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Hey there, Budget Brigade!
Today, I want to talk about something that's music to every budget-conscious individual's ears: passive income. Now, before you roll your eyes and dismiss it as another get-rich-quick scheme, hear me out. I'm all about finding passive income streams that require minimal effort upfront but deliver consistent returns over time. So, without further ado, let's dive into my favorite minimal effort passive income sources.
1. High Yield Savings Account
Let's start with the simplest and perhaps most overlooked option: a high-yield savings account. Instead of letting your money sit idly in a traditional savings account earning next to nothing in interest, why not park it in a high-yield savings account? These accounts offer significantly higher interest rates (mine is currently sitting at 5%), allowing your money to work harder for you without any extra effort on your part. Simply deposit your funds and watch your balance grow over time—it's as easy as that.
2. thredUP
If you're like me and have a closet full of clothes you never wear, why not turn those unused items into cash? ThredUP makes it incredibly easy to sell your gently used clothing, shoes, and accessories. Simply request a clean-out kit, fill it with your items, and send it back. ThredUP will handle the rest, including photographing, listing, and shipping your items to buyers. It's a hassle-free way to declutter your closet and pad your wallet at the same time.
3. Upside
Have you ever wished you could earn cash back on something as mundane as filling up your gas tank? Well, with Upside, you can do just that. This innovative app allows you to earn cash back on gas purchases at participating stations simply by “checking in”. It's a quick and effortless way to put a little extra money back in your pocket every time you fuel up. Use the promo code 62U93 to get an additional 15 cents per gallon back during your first Upside fill up.
4. Cash Back Credit Card
Speaking of cash back, let's not overlook the power of cash back credit cards. By using a credit card that offers cash back on your purchases, you can earn money back on everything from groceries to gas to dining out. Plus, many cash back credit cards offer generous sign-up bonuses and rewards programs, making them a lucrative option for passive income seekers.
5. Rakuten
Last but not least, let's talk about Rakuten. Rakuten is a cash back website that rewards you for shopping online at thousands of retailers. But here's the kicker: by installing the Rakuten plugin on your browser, you can automatically earn cash back without having to lift a finger. Simply shop as you normally would, and Rakuten will track your purchases and deposit cash back into your account. It's like getting paid to shop—what's not to love?
Passive income doesn't have to be complicated or time-consuming. By leveraging these minimal effort strategies, you can start earning extra money with little to no extra effort on your part. So why wait? Start maximizing your earnings today and watch your passive income grow effortlessly.
Do you have any favorite minimal effort passive income sources? I'd love to hear about them—share your tips and tricks in the comments below!
<3
Megan
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Disclaimer: I am not a financial advisor. The information provided is for educational purposes only. Please consult with a certified financial professional before making any financial decisions.
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