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Get Cash Back for Shopping You Already 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. Buy your initial 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 Pictures 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 could be sleeping, on the beach drinking margaritas, or just relaxing.

These all involve making some type of investment or money outlay in order to generate a return.Im not saying to quit your job (not yet), but when youre looking for creative ways to start generating wealth, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis list includes everything from easy, everyday tasks to building out entire businesses.

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But, there are a couple ways 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 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 typically 1-5percent on purchases you already make.

For instance, 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 programs, youll generally need to spend a predetermined 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 repay your credit card balance each 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 automobile sit around and depreciate( or two ) Use it to make some passive income.Rent Your Car Using GetaroundWith Getaround, for example, you can potentially make thousands of dollars per year by renting your automobile to others 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 places 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+ each month.In order to begin, youll need to download the program and monitor your driving. Once you satisfy the minimum qualifications, youll be notified when a campaign is offered in your area.Take your vehicle in to be wrapped, then begin earning passive income together with the driving you do.3.

In fact, consider yourself blessed if you earn anything at all! Luckily, online banks have burst onto the scene with some really enticing interest prices. Greater interest money you make off your savings.Here are 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 still free money. And since there are no monthly charges, I consider CIT Bank a double win.Or, an alternative option:Discover  description Like CIT Bank, Discover offers competitive prices on their savings accounts. Most of the online savings accounts these days are neck and neck in terms of interest rates and charges, so you cant really go that wrong using any one of these.

In fact, the great majority of millionaires over the previous two centuries have attained 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 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 expansion. Heres our full Fundrise Review.Another crowdfunding property system to consider:RealtyShares This is similar to Fundrise, but my sources the minimum investment is $5,000 so youve got to bring an extra zero to get started.