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However, there are a couple of ways that 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 Already DoIf you already do a portion of your shopping online, you could be missing out on some easy passive income by not taking advantage of cash back rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5% on purchases you make.
For instance, a card may offer 2% cash back on gas and groceries and 1% on the other purchases.Many money back credit cards also offer sign-up bonuses. For these programs, youll usually need to spend a set amount within the first 60 to 90 days of opening your account in order to qualify for the bonus.But keep in mind, these offers are only beneficial if you pay off your credit card balance every month.
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Set 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 typical workday.You have just two options: 1) Permit your car sit around and depreciate, or 2) Use it to create some passive income.Rent Your Car with GetaroundWith Getaround, as an example, you can potentially make thousands of dollars each year by renting your automobile to others while youre not using it.
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 start earning passive income with the driving you already do.3.
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In fact, consider yourself lucky if you earn anything in any way! Fortunately, online banks have burst onto the scene with some very enticing interest prices. Higher interest more money you make off your savings.Here are just 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, 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 double win.Or, an alternative option:Discover Like CIT Bank, Discover offers competitive rates on their savings accounts. The majority of the online savings accounts nowadays 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 vast majority of millionaires within the previous two centuries have achieved their standing, at least my site in part, from investing in real estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a couple of different ways that 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 property 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 anchor investment plan based on your financial objectives. They have plans that make residual income, diversification or long-term growth. Heres our full Fundrise Review.Another crowdfunding property system to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve must bring an additional zero to get started.
Instead of relying on the performance of the entire portfolio, you can certainly do much better (or worse).Whether you choose to invest in just one of these modern REITs or keep in mind that since theyre private funds and not shares, you wont have the ability to easily liquidate your investment and click get your money right away.
However, youll most likely still get monthly or monthly payments, depending on which investment opportunity you choose.6. Purchase your first investment propertyRoofstock  Investing in rental properties is one of those 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.