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Get Money Back for Shopping You Do2. Put Your Car to Work for You3. Open a high-yield savings account4. Rent a room in your house5. Invest in crowdfunded real 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 Photos 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 might be sleeping, on the beach drinking margaritas, or just relaxing.

All these involve making some type of investment or money outlay in order to generate a return.Im not saying to quit your job (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 simple, regular tasks to building out entire businesses.

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

For instance, a card may offer 2% cash back on gas and groceries and 1% on all 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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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) Permit your car sit around and depreciate, or 2) Use it to make some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of instance, you can potentially make thousands of dollars each year by renting your car to others while youre not using it.

By renting your car 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 charge to rent anything you enjoy, and $1 million in main insurance coverage.To take advantage of the passive income opportunity, youll need to make a completely free Getaround account.

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

In reality, consider yourself blessed if you earn anything in any way! Fortunately, 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 YOURURL.com free money. And since there are no monthly charges, I consider CIT Bank a dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices 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 with any one of them.

In fact, the great majority of millionaires within the past two centuries have achieved 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 you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you have an additional $500 laying around, you can now invest in real estate via a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also 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 property system to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to begin.

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