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However, there are a couple ways 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 already do a portion of your shopping online, you could be missing out on some easy 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 make.

By way of example, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many money back credit cards also offer sign-up bonuses. For these programs, youll generally 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 two options: 1) Let your automobile sit around and depreciate( or two ) Use it to create some passive income.Rent Your Automobile 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.

By renting your car using Getaround, you can make some (if not all) of that money back.As a Getaround car owner, you get dedicated parking at the best spots in town, a $50 monthly driving charge to rent anything you like, and $1 million in main insurance coverage.To take advantage of the passive income opportunity, youll need to create 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 track your driving. Once you meet 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 together with the driving you already do.3.

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In fact, consider yourself blessed if you earn anything in any way! Luckily, online banks have burst onto the scene with some really 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 ditched 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 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 rates on their savings accounts. Most of the online savings accounts these days are neck and neck in terms of interest rates and fees, which means you could check here you cant actually go that wrong with any one of them.

In reality, the great majority of millionaires over the past two centuries have achieved their standing, at least in part, from investing in actual estate.Related: 7 Best 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 real estateFundrise  If you've got an additional $500 laying around, you can now invest in real estate by means of 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 also get to pick 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 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 get started.

Instead of relying on the have a peek at these guys 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 both, keep in mind that since theyre private funds and not stocks, you wont have the ability to readily liquidate your investment and get your money right away.

But, youll probably still get monthly or quarterly payments, depending on which investment opportunity you choose.6. Purchase your initial investment propertyRoofstock  Investing in rental properties is one of these passive income thoughts which can be extremely intimidating, particularly 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.