAt its most basic definition, passive income, also known as residual income, is money you earn while youre not working. You could be sleeping, on the beach drinking margaritas, or simply relaxing.

All these involve making some type of investment or money outlay in order to generate a return.Im not saying to stop your job (not yet), but when youre looking for creative ways to begin generating riches, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from simple, regular tasks to building out entire businesses.

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However, there are a couple ways you can start earning right away almost no effort required!Related: 16 Fun Hobbies That Can Make You Money1. Get Cash Back for Shopping You Already DoIf you already do a portion of your shopping online, you might be missing out on some simple passive income just by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5percent on purchases you already make.

By way of instance, a card may offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash back credit cards also supply sign-up bonuses. For these programs, youll usually need to spend a predetermined amount within the first 60 to 90 days of opening your account in order to be eligible for the bonus.But keep in mind, these offers are only beneficial if you repay your credit card balance each month.

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Put Your Car to Work for YouThink of how often your car stays around not being used while youre traveling, on vacation, or even during your normal workday.You have two options: 1) Permit your automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, by way of instance, you can potentially make thousands of dollars each year by renting your automobile to other people while youre not using it.

By renting your automobile using Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you become dedicated parking in the best places in town, a $50 monthly driving charge to rent whatever you enjoy, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to make a free Getaround account.

According to their website, drivers can make $400+ each month.In order to visit homepage get started, youll need to download the app and monitor your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is available in your area.Take your car in to be wrapped, then begin earning passive income with the driving you already do.3.

In reality, consider yourself blessed if you earn anything in any way! Luckily, read here online banks have burst onto the scene with some really enticing interest rates. Greater interest more money you make off your savings.Here are two online savings accounts thatll generate residual income:CIT Bank  I recently awakened my Bank of America account, which was really charging me to hold my money, and gave CIT Bank a try.Now, I get a 1.55% return.

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Granted, Im not going to get rich off this investment, but its free money. And since there are no monthly fees, I consider CIT Bank a dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive rates on their savings accounts. The majority of the online savings accounts these days are neck and neck in terms of interest rates and charges, so you cant actually go that wrong with any one of them.

In reality, the vast majority of millionaires within the past two centuries have attained their standing, at least in part, from investing in real estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a few different methods that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  when you have an extra $500 laying around, you can now invest in property via a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also get to pick an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares This is comparable to Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to get started.