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Get Money Back for Shopping You Already Do2. Put Your Car to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded actual estate6. Purchase your initial 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. Construct an e-commerce site15. Sell Your Pictures 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 could 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 riches, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from easy, everyday tasks to building out entire businesses.

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However, there are a couple of ways that you can begin earning right away virtually no effort required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You Already 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 offer 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 all other purchases.Many money back credit cards also offer sign-up bonuses. For these programs, youll generally need to spend a set 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 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, on vacation, or even during your typical workday.You have two options: 1) Permit your car sit around and depreciate, or 2) Use it to create some passive income.Rent Your Automobile with GetaroundWith Getaround, for instance, you can potentially make thousands of dollars each year by renting your automobile to others while youre not using it.

By renting learn the facts here now your car using Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you get dedicated parking at the best places in town, a $50 monthly driving charge to rent anything you like, and $1 million in main insurance coverage.To take advantage of the passive income opportunity, youll need to create a free Getaround account.

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

In fact, consider yourself blessed if you earn anything at all! Luckily, online banks have burst onto the scene with some very enticing interest rates. Higher 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 check my source 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 prices on their savings accounts. The majority of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, which means you cant really go that wrong using any one of them.

In reality, the great majority of my blog millionaires within the previous two centuries have achieved their status, at least in part, from investing in real estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of different methods that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  when you have an additional $500 laying around, you can now invest in property 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 goals. They have plans that make residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property system to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve got to add an extra zero to begin.

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