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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 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. Make and market 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 most basic 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 money outlay in order to generate a return.Im not saying to stop your job (at least not yet), but if youre looking for creative ways to start generating wealth, here are my top 15 passive income ideas.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from simple, regular activities to building out entire businesses.

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However, there are a couple of ways that 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 by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5percent on purchases you make.

For example, a card may offer 2% cash back on gas and groceries and 1% on the 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 keep in mind, these offers are only beneficial if you repay your credit card balance every month.

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Set your Car to Work for YouThink of how often your car stays around not being used while youre traveling, on vacation, or even during your typical workday.You have two options: 1) Permit your car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Automobile with 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 with Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you get dedicated parking at the best company website 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 free Getaround account.

According to their website, drivers can make $400+ per 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 area.Take your vehicle in to be wrapped, then begin earning passive income together with the driving you do.3.

In reality, consider yourself blessed if you earn anything at all! Luckily, online banks have burst onto the scene with some really 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 ditched my Bank of America account, which was really 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 still free money. And since there are no monthly fees, I consider CIT Bank a dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive rates on their savings accounts. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and fees, which means you cant really go that wrong using any one of them.

In reality, the great majority of millionaires over the previous two centuries have achieved their standing, at least in part, from investing in real estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a few different methods that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  when you have an additional $500 laying around, you can now invest in real estate by means of a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also get to decide on an investment plan based on your financial goals. They have plans that produce residual income, diversification or long-term expansion. Heres our full Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is comparable to next Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to get started.