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Get Money Back for Shopping You Already Do2. Put Your Car 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.

Start a YouTube Channel13. Make and sell an online course14. Construct an e-commerce site15. Sell Your Pictures 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 simply relaxing.

These all involve making some sort of investment or cash outlay in order to generate a return.Im not saying to stop your job (not yet), but if youre looking for creative ways to begin 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 of ways that you can begin earning right away virtually no effort required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You DoIf you already do a portion of your shopping online, you might be missing out on some simple passive income 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 may offer 2% cash back on gas and groceries and 1% on the other purchases.Many cash back credit cards also offer sign-up bonuses. For these apps, youll generally need to spend a predetermined amount within the first 60 to 90 days of opening your own 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 car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, by way of example, 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 become dedicated parking at the best spots in town, a $50 monthly driving credit to rent anything you like, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to make a completely free Getaround Our site account.

According to their website, drivers can make $400+ per month.In order to begin, 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 start 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 very enticing interest prices. 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 hold 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 fees, I consider CIT Bank a double 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 charges, which means you cant actually go that wrong using any one of these.

In reality, the vast majority of millionaires over the previous two centuries have achieved their status, at least in part, from investing in actual estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a few additional resources different ways 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 by means of a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you also get to decide on an investment plan based on your financial goals. They have plans that produce residual income, diversification or long-term expansion. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares This is comparable to Fundrise, but Recommended Reading the minimum investment is $5,000 so youve must add an extra zero to begin.