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Get Cash Back for Shopping You Already 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. Purchase 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. Make and sell an online course14. Build an e-commerce site15. Sell Your Photos OnlineHow to Pick 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 sort of investment or cash outlay in order to generate a return.Im not saying to stop 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 Ideas Worth ResearchingThis list includes everything from easy, everyday activities 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 Which Can Make You Money1. Get Cash Back for Shopping You DoIf you do a portion of your shopping online, you could be missing out on some easy passive income by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you make.

By way of example, a card can 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 programs, youll generally 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 every 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 just two options: 1) Permit your car sit around and depreciate( or two ) Use it to create some passive income.Rent Your Car Using GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars per 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 in the best places in town, a $50 monthly driving charge to rent whatever you enjoy, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to check over here create a completely free Getaround account.

According to their website, drivers can earn $400+ each month.In order to get started, youll need to download the program 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 start earning passive income with the driving you already do.3.

In reality, consider yourself blessed if you earn anything at all! Luckily, online banks have burst onto the scene with some very enticing interest prices. Higher 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 actually charging me to hold 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 fees, 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 these days are neck and neck in terms of interest rates and charges, which means you cant actually go that wrong with any one of them.

In fact, the vast majority of millionaires over the past two centuries have achieved their status, at least in part, from investing in real estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a few different ways 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 via 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 make residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding real estate platform to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to begin.