#personalfinancetips

Your

parents

are

not

always

right!

🫠

#ScoreDekhaKya

#OneScore

#cibil

#creditscore

#personalfinance

#personalfinancetips

Your

parents

are

not

always

right!

🫠

Controversial

-

I

know

but

stick

with

me.👇🏼

My

dad

is

a

CA

and

everything

from

investing

to

insurance

I

have

learnt

from

him.

But

even

he

had

preconceived

notions

about

credit

cards

all

his

life.

🌱

I

categorically

remember

him

saying

that

if

you

have

a

balance

in

your

account,

just

use

a

debit

card!🫡

And

that

is

exactly

what

I

did

-

all

throughout

my

job.

All

office

outings

I

paid

for

using

my

debit

card.

I

regret

that

now

because

imagine

the

points

I

would

have

racked

up

by

just

using

a

credit

card

instead.

🌟

I

had

to

unlearn

that

personally

and

educate

myself

on

how

credit

cards

can

actually

be

beneficial

for

not

just

getting

free

flights

but

also

building

a

solid

credit

score.

I

have

3

credit

cards

personally

and

I

genuinely

can’t

do

without

them

now!💯

Check

your

own

credit

score

using

@getonescore

and

don’t

worry,

this

doesn’t

count

as

a

hard

inquiry

so

your

credit

score

will

not

get

affected!

.

.

#ScoreDekhaKya

#OneScore

#cibil

#creditscore

#personalfinance

#personalfinancetips

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

#Hipi

Watch

till

the

end

for

my

fav

dad

joke!

🤌🏼

Anyway,

are

you

a

salaried

employee

staying

with

your

parents

in

a

house

that

they

own?

🙌🏼

And

you

don’t

co-own?

🙌🏼

I

have

news

for

you!

📰

You

can

pay

them

rent

and

claim

the

house

rent

allowance

(HRA)

exemption

offered

by

your

employer.🌟

This

works

best

if

your

parents

are

in

a

lower

tax

bracket

than

you!

🙏🏼

While

this

amount

is

taxable

in

their

hands,

they

can

claim

a

deduction

of

30%

on

the

annual

rent

for

repairs

and

maintenance

under

Section

24

of

the

income

tax

act.

🤌🏼

Note

that

if

the

rent

is

above

Rs

1

lakh

a

year,

their

PAN

card

details

will

also

have

to

be

shared.🙌🏼

The

deduction

amount

will

be

lower

of

the:

-

Actual

rent

paid

minus

10%

of

your

basic

salary

-

Total

HRA

that

the

employer

provides

you

-

40-50%

of

basic

salary

depending

on

residential

conditions

So

bottom

line?👇🏼

PAY

RENT

TO

YOUR

PARENTS

AND

SAVE

TAXES!🌱

.

#HRA,

#TaxTips

#taxation

#House

#Rent

#ShreyaaKapoor,

#personalfinancetips

#taxes

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

#Hipi

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

Want

to

save

money

on

your

home

loan

after

RBI

increased

repo

rate

by

2.5%

from

last

year?

😵‍💫

Here

is

how

you

do

it!🫡

-

Claim

1.5

lakhs

as

deduction

in

principal

amount

repayment

under

80

C

-

Claim

2

lakhs

as

deduction

for

interest

amount

paid

under

section

24

(B)

(

can

even

claim

processing

fees)

-

Take

a

joint

home

loan

to

double

the

tax

benefits

(this

can

be

any

immediate

family

member

like

parents,

siblings,

children

or

spouse)

considering

both

are

earning

members

and

have

insurance.

You

can

save

2

lakhs

if

you

are

in

the

30%

tax

bracket

by

deducting

these

from

your

taxable

income!

Will

share

tips

on

how

to

repay

home

loan

faster

in

upcoming

videos

so

do

follow

along!

🙌🏼

.

.

#homeloan

#loanservices

#personalfinancetips

#personalfinance

#financetips

#Money

#MoneyMatters

#HipiMoney

#HipiFinance

#HipiFunds

#FinancialTips

#HipiFinance

#FinanceonHipi

#personalfinance

#personalfinancetips

#moneytips

#makemoneyonline

#earnmoneyonline

#moneymaker

#moneymindset

#financetips

#betop1percentt

#

Best

Book

To

Start

Learning

About

Money💸

#thepsychologyofmoney

#moneytips

#moneymakers

#personalfinance

#FinanceonHipi

#personalfinancetips

#financialeducation

#readingbooks

#betop1percentt

SAY

NO

TO

LOAN

TRAP

🪤

#personalfinance

#personalfinancetips

#personalfinance

#Loan

#rbi

#recoveryagentharassment

#personalfinancetips

#personalfinance

#personalfinancetips

#personalfinances

#HomeLoan

BUILDING

WEALTH

IN

20"S

#wealthymindset

#personalfinancetips

#Richthinking

#richlife

#collegelife

#schoollife

ARREST

WARRANT

in

Loan

Default

Case

#Loan

#loanofficer

#personalfinance

#lawyer

#law

#personalfinancetips