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“How to Increase CIBIL Score Fast "

  “How to Increase CIBIL Score Fast " Factor Weightage Payment history 35% Credit utilization 30% Credit history length 15% Credit mix (secured + unsecured) 10% Credit inquiries 10% To increase score fast, we focus on the highest-impact factors. 1. Pay All EMIs & Credit Card Dues Before Due Date Late payments are the No.1 reason scores drop.  Best trick to increase score fast: Set auto-pay for EMIs & credit cards Pay credit card bill 5 days before due date Even paying minimum due on time protects score from damage  Never delay payments — even 1 delay stays in report for 2 years. Improvement Timeline: 30–60 days 2. Reduce Credit Card Utilization Below 30% High usage = score drop even if you pay on time. Example: If your credit limit = ₹1,00,000 Never use more than ₹30,000 per month ✔ Maintain < 10% if possible (fastest score boost) Improvement Timeline: 45–60 days 3. Clear Small Outstanding Du...
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3. How to Build an Emergency Fund from Scratch

 Building an emergency fund from scratch is one of the smartest financial moves you can make — it acts like a financial safety net during unexpected events (like medical emergencies, job loss, or car repairs). Here’s a simple, step-by-step guide to help you get started:




✅ Step-by-Step: Building an Emergency Fund from Scratch

 

1. Set a Clear Goal

  • Start small: Aim for ₹10,000–₹25,000 as an initial mini-fund.
  • Long-term goal: Build 3–6 months’ worth of living expenses (e.g., rent, groceries, bills, EMIs).

 

2. Know Your Monthly Expenses

  • Track essential expenses like:
    • Rent/EMI
    • Utilities
    • Groceries
    • Transportation
    • Insurance
  • This helps you set the right emergency fund amount.

 

3. Open a Separate Savings Account

  • Keep your emergency fund separate from your main bank account.
  • Look for a high-interest savings account or liquid mutual fund (for better returns but quick access).

 

4. Automate Savings

  • Set up auto-debit or SIP (Systematic Investment Plan) to save a fixed amount monthly.
  • Start small: Even ₹500–₹2,000/month adds up over time.

 

5. Cut Unnecessary Expenses

  • Temporarily reduce spending on:
    • Eating out
    • Subscriptions you don’t use
    • Impulse shopping
  • Redirect those savings to your fund.

 

6. Use Windfalls & Bonuses

  • Deposit any unexpected money (tax refunds, bonuses, cash gifts) directly into your emergency fund.

 

7. Track & Adjust

  • Review progress monthly.
  • Increase savings as income grows.
  • Don’t use this fund unless it’s a real emergency.


🚫 Avoid These Common Mistakes:

  • Mixing it with your daily-use account.
  • Investing it in high-risk assets (like stocks or crypto).
  • Using it for planned expenses (vacations, shopping, etc.).


🔁 Example:

 

If your monthly expenses are ₹30,000, aim for ₹90,000–₹1.8 lakhs as a full emergency fund.

Start by saving ₹2,000/month — in 12 months, you’ll have ₹24,000+ (plus interest).

 

Source of image: Google 

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