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But , 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 DoIf you do a portion of your shopping online, you could be missing out on some easy passive income by not taking advantage of cash back rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5% on purchases you already make.

For example, a card can offer 2% cash back on gas and groceries and 1% on the 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 qualify for the bonus.But keep in mind, these offers are only beneficial if you repay your credit card balance every 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 normal workday.You have just two options: 1) Permit your car sit around and depreciate( or two ) Use it to create some passive income.Rent Your Car Using GetaroundWith Getaround, for instance, you can potentially make thousands of dollars per year by renting your automobile to other people while youre not using it.

By renting your automobile using Getaround, you can make some (if not all) of the money back.As a Getaround car owner, you become dedicated parking at the best spots in town, a $50 monthly driving charge to rent whatever 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+ per month.In order to get started, youll need to download the app 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 start earning passive income with the driving you already do.3.

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In reality, consider yourself blessed if you earn anything at all! Fortunately, online banks have burst onto the scene with some very enticing interest rates. Higher interest money you make off your savings.Here are two online savings accounts thatll generate residual income:CIT Bank  I recently ditched my Bank of America account, that was really 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 pop over to this site monthly fees, I consider CIT Bank a double 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 these.

In reality, the great majority of millionaires over the past two centuries have achieved their status, at least in part, from investing in actual estate.Related: 7 Finest Short-Term Investments for Growing Your MoneyHere are a couple of different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  when 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 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 growth. 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, then you can try this website do better (or worse).Whether you choose to invest in just one of those modern REITs or keep in mind that since theyre private funds and not shares, you wont have the ability to readily liquidate your investment and get your cash straight away.

But, youll most likely still receive monthly or monthly payments, depending on which investment opportunity you select.6. Purchase your first investment propertyRoofstock  Investing in rental properties is one of these passive income thoughts which can be particularly intimidating, especially when it comes to finding tenants. Roofstock enables you to buy properties with as little as 20% down which currently have tenants living in them.