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Get Cash Back for Shopping You Already Do2. Set Your Car to Work for You3. Open a high-yield savings account4. Rent out 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. Make and sell an online course14. Construct an e-commerce site15. Sell Your Photos 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 could be sleeping, on the beach drinking margaritas, or simply 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 ideas.15 Passive Income Ideas Worth ResearchingThis listing includes everything from simple, everyday tasks to building out entire businesses.

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However, there are a couple of ways you can start earning right away virtually no effort required!Related: 16 Fun Hobbies That 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 easy passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5percent on purchases you make.

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

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Put 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 two options: 1) Permit your automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Automobile with GetaroundWith Getaround, by way of instance, you can potentially make thousands of dollars per year by renting your car to other people while youre not using it. this

By renting your automobile with Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you become dedicated parking in the best places in town, a $50 monthly driving charge 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 monitor your driving. Once you meet the minimum qualifications, great site youll be notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then begin 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 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 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. Most of the online savings accounts these days are neck and neck in terms of interest rates and fees, which means you cant actually go that wrong using any one of these.

In reality, the great majority of millionaires within 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 different methods that you top article 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 real estate via a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .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 similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an extra zero to begin.