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However, there are a couple of ways you can begin earning right away virtually no effort required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You Already DoIf you do a portion of your shopping online, you might be missing out on some simple passive income just by not taking advantage of money rewards.Cash Back Credit CardsCash back credit cards offer a percentage typically 1-5% 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 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 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 make some passive income.Rent Your Automobile Using GetaroundWith Getaround, for example, you can potentially make thousands of dollars each year by renting your automobile to others while youre not using it.

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

According to their website, drivers can make $400+ per month.In order to get started, youll need to download the program and monitor 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 start 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! Luckily, online banks have burst onto the scene with some really enticing interest rates. Greater interest money you make off your savings.Here are two online savings accounts thatll generate residual income:CIT Bank  I recently awakened my Bank of America account, that was actually charging navigate to these guys 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 rates 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 their website really go that wrong using any one of these.

In reality, the great majority of millionaires within the past two centuries have achieved their status, at least in part, from investing in real 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 actual estateFundrise  If you've got an additional $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 also get to decide on an investment plan based on your financial goals. They have plans that make residual income, diversification or long-term expansion. Heres our full Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve must bring an extra zero to get started.

Instead of relying on the performance of page the entire portfolio, then you can do much 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 stocks, you wont have the ability to easily liquidate your investment and access your money right away.

But, youll probably still receive monthly or monthly payments, depending on which investment opportunity you choose.6. Buy your first 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 lets you purchase properties with as little as 20% down which already have tenants living in them.