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

Begin a YouTube Channel13. Make and sell an online course14. Construct an e-commerce site15. Sell Your Photos 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 could be sleeping, on the beach drinking margaritas, or simply relaxing.

All these involve making some sort 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 list includes everything from easy, regular tasks to building out entire businesses.

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But, 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 DoIf you already do a portion of your shopping online, you might be missing out on some simple passive income by not taking advantage of cash back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5percent on purchases you already make.

For instance, a card can 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 usually need to spend a predetermined 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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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) Permit your automobile sit around and depreciate, or 2) Use it to create some passive income.Rent Your Automobile with GetaroundWith Getaround, this website for example, 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 with Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you become dedicated parking at the best places in town, a $50 monthly driving charge to rent whatever you like, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to make a completely free Getaround account.

According to their his response website, drivers can earn $400+ each month.In order to begin, youll need to download the app 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 begin earning passive income together with the driving you already do.3.

In reality, consider yourself blessed if you earn anything at all! Fortunately, online banks have burst onto the scene with some very enticing interest prices. 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 visit here rich off this investment, but its still free money. And since there are no monthly fees, I consider CIT Bank a double 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 charges, so you cant actually go that wrong using any one of these.

In reality, the vast majority of millionaires within the past 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 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 decide on 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 real estate platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve got to add an extra zero to get started.