#personalfinanceindia

The

best

SIP

amount

to

invest

👆🏽

Stop

the

guesswork.

Here

are

3

ways

to

decide

exactly

how

much

to

invest

every

month.

1.

Percentage

of

income

approach:

A

common

recommendation

is

around

20%

of

your

monthly

income.

This

strategy

ensures

that

you're

investing

in

proportion

to

your

earnings,

so

as

your

salary

increases,

so

do

your

savings.

For

a

monthly

income

of

₹30,000,

invest

₹6,000.

For

a

salary

of

50k,

invest

10k.

2.

Goal

oriented

approach:

invest

the

amount

required

to

reach

your

investment

goal.

Suppose

you

want

50L

for

your

child's

education

in

15

years.

Assuming

a

12%

growth

rate,

you'd

need

to

invest

around

₹10,500

per

month.

3.

Budgeting:

In

my

experience

helping

hundreds

of

people

with

their

investments,

I've

found

this

to

be

the

method

that

people

are

generally

most

comfortable

with.

Create

a

budget

of

your

monthly

necessary

expenses,

and

invest

60%

to

70%

of

the

surplus.

For

example

if

you

earn

50k

and

your

necessary

expenses

are

20k,

then

invest

around

21k.

This

will

force

you

to

prioritise

investing

over

non-essential

expenses...like

Zomato.

Save

his

post

for

later

and

share

it

with

those

who

need

it.

#investing

#investingindia

#mutualfunds

#mutualfundsindia

#SIP

#personalfinance

#personalfinanceindia

Your

daughter

could

get

₹69L,

tax

free!

There

is

a

government

investment

scheme

that

currently

gives

8.2%

guaranteed,

plus

a

tax

deduction,

and

is

totally

tax

free

on

maturity.

It's

the

Sukanya

Samriddhi

Yojana

(SSY).

If

you

have

a

girl

child,

you

can't

miss

this

👇🏽

1.

The

current

INTEREST

RATE

is

8.2%

per

year.

In

comparison

HDFC

is

currently

offering

just

6.6%

for

a

1

year

FD.

2.

The

amount

you

invest

in

SSY

qualifies

for

a

TAX

DEDUCTION

under

section

80C.

If

you

maximise

this

at

1.5L

per

year,

that

could

save

you

up

to

₹46.8k

per

year

of

income

tax.

3.

The

interest

you

earn

is

totally

TAX

FREE.

In

an

FD,

the

interest

earned

is

taxed

at

your

income

tax

slab

rate.

4.

The

amount

you

invest

is

FLEXIBLE.

You

can

start

with

just

₹250,

or

you

can

maximize

it

with

₹1.5L.

5.

You

can

open

the

account

anytime

before

the

child

turns

10,

and

can

save

money

in

it

for

a

maximum

of

15

years.

As

a

father

of

two

girls,

I

love

this.

And

what's

not

to

love,

I

think

the

more

financial

power

that

girls

get,

the

better

it

is

for

all

of

us

🙂

EXAMPLE

Girl's

age:

1

year

Yearly

investment:

₹1.5L

Current

interest

rate:

8.2%

Start

year:

2024

Maturity

year:

2045

Maturity

value:

₹69.27L

(read

caveat

below)

Totally

tax

free!!!

#investing

#investingindia

#personalfinance

#personalfinanceindia

Sovereign

Gold

Bonds

(SGBs)

-

Everything

you

need

to

know

👇🏽

1.

SGBs

are

an

easy

way

to

buy

gold

in

digital

form,

issued

by

the

Reserve

Bank

of

India.

Unlike

physical

gold,

there's

no

need

to

store

it

in

a

locker.

2.

Unlike

physical

gold,

SGBs

pay

an

interest

rate

of

2.5%

per

year.

This

is

calculated

on

the

initial

investment,

and

is

deposited

into

your

bank

account

every

six

months.

For

example,

on

a

₹1,00,000

investment,

you

would

earn

₹2,500

per

year

as

interest,

paid

in

two

installments

of

₹1,250

every

six

months.

3.

Apart

from

the

guaranteed

interest,

your

final

return

depends

on

the

prevailing

gold

prices

at

the

time

of

maturity.

If

gold

prices

increase,

you

benefit

from

capital

gains.

