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Get Money Back for Shopping You Do2. Set Your Vehicle 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.

Start a YouTube Channel13. Create and sell an online course14. Construct an e-commerce site15. Sell Your Pictures 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.

These all involve making some sort of investment or cash outlay in order to generate a return.Im not saying to quit your job (at least not yet), but when youre looking for creative ways to begin generating riches, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis list includes everything from easy, everyday tasks to building out entire businesses.

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But, there are a couple ways you can begin earning right away almost no effort required!Related: 16 Fun Hobbies That 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 by not taking advantage of money back 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 the other purchases.Many cash back credit cards also supply sign-up bonuses. For these programs, youll generally need to spend a predetermined amount within the first 60 to 90 days of opening your account in order to be eligible 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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Put Your Car to Work for YouThink of how often your car sits around not being used while youre traveling, on vacation, or Get More Info even during your normal workday.You have two options: 1) Let your car sit around and depreciate( or two ) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, by way of instance, 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 with Getaround, image source you can make some (if not all) of that money back.As a Getaround car owner, you become dedicated parking in the best places in town, a $50 monthly driving charge to rent whatever you enjoy, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to create 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 monitor 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 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. 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 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 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. The majority of the online savings accounts these days 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 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 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 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 similar to Fundrise, but the minimum investment is $5,000 so youve must bring an extra zero to begin.

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