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In addition, I have other credit cards that earn higher percentages of cash back for certain purposes. Both the Chase Freedom card and also the Discover It card will earn 5 percent cash back on purchases in particular classes that rotate every month. I really like being able to rack up 5% cash back to things I need to buy anyway, like groceries and gas. .
Personally, I prefer money back credit cards to travel benefits because I find that the points system on a lot 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, see this page to find 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 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 small amount of extra money with no work involved. .
If you want to place your money to work but youre not comfortable picking and managing the investments , a robo adviser could be a great fit for you. You will find a growing number of companies offering these services. Youll enter some information linked 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 get a free analysis of your 401(k) to view Bloooms recommendations. If you decide to use their support it will cost you $10 a month, fixed amount rather than a percentage of your investments.
Betterment is one of the hottest robo advisors. Betterment will 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, a fantastic read 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 earn money passively is to automate the process. Acorns is an program that will invest your spare change automatically. When you make a purchase it'll round up to the next dollar and invest the difference. You can also set up automatic recurring investments in case youd like to grow your account faster. .
If youre looking for a passive side hustle, how about allowing your car to be used as an advertisement
There are some different companies out there that match up advertisers with automobile owners who want to make a little additional money. It might be a back window advertisement, panel, or full wrap. The ad 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 way to earn some money without a lot of 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 other people using. Fortunately, there are also several sites 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 In BabyQuip you can rent all kinds of baby things out of cribs to toys to safety gates. This can be an perfect side business, particularly if youre situated in a region which attracts a great deal of tourists and vacationers who may not be able to bring everything from home.
Getaround and Turo These two sites enable you to record your vehicle for rent. Folks can rent from you rather than going to one of anchor the major chains, and you can make a few thousand dollars per year doing it.
RVshare RVshare permits you to set an RV for rent, which can be a potentially lucrative side hustle.
Boatsetter and GetMyBoat If you have a boat which you dont use very often, set it for rent on one of these websites.
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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 college student, a single person looking for a cheap place to live, or you could rent it out nightly. A favorite side hustle would be to use websites such as:.