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Howeverthere are a couple ways that 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 Already DoIf you already do a portion of your shopping online, you could be missing out on some easy passive income just by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 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 the other purchases.Many money back credit cards also supply sign-up bonuses. For these apps, youll generally need to spend a predetermined amount within the first 60 to 90 days of opening your own account in order to qualify for the bonus.But keep in mind, these offers are only beneficial if you repay 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 typical 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 Automobile with GetaroundWith Getaround, as an instance, you can potentially make thousands of dollars per year by renting your car to others while youre not using it.

By renting your automobile using Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you get dedicated parking in the best places in town, a $50 monthly driving charge to rent whatever you like, 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 website, drivers can make $400+ each month.In order to begin, youll need to download the app and monitor your driving. Once you meet the minimum qualifications, youll be notified when a campaign is available in your area.Take your car in to be wrapped, then begin earning passive income with the driving you already do.3.

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In fact, consider yourself lucky if you earn anything at all! Fortunately, online banks have burst onto the scene with some really enticing interest rates. Higher interest money you next page 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 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 dual win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices on their savings accounts. Most of the online savings accounts these days are neck and neck in terms of interest rates and fees, so you cant really go that wrong using any one of them.

In reality, the vast majority of millionaires within the past two centuries have achieved 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 methods you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  If you have an extra $500 laying around, you can now invest in real estate via a Starter Portfolio out read this of 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 full Fundrise Review.Another crowdfunding real estate system to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve got to bring an additional zero to begin.

Instead of relying on the performance of the entire portfolio, you can certainly do better (or worse).Whether you opt to invest in just one of those 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 straight away.

However, youll most likely still receive monthly or monthly payments, depending on which investment opportunity you click over here now select.6. Purchase your initial investment propertyRoofstock  Investing in rental properties is one of those passive income ideas which can be extremely intimidating, especially when it comes to finding tenants. Roofstock enables you to buy properties with as few as 20% down which already have tenants living in them.