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But there 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 Already DoIf you already do a portion of your shopping online, you could be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5percent on purchases you make.

By way of 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 predetermined amount within the first 60 to 90 days of opening your own account in order to be eligible for the bonus.But bear 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 stays 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 instance, you can potentially make thousands of dollars per year by renting your car to other people while youre not using it.

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

According to their website, drivers can make $400+ per month.In order to get started, youll need to download the app 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 begin 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 really enticing interest rates. Greater interest 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 actually charging me to hold my money, and gave CIT Bank a try.Now, for a 1.55% return.

Granted, Im like it 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 rates on their savings accounts. Most of the online savings accounts these days are neck and neck in terms of interest rates and charges, so you cant really go that wrong using any one of them.

In fact, Home Page the great majority of millionaires over the previous two centuries have attained their status, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a few different methods 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 property via a Starter Portfolio from Fundrise.

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In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you get to decide on an investment plan based on your financial objectives. They have plans that make residual income, diversification or long-term expansion. Heres our complete Fundrise Review.Another crowdfunding property advice system to consider:RealtyShares That is similar 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, then you can do much better (or worse).Whether you opt to invest in just one of these modern REITs or both, keep in mind that since theyre private funds and not shares, you wont have the ability to easily liquidate your investment and access your money straight away.

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

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