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In addition, I have other credit cards that earn higher percentages of money back for certain purposes. The Chase Freedom card and the Discover It card will earn 5% cash back on purchases in particular classes that rotate each month. I really like being able to rack up 5% cash back for things I need to purchase anyway, like groceries and gasoline. .
Personally, I prefer cash back credit cards travel benefits because I find the points system on a lot of travel rewards cards to be confusing. But many people love being able to earn points on travel rewards cards. If thats the case for you, see this page to find an updated list of the best travel rewards credit cards. .
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Charge card companies arent the only ones who are willing to pay you to open an account. Some banks will give you a bonus only for opening a checking or savings account. Again, this isnt something that youre going to do all the time, but it is an effortless method to produce a little extra money with no work involved. .
If you want to put your money to work but youre not comfortable picking and managing the investments , a robo adviser might be a good fit for you. There are a growing number of companies offering those services. Youll enter some information related to your age, goals, and risk tolerance, and they will handle the rest.
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Blooom is a robo adviser that specializes in 401(k) accounts. You can get a free analysis of your 401(k) to view Bloooms recommendations. In the event you choose to use their support it can cost you $10 a month, fixed amount rather than a percentage of your investments.
Betterment is one of the hottest robo advisers. Betterment can lead you through personalized planning based on your personal situation, and then it will create a diversified portfolio and automatically rebalance it. The cost is 0.25% off your balance, annually.
In terms of 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 will invest your spare change . When you make a purchase it'll round up to the next dollar and invest the difference. You can even set up automatic recurring investments in case youd prefer to develop your account quicker. .
If youre looking for a passive side hustle, just about allowing your car to be used as an advertisement
There are a few different companies out there which meet up advertisers with car owners who want to generate some additional money. It might be a rear window advertisement, panel, or full wrap. The ad will be removable, will not harm your car, and theyll actually install it for you.
Some of the largest companies in this industry are:.
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One way to make some money without a lot of effort is to rent your stuff out to other people. There are a whole lot of possibilities here, and it really depends on what you've got, and what you dont mind other people using. Fortunately, there are also a number of websites that allow you to list your items for rent, and make it easy for renters to find you. .
Fat Lama In Fat Lama you can rent just about anything from electronics, to sporting goods, to infant things.
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BabyQuip In BabyQuip you can rent all kinds special info of baby items from cribs to toys to security gates. This can be an perfect side business, especially if youre situated in a area that attracts a lot of tourists and vacationers that might not have the ability to bring everything from house.
Getaround and Turo These two sites enable you to list your car 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 permits you to set an RV for rent, which can be a potentially lucrative side hustle.
Boatsetter and GetMyBoat If you've got a boat which you dont use very often, list it for rent on one of these sites.
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If you have a spare bedroom in your house you could make some money without too much effort by allowing someone to rent the space. It could 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 would be to use sites like:.