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In addition, I 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 categories that rotate each month. I really like being able to stand up 5 percent cash back for things I need to buy anyway, such as groceries and gasoline. .
Personally, I prefer cash back credit cards to travel benefits because I find that the points system on a great deal 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 listing 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 simply for opening a checking account or savings account. Again, this isnt something that youre going to do all the time, but it's an effortless method to make a small amount of additional money with no work involved. .
If you want to place your money to operate but youre not comfortable picking and managing the investments yourself, a robo advisor might be a great fit for you. You will find 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 find a free analysis of your 401(k) to view Bloooms recommendations. In the event you decide 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 most popular robo advisors. Betterment can lead you through personalized planning based on your personal situation, and then it will make a diversified useful reference portfolio and 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 do 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 can 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 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 automobile owners that want to make a little additional 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 a lot of effort would be to rent out your stuff to other men and women. There are a 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 effortless for renters to find you. .
Fat Lama At Fat Lama you can rent just about anything from electronics, to sporting goods, to baby items.
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BabyQuip At BabyQuip you can rent all kinds of baby things from cribs to toys to security gates. This can be an ideal side business, particularly if youre located in a area which attracts a lot of tourists and vacationers that might not have the ability to bring everything from home.
Getaround and Turo These two sites enable you to list your vehicle for rent. People can rent out of you rather than going to one of the significant chains, and you can make a couple thousand dollars per year doing it.
RVshare RVshare allows you to set an RV for rent, which can be a potentially rewarding side hustle.
Boatsetter and GetMyBoat In case you have a boat which you dont use very often, list it for rent on one of those websites.
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If you've got a spare bedroom in your home you could 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 call home, or you could rent it out nightly. A favorite side hustle would be to use websites such as:.