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

Start a YouTube Channel13. Create and sell an online course14. Construct an e-commerce site15. Sell Your Photos OnlineHow to select the Best Passive Income Stream for YouWhat is Passive IncomeAt its simplest 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 just relaxing.

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

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However, there are a couple 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 Already DoIf you already do a portion of your shopping online, you could be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5% on purchases you make.

By way of example, a card may offer 2% cash back on gas and groceries and 1% on the other purchases.Many money back credit cards also supply sign-up bonuses. For these apps, youll usually need to spend a predetermined amount within the first 60 to 90 days of opening your account in order to qualify for the bonus.But bear in mind, these offers are only beneficial if you repay your credit card balance every 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 Bonuses vacation, or even during click here to read your typical workday.You have two options: 1) Permit your car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, by way of 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 with Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you get dedicated parking at the best spots 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 completely free Getaround account.

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

In fact, consider yourself lucky if you earn anything at all! Luckily, online banks have burst onto the scene with some very enticing interest rates. Greater interest money you make off your savings.Here are just two online savings accounts thatll generate residual income:CIT Bank  I recently awakened my Bank of America account, that was really charging me to maintain 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 still free money. And since there are no monthly charges, I consider CIT Bank a double win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive rates on their savings accounts. Most of the online savings accounts these days are neck and neck in terms of interest rates and fees, so you cant really go that wrong with any one of these.

In reality, the vast majority of millionaires within the previous two centuries have attained their standing, at least in part, from investing in real estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you've got an extra $500 laying around, you can now invest in property by means of a Starter Portfolio out of Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you get to pick an investment plan based on your financial goals. They have plans that produce residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding real estate platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve must bring an extra zero to get started.