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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 first investment property7. Invest in dividend paying stocks8. Peer-to-Peer Lending9. Start investing with a robo-advisor10. Affiliate marketing11.

Start a YouTube Channel13. Make and sell an online course14. Build an e-commerce site15. Sell Your Pictures OnlineHow to Pick 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 sort of investment or money outlay in order to generate a return.Im not saying to stop your job (not yet), but when 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, regular tasks 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 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 generally 1-5% on purchases you make.

For instance, a card may offer 2% cash back on gas and groceries and 1% on the 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 bear in mind, these offers are only beneficial if you pay off 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 typical workday.You have two options: 1) Let your car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of instance, you can potentially make thousands of dollars each year by renting your car 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 credit to rent anything you like, and $1 million in primary insurance coverage.To take advantage of this passive income opportunity, youll need to create a free Getaround account.

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

In fact, consider yourself lucky if you earn anything in any way! Fortunately, online banks have burst onto the scene with some really enticing interest rates. Higher interest more 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 really charging me to maintain 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 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 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 great majority of millionaires within the previous two centuries have achieved their status, at least in part, from investing in actual estate.Related: 7 Finest 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 actual estateFundrise  If you have an extra $500 laying around, you can now invest in real estate by means of a Starter Portfolio out of Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you get to decide on 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 real estate platform to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve got to add an additional zero to begin.