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Get Cash Back for Shopping You Do2. Put Your Car to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded real estate6. Buy your first 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 market an online course14. Construct an e-commerce site15. Sell Your Pictures 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.

These all involve making some type of investment or money outlay in order to generate a return.Im not saying to stop your job (not yet), but if youre looking for creative ways to start generating wealth, here are my top 15 passive income ideas.15 Passive Income Suggestions Worth ResearchingThis list includes everything from simple, regular tasks to building out entire businesses.

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However, there are a couple ways 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 already do a portion of your shopping online, you could be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5% on purchases you already 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 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 repay your credit card balance each month.

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

According to their site, drivers can make $400+ each month.In order to begin, youll need to download the app and track your driving. Once you meet the minimum qualifications, youll be notified when a campaign is available 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! Fortunately, online banks have burst onto the scene with some very enticing interest prices. Higher interest 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, which was actually charging me to find here 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 double win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive rates on their savings accounts. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and fees, so you cant actually go that wrong with any one of these.

In reality, 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 Best Short-Term Investments for Growing Your MoneyHere are a couple of different methods 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 property by means of a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you get to decide on an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term growth. Heres our complete 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 add an extra zero to get started.

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