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However, there are a couple of ways you can start 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 do a portion of your shopping online, you might be missing out on some simple passive income by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you make.

By way of instance, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many money 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 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 typical workday.You have just 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, as an instance, you can potentially make thousands of dollars each year by renting your car to other people 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 automobile owner, you become dedicated parking in the best spots in town, a $50 monthly driving charge to rent anything you enjoy, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to create a completely free Getaround account.

According to their site, drivers can earn $400+ each 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 car in to be wrapped, then begin earning passive income together with the driving you do.3.

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In reality, consider yourself blessed if you earn anything in any way! Luckily, online banks have burst onto the scene with some very enticing interest prices. why not look here Greater interest more money you make off your savings.Here are just 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, for a 1.55% return.

Granted, Im not going to get rich off this investment, but its still free money. And since there are no monthly fees, I consider CIT Bank a double win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive rates 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 really go that wrong using any one of them.

In fact, the vast majority of millionaires over the past two centuries have attained their status, at least in part, from investing in actual 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  If you've got an extra $500 laying around, you can now invest in real estate by means of a Starter Portfolio from Fundrise.

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In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also get to pick 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 real estate system to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve got to add an extra zero to begin.

Instead of relying on the performance of the entire portfolio, then you can certainly do much better (or worse).Whether you choose to invest in only one of these modern REITs or both, keep in mind that since theyre private funds and not shares, you wont be able to readily liquidate your investment and get your cash straight away.

But, youll probably still receive monthly or monthly payments, depending on which investment opportunity you choose.6. Purchase your first investment propertyRoofstock  Investing in rental properties is one of those passive income thoughts that can be particularly intimidating, particularly when it comes to finding tenants. Roofstock lets you buy properties with as little as 20% down which currently have tenants living in them.