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Get Cash Back for Shopping You Already Do2. Set Your Vehicle to Work for You3. Open a high-yield savings account4. Rent a room in your house5. Invest in crowdfunded actual 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. Make and market an online course14. Build an e-commerce site15. Sell Your Photos OnlineHow to select 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 might be sleeping, on the beach drinking margaritas, or just relaxing.

All these involve making some type of investment or cash outlay in order to generate a return.Im not saying to quit your job (not yet), but when youre looking for creative ways to start generating wealth, 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 of ways that you can start 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 might be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5% on purchases you already make.

For instance, 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 apps, 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 every month.

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Set your Car to Work for YouThink of how often Home Page your car sits around not being used while youre traveling, on vacation, or even during your normal workday.You have two options: 1) Permit your automobile sit around and depreciate, or 2) Use it to create some passive income.Rent Your Car with GetaroundWith Getaround, for 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 using Getaround, you can make some (if not all) of the money back.As a Getaround car owner, you get dedicated parking in the best places in town, a $50 monthly driving credit to rent anything you like, and $1 million in main insurance coverage.To take advantage of the passive income opportunity, youll need to make a completely free Getaround account.

According to their go site, drivers can earn $400+ per month.In order to get started, youll need to download the app and monitor your driving. Once you meet 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! Fortunately, online banks have burst onto the scene with some very enticing interest rates. Higher interest money you make off your savings.Here are just two online savings click here to find out more accounts thatll generate residual income:CIT Bank  I recently ditched 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 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 rates on their savings accounts. The majority of the online savings accounts these days are neck and neck in terms of interest rates and charges, which means you cant really go that wrong using any one of these.

In fact, the great majority of millionaires within the previous two centuries have attained their status, at least in part, from investing in real estate.Related: 7 Best 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 extra $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 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 real estate system to consider:RealtyShares This is comparable to Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to begin.