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Get Cash Back for Shopping You Already Do2. Put Your Vehicle to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded real estate6. Purchase 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 market an online course14. Build an e-commerce site15. Sell Your Photos 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 might be sleeping, on the beach drinking margaritas, or just relaxing.

These all involve making some type of investment or cash outlay in order to generate a return.Im not saying to quit your job (not yet), but if youre looking for creative ways to begin generating wealth, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis list includes everything from easy, 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 already do a portion of your shopping online, you could be missing out on some simple passive income by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5percent on purchases you make.

For example, a card can 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 generally need to spend a set 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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Set your Car to Work for YouThink of how often your car sits around not read being used while youre traveling, on vacation, or even during your normal workday.You have two options: 1) Let your car sit around and depreciate( or two ) Use it to create some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars per year by renting your car to other people while youre not using it.

By renting your automobile with Getaround, you can make some (if not all) of that money back.As a Getaround automobile owner, you become dedicated parking in the best spots in town, a $50 monthly driving credit to rent anything you enjoy, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to make a free Getaround account.

According to their site, 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 great post to read your vehicle in to be wrapped, then begin earning passive income with the driving you already do.3.

In reality, consider yourself blessed if you earn anything at all! Luckily, online banks have burst onto the scene with some really enticing interest rates. 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, which was actually charging me to hold 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 charges, 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 methods you can capitalize on investment opportunities in real these details estate:5. Invest in crowdfunded actual 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 12.25percent .With Fundrise, you also get to pick 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 real estate system to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve must bring an additional zero to begin.

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