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Get Money 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 real estate6. Buy your first 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 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 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 quit your job (at least not yet), but if youre looking for creative ways to begin generating riches, here are my top 15 passive income thoughts.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 ways that you can start earning right away virtually 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 just by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5percent on purchases you already make.

For instance, a card may 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 apps, youll generally need to spend a set amount within the first 60 to 90 days of opening your account in order to qualify for the bonus.But bear 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 a fantastic read even during your typical workday.You have two options: 1) Let your automobile 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 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 spots in town, a $50 monthly driving Extra resources charge to rent anything you enjoy, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to create a completely free Getaround account.

According to their website, drivers can earn $400+ per month.In order to get started, youll need to download the program and track 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 together with the driving you do.3.

In fact, consider yourself blessed if you earn anything in any way! Fortunately, 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 awakened my Bank of America account, that was actually charging me to hold my money, and gave CIT Bank a why not try this out 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 fees, so you cant really go that wrong with any one of them.

In reality, the vast majority of millionaires within 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 a couple of different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you have an extra $500 laying around, you can now invest in property by means of a Starter Portfolio out of 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 goals. They have plans that make residual income, diversification or long-term expansion. Heres our complete Fundrise Review.Another crowdfunding real estate platform to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve must bring an additional zero to get started.