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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. 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. Create and market 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 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 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 (not yet), but when youre looking for creative ways to begin generating wealth, here are my top 15 passive income ideas.15 Passive Income Suggestions Worth ResearchingThis list includes everything from easy, regular activities to building out entire businesses.

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However, there are a couple 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 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 already 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 offer 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 be eligible for the bonus.But bear 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 try this your car sits around not being used while youre traveling, on vacation, or even during your typical workday.You have just two options: 1) Permit your automobile sit around and depreciate( or two ) Use it to make some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars per year by renting your car to other people 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 in the best spots in town, a $50 monthly driving credit 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 completely free Getaround account.

According to their site, drivers can make $400+ per month.In order to get started, youll need to download the app and track your driving. Once you meet the minimum qualifications, youll be notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then begin earning passive income together with the driving you do.3.

In fact, consider yourself lucky if you earn anything at all! Luckily, online banks have burst onto the scene with some really enticing interest prices. 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 try.Now, for 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 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 nowadays are neck and neck in terms of interest rates and fees, so you cant actually go that wrong with any one of these.

In fact, the vast majority of millionaires over 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 few different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  If you have an additional $500 laying around, you can now invest in real estate via a Starter Portfolio out of Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also get useful reference 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 full Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve got to add an extra zero to begin.

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