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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 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. Create and sell 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.

These all involve making some sort 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 riches, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis listing includes everything from easy, everyday tasks to building out entire businesses.

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However, there are a couple ways that you can start 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 just by not taking advantage of cash 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 may offer 2% cash back on gas and groceries and 1% on all other purchases.Many money back credit cards also supply sign-up bonuses. For these programs, youll usually need to spend a predetermined amount within the first 60 to 90 days of opening your account in order to qualify for the bonus.But keep in mind, these offers are only beneficial if you repay your credit card balance every 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, you could look here on vacation, or even during your normal workday.You have just two options: 1) Let your automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Automobile with GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars per year by renting your automobile to others while youre not using it.

By renting your automobile using Getaround, you can make some (if not all) of the 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 like, and $1 million in primary insurance coverage.To take advantage of this passive income opportunity, youll need to create a free Getaround account.

According to their website, drivers can make $400+ per month.In order to get started, youll need to download the app and track your driving. Once you meet the minimum qualifications, youll be get more notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then begin earning passive income together with the driving you do.3.

In reality, consider yourself lucky if you earn anything at all! Luckily, online banks have burst onto the scene with some really enticing interest rates. Higher interest more 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 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 these days are neck and neck in terms of interest rates and charges, so you cant actually go that wrong with any one of these.

In fact, the great majority of millionaires over the previous two centuries have achieved their standing, at least in part, from investing in real estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a few different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real browse around these guys 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 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 platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve must bring an extra zero to get started.