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But there are a couple ways that you can begin earning right away almost no effort required!Related: 16 Fun Hobbies Which 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 simple passive income by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5% on purchases you already make.

By way of example, a card may offer 2% cash back on gas and groceries and 1% on the other purchases.Many cash back credit cards also supply 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 bear in mind, these offers are only beneficial if you pay off your credit card balance each 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 Using GetaroundWith Getaround, as an 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 with Getaround, you can make some (if not all) of that money back.As a Getaround automobile owner, you get dedicated parking in the best spots in town, a $50 monthly driving credit to rent anything you like, and $1 million in primary insurance coverage.To take advantage of the passive income opportunity, youll need to create a free Getaround account.

According to their site, drivers can make $400+ each month.In order to get started, youll need to download the app and track 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 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 rates. Higher 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, which was really charging me to hold my money, and gave CIT Bank a try.Now, for a 1.55% return.

Granted, official statement 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. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, which means you cant really go that wrong using any one of these.

In fact, the vast majority of millionaires over the 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 have an additional $500 laying around, you can now invest in property via a Starter Portfolio out of Fundrise.

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In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you get to pick an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term growth. Heres our full Fundrise look here Review.Another crowdfunding real estate system to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve must add an additional zero to begin.

Instead of relying on the performance of the entire portfolio, then you can do much better (or worse).Whether you opt to invest in only one of these modern REITs or both, keep in mind that since theyre private funds and not stocks, you wont have the ability to easily liquidate your investment and get your money straight away.

But, youll probably still get monthly or quarterly payments, depending on which investment opportunity you choose.6. Buy your first investment propertyRoofstock  Investing in rental properties is one of these passive income ideas which can be extremely intimidating, particularly when it comes to finding tenants. Roofstock enables you to purchase properties with as little as 20% down that already have tenants living in them.