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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 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. 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 might be sleeping, on the beach drinking margaritas, or simply relaxing.

All these involve making some sort of investment or money outlay in order to generate a return.Im not saying to stop 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 Ideas Worth ResearchingThis list includes everything from easy, regular 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 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 cash rewards.Cash Back Credit CardsCash back credit cards offer 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 cash back credit cards also supply sign-up bonuses. For these programs, youll generally need to spend a predetermined 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 repay your credit card balance every month.

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Put 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 automobile sit around and depreciate( or two ) Use it to make some passive income.Rent Your Automobile Using GetaroundWith Getaround, by way of example, you can potentially make thousands of dollars each year by renting your automobile to other people while youre not using it.

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

According to their website, drivers can site make $400+ each month.In order to get started, youll need to download the app 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 in any way! Luckily, online banks have burst onto the scene with some very 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 awakened my Bank of America account, which was actually 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. The majority of the online savings accounts these days are neck and neck in terms of interest rates and charges, so you cant actually go that wrong with any one of these.

In fact, the vast majority of millionaires within the past two centuries have attained their status, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of different ways you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you've got an extra $500 laying around, you can now invest in property via 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 decide on an investment plan based on your financial goals. They have plans that make residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an extra zero to get started.