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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 real estate6. Purchase your initial 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 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 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 if youre looking for creative ways to start generating wealth, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis list includes everything from simple, everyday tasks to building out entire businesses.

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However, there are a couple ways you can start earning right away virtually no attempt required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You Already 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 money rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5% on purchases you make.

By way of example, a card may 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 generally need to spend a predetermined 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 pay off your credit card balance every month.

The Buzz on Passive Income In Thailand

Set your Car to Work for YouThink of how often your car sits around not being used while youre traveling, on vacation, or this article even during your typical workday.You have just two options: 1) Let your car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Automobile with GetaroundWith Getaround, for 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 automobile 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 charge to rent anything you enjoy, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to make a free Getaround account.

According to their website, drivers can make $400+ per month.In order to begin, youll need to download the program and track your driving. Once you meet 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 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 rates. Greater interest money navigate here 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 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 rich off this investment, but its still 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 rates on their savings accounts. The majority of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, which means you cant really go that wrong with any one of them.

In fact, the vast majority of millionaires over the past two centuries have attained their standing, 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 you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  If you've got an extra $500 laying around, you can now invest in real estate by means of a Starter Portfolio from Fundrise.

In Fundrises blog here 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 produce residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve must add an additional zero to begin.