Passive Income In South Korea - Passive Income Ideas for Dummies

But , there are a couple of ways that you can begin earning right away virtually no attempt required!Related: 16 Fun Hobbies Which Can Make You Money1. Get Cash Back for Shopping You Already DoIf you already do a portion of your shopping online, you might be missing out on some simple passive income just by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5percent on purchases you make.

For instance, a card may 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 programs, 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 bear 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) Let your automobile sit around and depreciate( or two ) Use it to create some passive income.Rent Your Car with GetaroundWith Getaround, as an instance, 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 the money back.As a Getaround automobile owner, you get dedicated parking in 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 this passive income opportunity, youll need to make a free Getaround account.

According to their site, drivers can make $400+ each 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 begin earning passive income with the driving you do.3.

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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. Greater interest more money you make off your savings.Here are just two online savings accounts thatll generate residual income:CIT Bank  I recently ditched my Bank of America account, which was actually charging me to maintain my money, and gave CIT Bank a try.Now, for 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 fees, 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 nowadays are neck and neck in terms of interest rates and fees, which means you cant actually go that wrong using any one of these.

In reality, the great majority of millionaires over explanation the previous two centuries have attained their status, at least in part, from investing in real estate.Related: 7 Best 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  If you've got an additional $500 laying around, you can now invest in real estate by means of a Starter Portfolio out of Fundrise.

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In Fundrises most recent performance report, their portfolio generated returns of 12.25%.With Fundrise, you also 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 property system to consider:RealtyShares That is comparable to Fundrise, but the minimum investment is $5,000 so youve got to bring an extra zero to get started.

Instead of relying on the performance of the entire portfolio, you can do better (or worse).Whether you opt to invest in just one of these modern REITs or both, 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 probably still get monthly or quarterly payments, depending on which investment opportunity you select.6. Buy your first investment propertyRoofstock  Investing in rental properties is one of these passive income ideas which can be particularly intimidating, particularly see this here when it comes to finding tenants. Roofstock enables you to purchase properties with as little as 20% down which currently have tenants living in them.