4.

SGBs

have

a

maturity

period

of

8

years,

with

an

option

to

exit

the

investment

from

the

5th

year.

5.

If

you

hold

the

bonds

to

maturity,

the

capital

gains

at

the

time

of

redemption

are

exempt

from

tax.

This

makes

SGBs

very

attractive.

Physical

gold

attracts

capital

gains

tax

of

up

to

20%.

However,

note

that

the

interest

income

you

receive

from

SGBs

is

taxable

at

your

income

tax

slab.

HISTORICAL

EXAMPLE

Bought:

Nov

2015

Buy

price:

₹2684

(per

gram)

Maturity:

Nov

2023

Price

at

maturity:

₹6132

Capital

gain:

₹3448

Interest

income:

₹590.48

Int.

after

tax

(30%):

₹413.34

Total

Profit

after

tax:

₹3861.34

Total

Profit

%:

144%

CAGR:

11.79%

#investing

#investingindia

#gold

#goldindia

#sgn

#goldbonds

#india

#personalfinance

#personalfinanceindia

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

What

CIBIL

score

is

needed

for

a

home

loan?

A

credit

score

of

650

and

above

would

generally

mean

that

a

lender

would

consider

you

for

a

loan.

Of

course,

they'd

also

look

at

other

factors

such

as

your

income

and

your

existing

monthly

loan

payments.

To

be

considered

favourable

by

lenders,

you

should

aim

for

a

score

of

750

and

above.

Keep

in

mind

that

with

a

very

good

credit

score,

the

loan

approval

process

could

be

quicker,

and

the

interest

rate

you

get

may

be

better.

You

can

check

your

credit

score

by

visiting

the

CIBIL

website

and

signing

up

for

one

of

their

memberships

#finance

#financetips

#credit

#creditscore

#cibilscore

#personalfinancetips

#personalfinance

#homeloan

#mortgage

#india

#personalfinanceindia

#money

#hipikaromorekaro

#hipifinance

#hipimoney

#moneymatters

#MyMoneyMyRules

#UjjivanSFB

#UjjivanSFB

Credit

Card,

Debt

Card

or

UPI:

Which

is

best?

#money

#moneyindia

#creditcard

#creditcardindia

#personalfinance

#personalfinanceindia

#UPI

Best

80C

investments

👆🏽

#investing

#investingindia

#personalfinance

#personalfinanceindia

What

happens

if

you

miss

your

SIP

#investing

#investingindia

#mutualfunds

#mutualfundsindia

#SIP

#personalfinance

#personalfinanceindia

The

best

mutual

funds

for

emergencies

👇🏽

Emergency

funds

are

crucial!!

⚠️You

should

have

at

least

6

months

of

expenses

parked

away

for

a

rainy

day.

For

example,

if

your

monthly

expenses

are

30k,

then

your

EF

should

be

at

least

1.8L.

This

money

should

NOT

be

in

stocks

or

equity

mutual

funds.

➡️

You

can

consider

Ultra

Short

Duration

Funds.

These

are

very

safe

debt

mutual

funds

that

invest

in

high-quality

bonds

maturing

in

just

3

to

6

months.

Here

are

3

excellent

Ultra

Short

Duration

Mutual

Funds

in

my

opinion,

based

on

7

selection

parameters

-

Nippon

India

Ultra

Short

Duration

Fund

-

ICICI

Prudential

Ultra

Short

Term

Fund

-

UTI

Ultra

Short

Duration

Fund

Based

on

data

currently

available

on

valueresearchonline.com

and

advisorkhoj.com.

The

funds

are

in

no

particular

order.

Selection

parameters

used:

-

Performance

-

Star

rating

-

Fund

age

-

Expense

ratio

-

AMC

reputation

&

fund

manager

tenure

-

Assets

under

management

(AUM)

-

Credit

Quality

#investing

#investingindia

#mutualfunds

#mutualfundsindia

#personalfinance

#personalfinanceindia

#emergencyfunds

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

#Hipi

Sovereign

Gold

Bonds

(SGBs)

-

Should

you

invest

in

them?

COMPARISON

of

SGBs,

Gold

MFs,

Physical

Gold

👇🏽

SGBs:

Ease:

Simple,

paperless,

and

online.

