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Get Money Back for Shopping You 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 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 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 just relaxing.

These all involve making some sort 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 begin generating wealth, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis list includes everything from simple, regular activities to building out entire businesses.

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However, there are a couple ways you can start earning right away almost no attempt required!Related: 16 Fun Hobbies Which 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 simple passive income by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5% on purchases you make.

By way of example, a card may offer 2% cash back on gas and groceries and 1% on the other purchases.Many cash back credit cards also supply 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 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 stays around not being used while youre traveling, on vacation, or even during your typical workday.You have two options: 1) Let your car sit around and depreciate( or two ) Use it to create some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of instance, 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 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 website, drivers can make $400+ each month.In order to begin, youll need to download the app and track your driving. Once you meet the minimum qualifications, youll be notified when a here are the findings campaign is available in your area.Take your car in to be wrapped, then start earning passive income with the driving you 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 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 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 still 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 prices on their savings accounts. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and fees, so you cant actually go that wrong using any one of them.

In reality, the vast majority of millionaires within the past 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 ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  If you've got an extra $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 12.25%.With Fundrise, you 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 complete Fundrise Review.Another crowdfunding real estate 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.