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However, there are a couple of ways you can begin earning right away virtually no effort 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 might be missing out on some easy 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 may 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 own account in order to be eligible for the bonus.But keep in mind, these offers are only beneficial if you repay your credit card balance every 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 normal workday.You have two options: 1) Permit 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 others while youre not using it.

By renting your automobile using Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you become dedicated parking in the best places in town, a $50 monthly driving credit 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 site, drivers can make $400+ per month.In order to begin, youll need to download the app and track 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 with the driving you do.3. Your Domain Name

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In reality, consider yourself lucky if you earn anything in any way! Luckily, online banks have burst onto the scene with some really enticing interest rates. Greater 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 really charging me to maintain 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 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 prices on their savings accounts. Most of the online savings accounts these days are neck additional info and neck in terms of interest rates and charges, which means you cant really go that wrong with any one of them.

In fact, the vast majority of millionaires within the previous two centuries have attained their standing, at least in part, from investing in real estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a few different ways you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  when you've got an additional $500 laying around, you can now invest in real estate via 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 decide on 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 This is comparable to Fundrise, but the minimum investment is $5,000 so youve must add an additional zero to begin.

Instead of relying on the performance of the entire portfolio, then you can do better (or worse).Whether you opt to invest in only one of those modern REITs or both, keep in mind that since theyre private funds and not stocks, you wont have the ability to easily liquidate your investment and get your cash straight away.

However, youll probably still receive monthly or monthly payments, depending on which investment opportunity you select.6. Purchase your first investment propertyRoofstock  Investing in rental properties is one of these passive income ideas that can be extremely intimidating, especially when it comes to finding tenants. Roofstock enables you to purchase properties with as few as 20% down which currently have tenants living in them.