Passive Income Ideas In South Korea for Dummies

However, there are a couple ways that you can begin earning right away virtually no attempt required!Related: 16 Fun Hobbies That 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 by not taking advantage of money back rewards.Cash Back Credit CardsCash back credit cards offer a percentage generally 1-5percent on purchases you make.

By way of 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 usually 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 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 stays around not being used while youre traveling, on vacation, or even during your normal workday.You have two options: 1) Let 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 car to other people 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 automobile owner, you become dedicated parking at the best places 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 site, drivers can earn $400+ each month.In order to get started, youll need to download the program and monitor 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 start here are the findings earning passive income with the driving you already do.3.

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In fact, consider yourself lucky if you earn anything at all! Fortunately, online banks have burst onto the scene with some really 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 really 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 free money. have a peek here 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 these days are neck and neck in terms of interest rates and charges, which means you cant really go that wrong using any one of them.

In reality, the great majority of millionaires within the past two centuries have achieved their standing, at least in part, from investing in actual estate.Related: 7 Best Short-Term Investments for Growing Your MoneyHere are a few different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded real estateFundrise  If you have an additional $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 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 read the article the minimum investment is $5,000 so youve got to add an extra zero to get started.

Instead of relying on the performance of the entire portfolio, you can 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 money straight away.

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