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Get Cash Back for Shopping You 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. 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 market an online course14. Build 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 just relaxing.

These all involve making some sort of investment or money outlay in order to generate a return.Im not saying to stop your job (at least not yet), but if youre looking for creative ways to start generating wealth, here are my top 15 passive income ideas.15 Passive Income Ideas Worth ResearchingThis list includes everything from easy, everyday activities to building out entire businesses.

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However, there are a couple of ways that you can start earning right away virtually no effort required!Related: 16 Fun Hobbies Which 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 just by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you make.

For example, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash 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 own account in order to qualify for the bonus.But keep in mind, these offers are only beneficial if you repay your credit card balance every 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 automobile sit around and depreciate( or two ) Use it to create some passive income.Rent Your Automobile with GetaroundWith Getaround, by way of instance, you can potentially make thousands of dollars each year by renting your automobile to other people while youre not using it.

By renting your automobile using Getaround, you can make some (if not all) of the money back.As a Getaround automobile 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 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 program and monitor 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 start earning passive income with the driving you already do.3.

In reality, consider yourself blessed if you earn anything in any way! Luckily, online banks have burst onto the scene with some really enticing interest rates. Greater interest 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, 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 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 actually go that wrong using any one of these.

In reality, the vast majority of millionaires over the past two centuries have attained their standing, at least in part, from investing in actual estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are browse this site a few different ways that 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 property via a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you get to pick an investment plan based on your financial objectives. They have plans that make residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve must add an additional zero to get started.