The Ultimate Guide To Passive Income In South Korea

But , there are a couple ways that you can start earning right away almost 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 by not taking advantage of cash rewards.Cash Back Credit CardsCash back credit cards provide a percentage generally 1-5percent on purchases you already make.

For example, a card can offer 2% cash back on gas and groceries and 1% on all other purchases.Many money back credit cards also offer sign-up bonuses. For these apps, youll usually need to spend a predetermined amount within the first 60 to 90 days of opening your 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 each month.

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Set 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 typical workday.You have two options: 1) Let your automobile sit around and depreciate, or 2) Use it to create some passive income.Rent Your Car Using GetaroundWith Getaround, as an 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 car with Getaround, you can make some (if not all) of that money back.As a Getaround automobile owner, you become dedicated parking in the best places in town, a $50 monthly driving credit to rent anything you like, and $1 million in primary insurance coverage.To take advantage of this passive income opportunity, youll need to create a completely free Getaround account.

According to their site, drivers can earn $400+ each month.In order to begin, youll need to download the program and track your driving. Once you meet the minimum qualifications, youll be notified when a campaign is available in your area.Take your car in to be wrapped, then start earning passive income with the driving you already do.3. check it out

How Passive Income Ideas In South Korea can Save You Time, Stress, and Money.

In fact, go consider yourself lucky if you earn anything at all! Luckily, online banks have burst onto the scene with some really enticing interest prices. Greater interest money you make off your savings.Here are 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 free money. And since there are no monthly fees, I consider CIT Bank a double win.Or, an alternative option:Discover  Like CIT Bank, Discover offers competitive prices on their savings accounts. The majority of the online savings accounts nowadays are neck and neck in terms of interest rates and charges, so you cant really go that wrong using any one of them.

In fact, the great majority of millionaires over the past two centuries have attained their status, at least in part, from investing in real estate.Related: 7 Finest Short-Term Investments for see here now Growing Your MoneyHere are a few different ways that you can capitalize on investment opportunities in real estate:5. Invest in crowdfunded actual estateFundrise  If you have an extra $500 laying around, you can now invest in real estate via a Starter Portfolio from Fundrise.

The Ultimate Guide To Passive Income In South Korea

In Fundrises most recent performance report, their portfolio generated returns of 12.25percent .With Fundrise, you also get to pick an investment plan based on your financial objectives. They have plans that produce residual income, diversification or long-term expansion. Heres our full Fundrise Review.Another crowdfunding property platform to consider:RealtyShares That is similar to Fundrise, but the minimum investment is $5,000 so youve got to bring an extra zero to begin.

Instead of relying on the performance of the entire portfolio, you can certainly do much better (or worse).Whether you opt to invest in only one of these modern REITs or keep in mind that since theyre private funds and not shares, you wont have the ability to easily liquidate your investment and access your cash right away.

However, youll most likely still get monthly or quarterly payments, depending on which investment opportunity you choose.6. Buy your initial investment propertyRoofstock  Investing in rental properties is one of those passive income ideas that can be particularly intimidating, especially when it comes to finding tenants. Roofstock enables you to buy properties with as few as 20% down which already have tenants living in them.