Safety:

Government-backed,

safe

custody

Liquidity:

So-so,

can

be

traded

on

the

stock

exchange,

or

redeemed

after

5

years.

Returns:

Gain/loss

based

on

gold

price

+

2.5%

annual

interest

rate

Lock-in

period:

Can

be

redeemed

after

5

years,

maturity

is

8

years.

Taxation:

Interest

is

taxed

at

your

income

tax

slab.

If

held

to

maturity,

final

payout

is

tax-free.

Market

risk:

Linked

to

gold

price.

Gold

MFs

Ease:

Simple,

paperless,

and

online.

Safety:

Professionally

managed,

safe

custody

Liquidity:

Easily

redeemable

when

needed

Returns:

No

interest,

gain/loss

depends

on

price

of

gold

Lock-in

period:

None

Taxation:

STCG

added

to

income,

LTCG

20.8%

(indexation

benefit)

Market

risk:

Linked

to

the

price

of

gold

Physical

Gold

Ease:

Requires

physical

purchase

and

(ideally)

locker

Safety:

Risk

of

theft

or

loss

Liquidity:

Relatively

low,

requires

effort

to

sell

Returns:

No

interest,

gain/loss

depends

on

market

price

of

gold.

Lock-in

period:

None

Taxation:

STCG

added

to

income,

LTCG

20.8%

(indexation

benefit)

Market

risk:

Linked

to

the

price

of

gold

Which

should

you

invest

in?

Physical

Gold:

Consider

this

only

if

you

think

you

may

want

to

make

jewelry

out

of

the

gold

you

buy

Gold

MFs:

Consider

this

if

you're

buying

purely

as

an

investment

AND

you

think

you

may

need

to

redeem

your

money

at

short

notice

SGBs:

Consider

this

if

you're

buying

purely

as

an

investment

AND

you

don't

need

the

money

for

8

years.

From

a

returns

perspective,

SGBs

are

the

best

option,

but

don't

ignore

the

other

points!

#investing

#investingindia

#mutualfunds

#mutualfundsindia

#gold

#SGB

#personalfinance

#personalfinanceindia

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

Make

life

changing

investment

decisions

in

2024

💪🏼

What

should

NOT

do

👇🏽

#1:

Don't

wait

until

the

right

time.

If

you

don't

start

investing,

you

will

kick

yourself

in

10

years.

#2:

Don't

engage

in

short-term

trading.

If

you

buy

and

sell

too

often,

you

could

end

up

with

losses,

higher

taxes,

wasted

time,

and

unnecessary

headaches.

#3:

Don't

invest

based

on

what's

in

the

news.

There's

too

much

noise.

It

will

confuse

you

leading

to

bad

investment

decisions.

What

you

SHOULD

do👇🏽

#1:

Be

sure

of

your

investment

goal,

time

horizon,

and

risk

profile.

This

is

the

foundation

of

your

investment

plan.

#2:

Be

clear

about

your

asset

allocation.

Does

an

all-equity

portfolio

work

for

you?

Or

maybe

80%

equity,

20%

debt,

and

10%

gold?

Fizxing

your

asset

allocation

is

more

important

than

choosing

a

mutual

fund.

#3:

Be

smart

about

taxes

and

take

all

the

tax

breaks

that

you

can

get.

A

few

thousand

saved

in

taxes

today,

if

invested

right,

could

add

several

lakhs

to

your

retirement

fund!

If

you

have

a

question,

let

me

know

in

the

comments.

Share

this

post

with

someone

who

needs

it,

and

save

it

for

later.

#investing

#investingindia

#mutualfunds

#mutualfundsindia

#SIP

#personalfinance

#personalfinanceindia

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

#Hipi

trending#shorts

#edit

#peakyblinders#thomasshelby

#HipiKaroMoreKaro#Goddess

Writes

#LifeAdvice#Knowledge#Motivation#investing#investingindia#mutualfunds#personalfinance#personalfinanceindia

trending#shorts

#edit

#peakyblinders#thomasshelby

#HipiKaroMoreKaro#Goddess

Writes

#LifeAdvice#Knowledge#Motivation#investing#investingindia#mutualfunds#personalfinance#personalfinanceindia