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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 out a room in your house5. Invest in crowdfunded actual estate6. Buy 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. 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 could 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 stop your job (at least not yet), but when youre looking for creative ways to begin generating wealth, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis list includes everything from simple, everyday activities to building out entire businesses.

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But, there are a couple ways you can start earning right away almost no attempt 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 easy passive income just by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5percent on purchases you already make.

By way of example, 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 programs, youll usually need to spend a set amount within the first 60 to 90 days of opening your account in order to be eligible for the bonus.But bear in mind, these offers are only beneficial if you pay off your credit card balance each month.

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Set 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 just two options: 1) Let your automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Car with GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars per year by renting your automobile to others while youre not using it.

By renting your automobile with Getaround, you can make some (if not all) of that money back.As a Getaround automobile owner, you get dedicated parking at the best places in town, a $50 monthly driving credit to rent anything you enjoy, 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 website, drivers can make $400+ each 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 offered in your area.Take your car in to be wrapped, then begin earning passive income together with the driving you already do.3.

In reality, consider yourself lucky if you earn anything in any way! Luckily, 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 accounts thatll generate residual income:CIT Bank  I recently awakened my Bank of America account, which was really 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 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 these days are neck and neck in terms of interest rates and fees, so you cant really go that wrong with any one of them.

In fact, the great majority of millionaires within the previous 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 our website crowdfunded real estateFundrise  when you have an additional $500 laying around, you can now invest in property by means of 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 goals. They have plans that produce residual income, diversification or long-term expansion. Heres our complete Fundrise Review.Another crowdfunding property system to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve must add an extra zero to begin.