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Howeverthere are a couple ways you can start earning right away virtually no effort required!Related: 16 Fun Hobbies That Can Make You Money1. Get Cash Back for Shopping You DoIf you already do a portion of your shopping online, you could be missing out on some simple passive income by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5% on purchases you already make.

For instance, a card may offer 2% cash back on gas and groceries and 1% on all other purchases.Many cash 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 be eligible 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 normal 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, for example, you can potentially make thousands of dollars per year by renting your car to others while youre not using it.

By renting your car with Getaround, you can make some (if not all) of the money back.As a Getaround automobile owner, you become dedicated parking in the best places in town, a $50 monthly driving charge to rent anything you enjoy, and $1 million in main insurance coverage.To take advantage of the passive income opportunity, youll need to make a completely free Getaround account.

According to their site, drivers can make $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 available 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 reality, consider yourself lucky click site if you earn anything in any way! Luckily, online banks have burst onto the scene with some very enticing interest rates. Greater 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, that was actually 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 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. Most of the online savings accounts nowadays are neck and neck in terms of interest rates and fees, so you cant actually go that wrong using any one of these.

In fact, the vast majority of millionaires over the past two centuries have attained their standing, at least in part, from investing in actual estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a few different methods that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you've got 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 see post of 12.25%.With Fundrise, you also get to decide on 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 system to consider:RealtyShares That is comparable 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 do much better (or worse).Whether you opt to invest in just one of these modern REITs or keep in mind that since theyre private funds and not shares, you wont be able to readily liquidate your investment and access your money right away.

However, youll most likely still receive 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 lets you buy properties with as little as 20% down that currently have tenants living in them.