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Get Cash Back for Shopping You Already Do2. Put Your Vehicle 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. Construct an e-commerce site15. Sell Your Photos OnlineHow to select 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 type of investment or cash 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 begin generating wealth, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis list includes everything from easy, everyday tasks to building out entire businesses.

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But, there are a couple of ways that you can start earning right away virtually no attempt 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 might be missing out on some simple passive income by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5percent on purchases you make.

For instance, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash back credit cards also offer sign-up bonuses. For these apps, youll usually 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 keep in mind, these offers are only beneficial if you repay your credit card balance each month.

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Put 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 normal 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 Using 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 that money back.As a Getaround car owner, you get dedicated parking in the best spots in town, have a peek at this website a $50 monthly driving credit to rent whatever you enjoy, and $1 million in primary insurance coverage.To take advantage of this 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 monitor your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is available in your area.Take your vehicle in to be wrapped, then start earning passive income with the driving you do.3.

In fact, consider yourself blessed if you earn anything in any way! Fortunately, online banks have burst onto the scene More about the author with some really enticing interest rates. Greater 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, 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 dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices on their savings accounts. The majority of the online savings accounts these days are neck and neck in terms of interest rates and charges, so you cant really go that wrong using any one of these.

In reality, the great majority of millionaires over the past two centuries have achieved their status, at least in part, from view 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 extra $500 laying around, you can now invest in property via a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you also get to pick an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding property system to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve must bring an additional zero to begin.