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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 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.

Start a YouTube Channel13. Create and market 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 simply relaxing.

All these involve making some type of investment or cash outlay in order to generate a return.Im not saying to stop your job (not yet), but when youre looking for creative ways to begin generating riches, here are my top 15 passive income thoughts.15 Passive Income Suggestions Worth ResearchingThis listing includes everything from easy, everyday tasks to building out entire businesses.

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But, there are a couple of ways you can begin earning right away almost no attempt 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 could be missing out on some simple passive income by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5percent on purchases you make.

For example, a card may offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash back credit cards also supply sign-up bonuses. For these programs, youll usually 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 bear in mind, these offers are only beneficial if you repay 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 automobile sit around and depreciate, or 2) Use it to make some passive income.Rent Your Car with GetaroundWith Getaround, for 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 using Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you get dedicated parking in the best places in town, a $50 monthly driving credit to rent whatever you enjoy, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to create a completely free Getaround account.

According to their site, drivers can make $400+ per 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 available in your area.Take your vehicle in to be wrapped, then start earning passive income with the driving you already do.3.

In fact, consider yourself lucky if you earn anything in any way! Luckily, online banks have burst onto the scene with some really enticing interest rates. Higher interest 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, which was really 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 rates on their savings accounts. Most of the online savings accounts these days are neck and neck in terms of interest rates and fees, which means you cant really go that wrong with any one of them.

In reality, the great majority of millionaires over the previous two centuries have attained their standing, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a few different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  when you have an extra $500 laying around, you can now invest in real estate by means of a Starter Portfolio from Fundrise.

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 make residual income, diversification or long-term growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve must my review here add an extra zero to get started.