Passive Income In Thailand for Beginners

Get Money Back for Shopping You Do2. Put Your Car to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded actual estate6. Buy your first investment property7. Invest in dividend paying stocks8. Peer-to-Peer Lending9. Start investing with a robo-advisor10. Affiliate marketing11.

Begin a YouTube Channel13. Create and market an online course14. Construct an e-commerce site15. Sell Your Photos OnlineHow to select the Best Passive Income Stream for YouWhat is Passive IncomeAt its most basic definition, passive income, also known as residual income, is money you earn while youre not working. You could be sleeping, on the beach drinking margaritas, or just relaxing.

All these involve making some sort of investment or cash outlay in order to generate a return.Im not saying to quit your job (not yet), but when youre looking for creative ways to start generating riches, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis listing includes everything from easy, everyday activities to building out entire businesses.

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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 Which 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 just by not taking advantage of cash 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 money back credit cards also offer sign-up bonuses. For these apps, 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 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) Permit your automobile sit around and depreciate, or 2) 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 automobile to others 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 car owner, you get dedicated parking at the best spots in town, a $50 monthly driving charge to rent whatever you enjoy, and $1 million in primary 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+ per month.In order to begin, youll need to download the you can check here app and track 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.

In fact, consider yourself blessed if you earn anything at all! Luckily, 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, which was really charging me to maintain my money, and gave CIT Bank a try.Now, I get a 1.55% return.

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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 double 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 really go that wrong with any one of these.

In fact, the vast majority of millionaires over the past two centuries have attained 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 methods you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you have an extra $500 laying around, you look at this website can now invest in property by means of a Starter Portfolio from Fundrise.

In Fundrises most recent performance report, their portfolio generated returns of 12.25%.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 growth. Heres our complete Fundrise Review.Another crowdfunding property platform to consider:RealtyShares This is similar to Fundrise, but the minimum investment is $5,000 so youve must add an extra zero to begin.