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Get Money 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 real estate6. Purchase 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. Create and sell 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 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 begin generating wealth, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis list includes everything from simple, everyday tasks to building out entire businesses.

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However, there are a couple of ways you can start earning right away almost no effort required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You Already DoIf you 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 1-5% on purchases you already make.

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

By renting your car using Getaround, you can make some (if not all) of that money back.As a Getaround automobile owner, you get dedicated parking in the best places in town, a $50 monthly driving credit to rent anything you like, and $1 million in primary insurance coverage.To take advantage of this passive income opportunity, youll need to create a completely free Getaround account.

According to their website, drivers can make $400+ per month.In order to begin, youll need to download the app and monitor your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then begin earning passive income with the driving you do.3.

In fact, consider yourself blessed if you earn anything at all! Luckily, online banks have burst onto the scene with some really enticing interest prices. Greater interest more money you make off your savings.Here are two online savings accounts thatll generate residual income:CIT Bank  I recently ditched over at this website my Bank of America account, that was really 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 charges, I consider CIT Bank a dual 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 vast majority of millionaires over the past two centuries have achieved their status, at least in part, from investing in actual estate.Related: 7 Finest 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  when 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 also get to decide on an investment plan based on your financial goals. They have plans that make residual income, diversification or long-term expansion. 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 extra zero to begin.