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Get Money Back for Shopping You Already Do2. Set 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.

Start 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 could 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 (at least not yet), but if youre looking for creative ways to start generating wealth, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from simple, everyday activities to building out entire businesses.

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But, 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 Already DoIf you already do a portion of your shopping online, you might be missing out on some easy 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 already make.

By way of instance, a card may offer 2% cash back on gas and groceries and 1% on the other purchases.Many cash back credit cards also offer sign-up bonuses. For these apps, youll usually 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 being used while youre traveling, on vacation, or even during your normal workday.You have just two options: 1) Let 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 car to others while youre not using it.

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

According to their website, drivers can make $400+ per month.In order to begin, youll need to download the program and track your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is offered 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 very 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 ditched my Bank of America account, which was actually charging me to hold my money, and gave CIT Bank a try.Now, I get a 1.55% return.

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Granted, great site 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. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, so you cant really go that wrong with any one of them.

In reality, the vast 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 i thought about this are a few different methods you can capitalize on investment opportunities in real 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 decide on an go to this website investment plan based on your financial goals. They have plans that produce residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an extra zero to begin.