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I also have other credit cards that earn higher percentages of money back for certain purposes. Both the Chase Freedom card and the Discover It card will earn 5 percent 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 buy anyway, like groceries and gasoline. .
Personally, I prefer money back credit cards to travel rewards since I find that the points system on a great deal of travel rewards cards to be confusing. But many men and women love being able to earn points on travel rewards cards. If thats the case for you, visit this page to see an updated listing 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 account or savings account. Again, this isnt something that youre going to do all of the time, but it is an easy way to make a small amount of additional 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 fit for you. There are a growing number of companies offering these 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 advisor that specializes in 401(k) accounts. You can find a free analysis of your 401(k) to view Bloooms recommendations. If you choose to use their service it can cost you $10 per month, adjusted amount rather than a percentage of your investments.
Betterment is one of the most popular robo advisors. Betterment can lead you through personalized planning based on your personal situation, and then it will make a diversified portfolio and automatically 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 will invest your spare change . When you make a purchase it will round up to the next dollar and invest the difference. You can also set up automatic recurring investments in case youd prefer 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 that match up advertisers with car owners who want to make a little additional money. It might be a back window advertisement, panel, or full wrap. The advertisement will be removable, will not harm your vehicle, and theyll really install it to you.
Some of the largest companies in this industry are:.
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One approach to make some money without much effort would be 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 others using. Fortunately, there are also several websites that allow you to list your items for rent, and make it easy for renters to find you. .
Fat Lama At Fat Lama you can rent just about anything from electronics, to sporting goods, to infant things.
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BabyQuip At BabyQuip you can rent all kinds of baby items out of cribs to toys to security gates. This can be an ideal side business, particularly if youre located in a region which attracts a lot of tourists and vacationers who might not be able to bring everything from home.
Getaround and Turo These two sites enable you to list your car for rent. People can rent from you rather than going to one of the significant chains, and you can produce a couple thousand dollars per year doing this.
RVshare RVshare allows you to list an RV for rent, which can be a potentially rewarding side hustle.
Boatsetter and GetMyBoat In case you've got a boat that 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 may make some money without too much effort by allowing someone to rent the space. It might be a local college student, a single person looking for a cheap place to live, or you might rent it out nightly. A favorite side hustle is to use websites such as:.