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Get Cash 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 first investment property7. Invest in dividend paying stocks8. Peer-to-Peer Lending9. Start investing with a robo-advisor10. Affiliate marketing11.

Begin 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 most basic 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 type 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 start generating wealth, here are my top 15 passive income ideas.15 Passive Income Ideas 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 you can start earning right away almost no effort 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 just 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.

By way of example, a card may offer 2% cash back on gas and groceries and 1% on all 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 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 sits around not being used while youre traveling, on vacation, or even during your normal workday.You have just two options: 1) Let your car sit around and depreciate, or 2) Use it to create some passive income.Rent Your Car Using GetaroundWith Getaround, for example, you can potentially make thousands of dollars each year by renting your automobile to others while youre not using it.

By renting your automobile with Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you become dedicated parking in the best spots in town, a $50 monthly driving charge to rent anything 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 earn $400+ per month.In order to begin, youll need to download the app and monitor this article your driving. Once you meet the minimum qualifications, youll be notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then start earning passive income with the driving you do.3.

In reality, consider yourself lucky if you earn anything in any way! Luckily, online banks have burst onto the scene with some very enticing interest rates. Higher interest money you make off your savings.Here are just two online savings accounts thatll generate residual income:CIT Bank  I recently ditched my Bank of America account, which was actually charging me to maintain 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 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 nowadays are neck and neck in terms of interest rates and charges, which means you cant actually go that wrong with any one of them.

In fact, the great majority of millionaires over the previous two centuries have achieved their status, at least in part, from investing in real 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 actual estateFundrise  when you have an additional $500 laying around, you can now invest in real estate via a Starter Portfolio out of Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you 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 complete Fundrise Review.Another crowdfunding property system to consider:RealtyShares This is comparable to Fundrise, but the minimum investment is $5,000 so youve must bring an extra zero to get started.