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Get Money Back for Shopping You Already Do2. Set Your Vehicle to Work for You3. Open a high-yield savings account4. Rent out 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. Create and market an online course14. Build an e-commerce site15. Sell Your Photos OnlineHow to select 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 might be sleeping, on the beach drinking margaritas, or simply relaxing.

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

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

For instance, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash back credit cards also offer sign-up bonuses. For these programs, youll generally 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 pay off your credit card balance every month.

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

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

According to their site, drivers can make $400+ each month.In order to get started, youll need to download the program and track your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is available in your area.Take your vehicle in to be wrapped, then start earning passive income with the driving you do.3.

In reality, consider yourself lucky if you earn anything at all! Fortunately, online banks have burst onto the scene with some really enticing interest prices. 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, that was actually charging me to maintain my money, and gave CIT Bank a try.Now, for a 1.55% return.

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Granted, Im not going to get rich off this investment, but its free discover this info here 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 prices on their savings accounts. The majority of the online savings accounts nowadays are neck and neck in terms of interest rates and fees, so you cant actually go that wrong using any one of them.

In reality, the published here great majority of millionaires over the past two centuries have attained their status, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of different methods that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  when you have an additional $500 laying around, you can now invest in real estate via a Starter Portfolio out of Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you get to decide on an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term growth. Heres our full 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 begin.

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