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Get Cash Back for Shopping You Already 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. 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 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 most basic 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.

All these involve making some type 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 start generating wealth, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from simple, regular activities to building out entire businesses.

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However, there are a couple ways you can start earning right away almost no attempt 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 simple passive income by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you already make.

By way of example, a card can offer 2% cash back on gas and groceries and 1% on the other purchases.Many money back credit cards also offer sign-up bonuses. For these apps, youll usually 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 pay off your credit card balance each month.

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Set 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 two options: 1) Let your automobile sit around and depreciate, or 2) Use it to create some passive income.Rent Your Automobile with 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 car with Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you get dedicated parking in the best spots in town, a $50 monthly driving credit to rent whatever you like, and $1 million in primary insurance coverage.To useful content take advantage of the passive income opportunity, youll need to make a completely free Getaround account.

According browse around this web-site to their website, drivers can earn $400+ each 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 vehicle in to be wrapped, then start earning passive income with the driving you already do.3.

In reality, consider yourself blessed if you earn anything in any way! Fortunately, online banks have burst onto the scene with some very enticing interest prices. Greater interest more money you make off your savings.Here are two online savings accounts thatll generate residual income:CIT Bank  I recently ditched 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 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. The majority of the online savings accounts these days are neck and neck in terms of interest rates and charges, which means you cant actually go that wrong with any one of them.

In fact, the vast majority of millionaires within the past two centuries have attained their status, at least in part, from investing in real estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a few different methods 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 via a Starter Portfolio from 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 make residual income, diversification or long-term expansion. Heres our full Fundrise Review.Another crowdfunding real estate system to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve got to add an additional zero to get started.