The Ultimate Guide To Passive Income In Thailand

Get Money Back for Shopping You Already Do2. Put Your Vehicle to Work for You3. Open a high-yield savings account4. Rent out a room in your house5. Invest in crowdfunded real estate6. Purchase 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. Build an e-commerce site15. Sell Your Pictures 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 type 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 begin generating wealth, here are my top 15 passive income thoughts.15 Passive Income Ideas Worth ResearchingThis list includes everything from easy, everyday tasks to building out entire businesses.

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However, there are a couple ways that you can start earning right away almost 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 simple passive income by not taking advantage of cash back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5% on purchases you make.

For instance, a card may offer 2% cash back on gas and groceries and 1% on the other purchases.Many cash back credit cards also supply sign-up bonuses. For these programs, youll generally need to spend a set 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 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 typical 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 with GetaroundWith Getaround, for example, you can potentially make thousands of dollars each year by renting your automobile to other people while youre not using it.

By renting your car 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 credit to rent whatever you enjoy, and $1 million in main insurance coverage.To take advantage of this passive income opportunity, youll need to create a free Getaround account.

According to their site, drivers can earn $400+ per month.In order to get started, youll need to download the app and monitor your driving. Once you meet the minimum qualifications, youll be notified when a campaign is offered in your area.Take your car in to be wrapped, then start earning passive income with the driving you already do.3.

In fact, consider yourself blessed if you earn anything in any way! click reference Fortunately, online banks have burst onto the scene with some very enticing interest prices. Higher interest more 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, for 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 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 these days are neck and neck in terms of interest rates and fees, which means you cant really go that wrong using any one of them.

In reality, the vast majority of millionaires within the past two centuries have attained their status, 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  when you have an extra $500 laying around, you can now invest in property via a Starter Portfolio from Fundrise.

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