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In addition, I have other credit cards that earn higher percentages of cash back for certain functions. The Chase Freedom card and the Discover It card may earn 5% cash back on purchases in specific categories that rotate each month. I really like being able to stand up 5% cash back for things I need to purchase anyway, like groceries and gasoline. .
Personally, I prefer money back credit cards travel rewards since I find 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, see 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 give you a bonus simply for opening a checking or savings account. Again, this isnt something that youre going to do all the time, but it is an easy 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 could be a good match for you. There are a growing number of companies offering those services. 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 advisor that specializes in 401(k) accounts. You can get 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 hottest robo advisers. Betterment will direct you through personalized planning based on your personal situation, and then it will create a additional resources 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 job for you.
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One way to invest and earn money passively is to automate the process. Acorns is an app which can invest your spare change automatically. 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 like to develop your account faster. .
If youre looking for a passive side hustle, how about allowing your car to be used as an advertisement
There are a few different companies out there which match up advertisers with car owners who want to make a little extra money. It might be a rear window advertisement, panel, or full wrap. The advertisement will be removable, will not damage your car, and theyll actually install it for you.
Some of the biggest companies in this industry are:.
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One way to make some money without much effort would be to rent out your stuff to other people. There are a lot of possibilities here, and it really depends on what you have, and what you dont mind others using. Fortunately, there are also a number of sites that allow you to record your items for rent, and make it effortless for renters to find you. .
Fat Lama In Fat Lama you can rent nearly anything from electronics, to sporting goods, to infant 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 ideal side business, especially if youre situated in a area which attracts a great deal of tourists and vacationers who might 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 from you rather than going to one of the major chains, and you can produce explanation 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 have a ship which you dont use very often, set it for rent on one of these websites.
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When you've got a spare bedroom in your home you may make some money without too much effort by allowing someone to rent the room. It could be a local school student, a single person looking for a cheap place to call this home, or you could rent it out nightly. A popular side hustle is to use sites such as:.