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But , there are a couple ways you can start earning right away almost no effort required!Related:Â 16 Fun Hobbies Which 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 just by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards provide a percentage typically 1-5percent on purchases you already make.
By way of 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 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 pay off 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 car sit around and depreciate( or two ) Use it to create some passive income.Rent Your Car Using 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 website, drivers can earn $400+ per month.In order to begin, youll need to download the program 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 already do.3.
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In fact, consider yourself blessed if you earn anything at all! Fortunately, online banks have burst onto the scene with some very enticing interest rates. Greater interest more 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, that 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 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 using any one of them.
In fact, 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 Finest Short-Term Investments read here for Growing Your MoneyHere are a couple of different methods 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 via a Starter Portfolio from Fundrise.
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In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you 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 property platform to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve must add an extra zero to get started.
Instead of relying on the performance of the entire portfolio, then you can certainly do better (or worse).Whether you choose to invest in only one of those modern REITs or both, keep in mind that since theyre private funds and not stocks, you wont be able to readily liquidate your investment and get your cash straight away.
However, youll here are the findings probably still get monthly or quarterly payments, depending on which investment go to my blog opportunity you select.6. Buy your initial investment propertyRoofstock  Investing in rental properties is one of those passive income thoughts which can be extremely intimidating, particularly when it comes to finding tenants. Roofstock lets you purchase properties with as little as 20% down that currently have tenants living in them.