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Get Money 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 actual 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. Make and sell 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 might be sleeping, on the beach drinking margaritas, or simply relaxing.

These all 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 begin generating riches, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from easy, everyday activities to building out entire businesses.

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But, there are a couple ways that you can start earning right away virtually no effort required!Related: 16 Fun Hobbies That Can Make You Money1. Get Cash Back for Shopping You Already DoIf you do a portion of your shopping online, you might be missing out on some easy passive income by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5% 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 money back credit cards also supply sign-up bonuses. For these programs, youll generally need to spend a set amount within the first 60 to 90 days of opening your own 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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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) Let your car sit around and depreciate, or 2) Use it to create some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of example, 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 that money back.As a Getaround automobile owner, you become dedicated parking in the best spots in town, a $50 monthly driving charge to rent anything you like, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to make a completely free Getaround account.

According to their website, drivers can make $400+ per month.In order to begin, 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 car in to be wrapped, then start earning passive income together with the driving you already do.3.

In fact, consider yourself lucky if you earn anything in any way! Luckily, online banks have burst onto the scene with some really enticing interest rates. Higher interest 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. The majority of the online savings accounts these days are neck and neck in terms of interest rates and fees, which means you cant actually go that wrong using any one of them.

In fact, the vast majority of millionaires within the past two centuries have attained 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 actual estateFundrise  when you've got an extra $500 laying around, you can now invest in property by means of a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns Get More Information of 12.25%.With Fundrise, you get to decide on an investment plan based on your financial objectives. They have plans that make residual income, diversification or long-term expansion. Heres our full Fundrise Review.Another crowdfunding real estate platform to consider:RealtyShares This is comparable to Fundrise, but the minimum investment is $5,000 so youve got to add an extra zero to begin.