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Get Cash Back for Shopping You Do2. Put Your Car to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded real estate6. Buy 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. Construct an e-commerce site15. Sell Your Photos OnlineHow to Pick 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 might be sleeping, on the beach drinking margaritas, or just relaxing.

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

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

By way of 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 usually 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 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 typical workday.You have just two options: 1) important source Let your car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, for instance, you can potentially make thousands of dollars per year by renting your car to others while youre not using it.

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

According to their website, drivers can earn $400+ each month.In order to get started, youll need to download the program and monitor your driving. Once you meet the minimum qualifications, youll be notified when a campaign is available in your go to this web-site area.Take your vehicle 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 at all! Luckily, online banks have burst onto the scene with some really enticing interest prices. Higher 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, that was really 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 double win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices on their savings accounts. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, which means you cant really go that wrong using any one of them.

In reality, the vast majority of millionaires over the past two centuries have achieved their standing, at least in part, from investing in actual estate.Related: 7 Finest 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 actual estateFundrise  when you've got an additional $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 12.25percent .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 expansion. Heres our complete 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 extra zero to get started.