Loans & EMI Guide #100: 10 Rules of Taking a Loan in India That Nobody Teaches You

 

Before You Take Your Next Loan — Read These 10 Golden Rules

Loans can help or harm. Follow these rules to make sure you’re in control — not the bank.

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🧠 Rulebook to Follow

1. Never borrow for wants (phones, parties, gadgets)
2. Keep total EMIs below 30% of your income
3. Prefer short-term loans to save on interest
4. Avoid multiple loans at the same time
5. Don’t take loan just because it’s pre-approved
6. Always compare interest rates from 3–4 lenders
7. Check hidden charges, not just EMI
8. Choose fixed EMI dates matching salary day
9. Read full sanction letter & terms
10. Pay 1 EMI in advance if possible — boosts trust

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🛡️ Bonus Tip

Avoid loan app traps. Go only with RBI-registered NBFCs or trusted banks.

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✅ Conclusion

A loan can build your life or break your peace. Use it as a tool — not a trap.

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Passive Income Guide #99: How to Build a 1-Person Online Course Business Around Finance

 

Want to Teach What You Know & Earn Monthly? Build a Simple Course Around Financial Education

You don’t need a team, studio, or website. You need your phone, expertise, and this step-by-step plan.

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🎯 Pick a Niche

Examples:

• “Stock Market for Beginners”
• “Basics of Budgeting for Indians”
• “Tax Saving Hacks for Salaried Class”

Keep it specific.

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📽️ Record Simple Videos

Use your phone. Record vertical or horizontal. Keep it short and sharp (5–10 mins per module).

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🛠 Free Tools to Use

• Google Drive (storage)
• Canva (thumbnails/slides)
• Telegram or WhatsApp for delivery
• Razorpay or Instamojo for payments

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💡 Pricing Tips

• ₹99–₹499 for mini course
• ₹999–₹1999 for advanced content
• Offer bonuses: PDFs, tools, templates

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✅ Conclusion

Teach once, sell forever. A course is a digital asset that pays you every month — without extra effort.

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Credit Score Guide #98: How to Rebuild Your CIBIL Score After Loan or Credit Card Default

 

Missed a Loan or Card Payment? Here's Your Step-by-Step Recovery Plan

Defaults don’t have to define you. You can rebuild your score with patience, consistency, and smart steps.

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📉 Step 1: Settle or Repay Your Dues

Negotiate a full or partial settlement with your lender. If possible, pay the full amount and get a NOC (No Objection Certificate).

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🧾 Step 2: Request CIBIL Update

Lenders report to CIBIL. After you clear dues, ask for written confirmation of score update or correction.

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🛠️ Step 3: Start Small

• Get a secured credit card backed by FD
• Take a small consumer durable loan (repay on time)
• Use only 30% of credit limit

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📅 Step 4: Wait + Track

Improvement takes 3–12 months depending on severity. Monitor via OneScore or CIBIL official site.

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✅ Conclusion

Default isn’t the end. Rebuilding CIBIL is slow but 100% possible — if you act responsibly and consistently.

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Investing Guide #97: What is an ELSS Mutual Fund? Save Tax & Grow Wealth Simultaneously

 

Want to Save Tax and Build Wealth? ELSS Might Be Your Best Bet

Equity Linked Savings Schemes (ELSS) are mutual funds that offer Section 80C tax benefits and solid long-term returns.

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📘 How ELSS Works

• You invest in a mutual fund
• Get up to ₹1.5 lakh deduction under 80C
• Lock-in: Only 3 years (lowest among tax-saving options)
• Invest lump sum or via SIP

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📈 ELSS vs Other 80C Options

Option	Returns	Lock-in	Risk
ELSS	10–15% avg	3 years	Moderate
PPF	7.1% (fixed)	15 years	Low
FD (Tax Sav)	5–6%	5 years	Low

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🛡️ Best ELSS Funds (As of 2025)

• Axis Long Term Equity Fund
• Quant ELSS Tax Saver
• Mirae Asset Tax Saver Fund

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✅ Conclusion

ELSS = tax saving + wealth building. Ideal for long-term investors looking for tax-efficient growth via mutual funds.

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Budgeting Guide #96: How to Create a Budget With Irregular Income (Freelancers & Business Owners)

 

No Fixed Salary? Here's How to Build a Stable Budget Anyway

Irregular income doesn't mean unpredictable life. Whether you're a freelancer, trader, or small business owner — you can still build a working budget.

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🧠 Step 1: Know Your Average

Look at the last 6–12 months’ income. Calculate your monthly average (use the lowest 3 months as a safety base).

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💡 Step 2: Prioritize Essentials

Cover your:

• Rent
• Groceries
• Electricity
• Internet

Set this as your “base survival” amount.

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💰 Step 3: Create a Buffer Fund

Save 10–30% from your high-earning months in a buffer fund. This helps during low-income months.

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🔄 Step 4: Use the Envelope Method

Use digital or physical envelopes:

• Essentials
• Lifestyle
• Tax savings
• Business growth
  This gives control even when earnings fluctuate.

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✅ Conclusion

A variable income requires variable thinking with fixed discipline. Budget smart, save buffers, and stay ahead.

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Loans & EMI Guide #95: What is Debt Consolidation & Should You Consider It in India?

 

Struggling With Too Many EMIs? Here’s How to Simplify It Into One Payment

If you're paying 3–4 loans or credit cards monthly, debt consolidation helps combine them into one manageable EMI.

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🧠 What is Debt Consolidation?

It means taking one large loan to pay off all smaller ones. This gives:

• One EMI
• Lower interest (sometimes)
• Better credit score (if paid on time)

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🧾 When to Consider It

• Multiple loans/EMIs active
• Total interest is very high
• Credit card debt is rising
• EMI dates are scattered and stressful

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💡 Benefits

• Easier to manage
• Reduce stress
• Improve CIBIL with proper repayment
• Can negotiate lower interest

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⚠️ Risks

• Must avoid taking new debt again
• Banks may ask for collateral for large consolidation loans
• Fees/processing charges may apply

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✅ Conclusion

Debt consolidation is not escape — it's smart restructuring. Use it with discipline to exit the loan trap permanently.

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Passive Income Guide #94: Top 5 High-Income Digital Products You Can Sell Online in India (No Skills Needed)

 

Want to Sell Something Online Without Inventory or Tech Skills? Try These Digital Products

Digital products = unlimited stock + instant delivery + pure profit. Even beginners can sell them online using free tools.

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💡 Top Digital Products to Create

1. E-books or Guides
• “Stock Market Basics”, “Budget Tips for Students”
• Use ChatGPT + Canva
2. Templates
• Resume, budget planners, business pitch decks
• Sell via Gumroad or Google Drive
3. Digital Journals
• Daily goal planners, gratitude journals
• Use Notion, Canva
4. Printables
• Wall art, financial tracker sheets
• Sell on Etsy or Instagram
5. Mini Courses
• Record on phone, upload as zip/PDF
• No need for studio or editing

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🛠 Free Tools You Can Use

• Canva
• Notion
• ChatGPT
• Google Sheets
• CapCut (for videos)

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✅ Conclusion

You don’t need skills — just value and packaging. Sell once, earn forever. Digital products = modern passive goldmine.

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