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In addition, I have other credit cards that earn higher percentages of money back for certain purposes. Both the Chase Freedom card and the Discover It card may earn 5 percent cash back on purchases in specific categories that rotate every month. I love being able to rack up 5 percent cash back to things I need to buy anyway, like groceries and gas. .
Personally, I prefer cash back credit cards to travel benefits because I find that the points system on a great deal of travel rewards cards to be confusing. But many people enjoy being able to earn points on travel rewards cards. If thats the case for you, visit this page to see an updated list of the best travel rewards credit cards. .
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Credit card companies arent the only ones that are willing to pay you to open an account. Some banks will provide you a bonus only for opening a checking or savings account. Again, this isnt something that youre going to do all of the time, but it is an effortless way to produce a little extra money with no work involved. .
If you want to place your money to work but youre not comfortable picking and managing the investments yourself, a robo adviser might be a great match for you. You will find a growing number of companies offering those solutions. Youll enter some information linked to your age, goals, and risk tolerance, and they'll handle the rest.
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Blooom is a robo adviser that specializes in 401(k) accounts. You can find a free analysis of your 401(k) to see Bloooms recommendations. In the event you choose to use their service it can cost you $10 a month, fixed amount rather than a percentage of your investments.
Betterment is one of the most popular robo advisors. Betterment will direct you through personalized planning based on your personal situation, and see this then it will make a diversified portfolio and rebalance it. The cost is 0.25% off your balance, annually.
In relation to being passive, it doesnt get much more passive than allowing technology to perform the work for you.
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One way to invest and make money passively would be to automate the process. Acorns is an app that can invest your spare change automatically. When you make a purchase it will round up to the next dollar and invest the difference. You can even set up automatic recurring investments if youd prefer to develop your account faster. .
If youre looking for a passive side hustle, how about allowing your car to be Utilized as an advertisement
There are some different companies out there that meet up advertisers with automobile owners who want to generate a little extra money. It might be a rear window advertisement, panel, or full wrap. The advertisement will be removable, will not damage your vehicle, and theyll really install it to you.
Some of the biggest companies in this industry are:.
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One approach to make some money without much effort would be to rent out your stuff to other people. There are a whole lot of possibilities , and it really depends on what you have, and what you dont mind other people using. Fortunately, there are also a number of sites that enable you to record your items for rent, and make it easy for renters to find you. .
Fat Lama At Fat Lama you can rent nearly anything from electronics, to sporting goods, to baby things.
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BabyQuip In BabyQuip you can rent all kinds of baby items out of cribs to toys to safety gates. This can be an perfect side business, especially if youre situated in a area which attracts a lot of tourists and vacationers that may not be able to bring everything out of home.
Getaround and Turo These two sites enable you to list your vehicle for rent. People can rent out of you rather than going to one of the major chains, and you can produce a few thousand dollars per year doing this.
RVshare RVshare allows you to set an RV for rent, which can be a potentially lucrative side hustle.
Boatsetter and GetMyBoat In case you've got a boat which you dont use very often, list it for rent on one of those sites.
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When you have a spare bedroom in your house you may make some money without too much effort by allowing someone to rent the room. It might be a local school student, a single person looking for a cheap place to live, or you might rent it out nightly. A popular side hustle is to use websites like:.