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But there are a couple of ways you can start earning right away almost no attempt required!Related:Â 16 Fun Hobbies That Can Make You Money1. Get Cash Back for Shopping You DoIf you do a portion of your shopping online, you might be missing out on some easy passive income just by not taking advantage of cash back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you already make.
For 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 predetermined amount within the first 60 to 90 days of opening your own account in order to qualify for the bonus.But bear 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 two options: 1) Permit your automobile sit around and depreciate( or two ) Use it to create some passive income.Rent Your Car with GetaroundWith Getaround, as an instance, you can potentially make thousands of dollars per year by renting your car to other people while youre not using it.
According to their site, drivers can make $400+ each month.In order to begin, youll need to download the app and track your driving. Once you meet the minimum qualifications, youll be notified when a campaign is available in your area.Take your vehicle in to be wrapped, then begin earning passive income with the driving you do.3.
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In reality, consider yourself lucky if you earn anything in any way! Fortunately, online banks have burst onto the scene with some really enticing interest Continued rates. Higher interest more 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 really charging me to maintain my money, and gave CIT Bank a try.Now, I get 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 charges, I consider CIT Bank a dual win.Or, an alternative option:Discover Like CIT Bank, Discover offers competitive prices on their savings accounts. The majority of the online savings accounts these days are neck and neck in terms of interest rates and charges, which means you cant really go that wrong with any one of these.
In fact, the vast majority of millionaires within the go to the website past two centuries have attained 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 ways you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  when you've got an extra $500 laying around, you can now invest in real estate via a Starter Portfolio out of Fundrise.
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In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you also get to pick an investment plan based on your financial goals. They have plans that produce residual income, diversification or long-term expansion. Heres our complete Fundrise Review.Another crowdfunding real estate platform to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve got to add an additional zero to begin.
Instead of relying on the performance of the entire portfolio, then you can certainly do much better (or worse).Whether you opt to invest these details in just one of these modern REITs or keep in mind that since theyre private funds and not stocks, you wont have the ability to readily liquidate your investment and access your money right away.
However, youll most likely still get monthly or monthly payments, depending on which investment opportunity you select.6. Buy your initial investment propertyRoofstock  Investing in rental properties is one of those passive income ideas which can be particularly intimidating, particularly when it comes to finding tenants. Roofstock enables you to buy properties with as little as 20% down that already have tenants living in them.