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Get Cash Back for Shopping You Do2. Set Your Car to Work for You3. Open a high-yield savings account4. Rent 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.

Begin a YouTube Channel13. Create and sell an online course14. Construct an e-commerce site15. Sell Your Pictures 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 could 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 Suggestions Worth ResearchingThis listing includes everything from easy, everyday tasks to building out entire businesses.

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But, there are a couple ways that 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 DoIf you do a portion of your shopping online, you might be missing out on some easy passive income by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5% on purchases you make.

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

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Set 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 typical workday.You have just two options: 1) Permit your car sit around and depreciate, or 2) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, for example, 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 that money back.As a Getaround car owner, you get dedicated parking at the best places in town, a $50 monthly driving credit to you can look here rent anything you like, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to create a free Getaround account.

According to their website, drivers can earn $400+ each month.In order to begin, youll need to download the app and track your driving. Once you look at here meet the minimum qualifications, youll be notified when a campaign is available in your area.Take your car in to be wrapped, then start earning passive income together with the driving you already do.3.

In reality, consider yourself lucky if you earn anything in any way! Luckily, online banks have burst onto the scene with some very enticing interest prices. Higher interest 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 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 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 charges, so you cant actually go that wrong using any one of them.

In fact, the vast majority of millionaires over the previous 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 ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you've got an additional $500 laying around, you can now invest in property 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 make residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding real estate 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.