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

For instance, a card can 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 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 keep in mind, these offers are only beneficial if you pay off your credit card balance every 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 two options: 1) Let your automobile sit around and depreciate( or two ) 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 other people while youre not using it.

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 places in town, a $50 monthly driving credit to rent whatever you enjoy, and $1 million in main 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+ per month.In order to begin, youll need to download the program and track your driving. Once you satisfy 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 reality, consider yourself blessed if you earn anything in any way! Fortunately, online banks have burst onto the scene with some very enticing interest prices. Higher 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, 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 rates on their savings accounts. The majority of the online savings accounts nowadays 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 over the past two centuries have attained their standing, at least in part, from investing in real estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a few different ways that 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 from 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 complete Fundrise Review.Another crowdfunding real estate platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so great post to read youve got to bring an extra zero to get started.

Instead of relying on the performance of the entire portfolio, you can certainly do better (or worse).Whether you choose to invest in just one of those modern REITs or keep in mind that since theyre have a peek at these guys private funds and not shares, you wont have the ability to easily liquidate your investment and get your money right away.

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