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Get Cash Back for Shopping You Already Do2. Put Your Vehicle 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.

Begin a YouTube Channel13. Make and market an online course14. Construct an e-commerce site15. Sell Your Pictures OnlineHow to Pick 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 could be sleeping, on the beach drinking margaritas, or just relaxing.

These all involve making some sort of investment or cash outlay in order to generate a return.Im not saying to quit your job (at least 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 listing includes everything from simple, regular activities to building out entire businesses.

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But, there are a couple ways you can begin earning right away almost no effort required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You DoIf you already do a portion of your shopping online, you might be missing out on some simple passive income by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5percent on purchases you already 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 apps, youll usually need to spend a set amount within the first 60 to 90 days of opening your 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 each 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 just two options: 1) Permit your car sit around and depreciate, or 2) Use it to make some passive income.Rent Your Automobile with GetaroundWith Getaround, for 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 get dedicated parking at the best spots anonymous in town, a $50 monthly driving credit to rent whatever you like, and $1 million in primary insurance coverage.To take advantage of this passive income opportunity, youll need to create a free Getaround account.

According to their site, drivers can earn $400+ each month.In order to begin, youll need to download the program and monitor 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 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 rates. Higher interest more 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 actually 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 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. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and fees, which means you cant really go that wrong using any one of these.

In fact, the great majority of millionaires within the previous two centuries have achieved their standing, 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 expansion. Heres our full Fundrise Review.Another crowdfunding property system to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to get started.

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