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Get Cash Back for Shopping You Do2. Put Your Car to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded actual 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. Construct 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 could be sleeping, on the beach drinking margaritas, or simply relaxing.

These all involve making some type of investment or cash outlay in order to generate a return.Im not saying to stop your job (not yet), but if youre looking for creative ways to begin generating riches, here are my top 15 passive income ideas.15 Passive Income Suggestions Worth ResearchingThis list includes everything from simple, everyday tasks to building out entire businesses.

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But, there are a couple ways you can begin earning right away virtually no effort required!Related: 16 Fun Hobbies That Can Make You Money1. Get Cash Back for Shopping You Already DoIf you already do a portion of your shopping online, you might be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5% 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 be eligible for the bonus.But keep in mind, these offers are only beneficial if you pay off your credit card balance every 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 two ) Use it to create some passive income.Rent Your Car with GetaroundWith Getaround, for example, you can potentially make thousands of dollars each year by renting your car to other people while youre not using it.

By renting your automobile with Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you become dedicated parking in the best spots in town, a $50 monthly driving credit to rent whatever you enjoy, 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+ per month.In order to get started, youll need to download the program and track 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 together 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 prices. Higher interest 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 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 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, 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 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 real estateFundrise  when you have an additional $500 this article laying around, you can now invest in property via a Starter Portfolio from Fundrise.

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