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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 out a room in your house5. Invest in crowdfunded actual estate6. Buy 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. Make and market an online course14. Build an e-commerce site15. Sell Your Pictures 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.

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 if youre looking for creative ways to start generating wealth, here are my top 15 passive income ideas.15 Passive Income Suggestions Worth ResearchingThis list includes everything from easy, regular activities to building out entire businesses.

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

For instance, a card may offer 2% cash back on gas and groceries and 1% on all other purchases.Many money back credit cards also offer sign-up bonuses. For these apps, youll generally need to spend a set 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 sits around not being used while youre traveling, on vacation, or even during your normal workday.You have just two options: 1) Let your automobile sit around and depreciate( or two ) Use it to make some passive income.Rent Your Car with GetaroundWith Getaround, by way of instance, you can potentially make thousands of dollars per year by renting your car to other people while youre not browse around this site using it.

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

According to their site, drivers can earn $400+ per month.In order to get started, youll need to download the app and track your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then begin earning passive income 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 really 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 ditched my Bank of America account, which was actually charging me to hold 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 still 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 nowadays are neck and neck in terms of interest rates and fees, which means you cant really go that wrong using any one of them.

In fact, the great majority of millionaires over the previous two centuries have achieved their standing, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of Get More Info different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you have an additional $500 laying around, you can now invest in real estate 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 decide on an investment plan based on your financial goals. They have plans that make residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding property system to consider:RealtyShares This is comparable to Fundrise, but the minimum investment is $5,000 so youve must add an additional zero to begin.