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Get Money 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.

Start a YouTube Channel13. Create and sell 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 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.

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 when 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 that you can start earning right away virtually no attempt required!Related: 16 Fun Hobbies That Can Make You Money1. Get Cash Back for Shopping You DoIf you already do a portion of your shopping online, you could be missing out on some simple passive income by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5percent on purchases you already make.

For instance, 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 apps, 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 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 normal workday.You have two options: 1) Let 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 automobile to other people 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 automobile owner, you get dedicated their website parking in the best spots in town, a $50 monthly driving credit to rent anything you enjoy, and $1 million in primary insurance coverage.To take advantage of this passive income opportunity, youll need look at this website to make a completely free Getaround account.

According to their site, drivers can earn $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 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 at all! Luckily, online banks have burst onto the scene with some really 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 hold 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 dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive rates on their savings accounts. The majority of the online savings accounts these days are neck and neck in terms of interest rates and fees, which means you cant really go that wrong using any one of them.

In reality, 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 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 additional $500 laying around, you can now invest in real estate by means of a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also get to decide on an investment plan based on your financial goals. They have plans that produce residual income, diversification or long-term expansion. Heres our full Fundrise Review.Another crowdfunding property platform to consider:RealtyShares This is comparable to Fundrise, but the minimum investment is $5,000 so youve got to bring an extra zero to begin.