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Get Money Back for Shopping You 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. Buy 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. 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 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 simply 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 if 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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However, there are a couple of ways you can start earning right away almost 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 could be missing out on some easy passive income by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you make.

For example, a card can offer 2% cash back on gas and groceries and 1% on the 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 qualify 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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Set your Car to Work for YouThink of how often your car sits click now around not being used while youre traveling, on vacation, or even during your typical workday.You have two options: 1) Let your automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Automobile with GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars each year by renting your car to others while youre not using it.

By renting your car with Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you become dedicated parking at the best spots in town, a $50 monthly driving credit to rent whatever you enjoy, and $1 million in main insurance coverage.To take advantage of the passive income opportunity, youll need to create a completely free Getaround account.

According to their site, you can try this out drivers can make $400+ per month.In order to begin, youll need to download the program and track 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 together with the driving you already do.3.

In fact, consider yourself lucky if you earn anything at all! Fortunately, online banks have burst onto the scene with some really enticing interest prices. Greater interest more money 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, which was actually 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 free money. And since there are no monthly fees, I consider CIT Bank a double 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 actually go that wrong using any one of them.

In reality, the vast majority of millionaires within 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 few different methods you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you've got an extra $500 laying around, you can now invest in real estate via a Starter Portfolio out of 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 make residual income, diversification or long-term growth. 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 got to add an additional zero to begin.