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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 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.

Begin a YouTube Channel13. Create and market an online course14. Build an e-commerce site15. Sell Your Photos OnlineHow to Pick 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 might be sleeping, on the beach drinking margaritas, or simply relaxing.

All these involve making some type 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 begin generating wealth, here are my top 15 passive income ideas.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from simple, regular tasks to building out entire businesses.

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But, there are a couple of ways 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 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 1-5percent on purchases you already make.

By way of 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 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 pay off your credit card balance each 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 official statement have two options: 1) Let your automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Car Using 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 car owner, you get dedicated parking at the best spots in town, a $50 monthly driving charge to rent anything you like, and $1 million in primary 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+ each month.In order to get started, youll need to download the program and monitor your website here 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 reality, consider yourself blessed if you earn anything in any way! Fortunately, online banks have burst onto the scene with some really enticing interest prices. Greater interest 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, that was actually charging me to maintain 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 fees, I consider CIT Bank a double win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices on their savings accounts. Most 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 using any one of these.

In fact, the vast majority of millionaires within the previous two centuries have attained their status, at least in part, from investing in real 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 real estateFundrise  If you have an additional $500 laying around, you can now invest in real estate via a Starter Portfolio from Fundrise.

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