Best Credit Score improving tips in 2020

How a Credit Card and Personal Loan can improve your Credit Score

It’s 2018 and everyone here in India is finally showing a lot of interest in the financial markets. Yes, there is a steady rise in investments by domestic investors. Who knew that investing in mutual funds can also give us good returns like fixed and recurring deposits do.

How Informed is today’s investor about credit score?

The average investor today is well informed about the current trends. Gone were the days when we listened to where Mr.Sharma or Mr.Verma were investing and followed them like sheep. Today, a customer knows what his /her financial goals are. They know what a “SIP” stands for and also know the importance of Insurance. “Kitna Deti Hai?” is what a customer today will ask not only to know the mileage of a car but also to understand the returns a mutual fund provides.

Credit score helps you get loans at lowest interest rates

Importance of Credit Score:

There is something else that also needs our immediate attention i.e. CREDIT SCORE. Yes, you must be seeing the term “credit score” almost everywhere online. A credit score helps the Banks and NBFC’s in the market to understand the creditworthiness of a person. The scores range from 300-900. The mantra here is “Higher the better”. In India, any score above 750+ is considered to be a good credit score.

How can you increase your credit score?

Firstly, your credit score takes time to build up and hence a person with at least 6 months of credit history can find out his/her credit rating. You can avail of the services of a credit card or a personal loan.

Using a credit card with a lower utilization ratio and paying off the bills on time completely can increase your credit score with time.

When you take a personal loan and repay the EMI’s on time without defaulting even once, it is considered as disciplined borrowing by the lender.

Improve credit score in 2020 with these tips

It is very important to have a good credit score today as a score above 800 shows that you are a disciplined borrower. The lenders can provide you loans at a lower rate of interest. There is also a possibility that they might waive off certain fees like processing charges and prepayment penalties.

But if your score is lower than 700, it can get tough to get a loan from any Bank/NBFC as you are not credible as per the lender. A low score means that you might default on payments or might not be able to repay off the loan. Hence in these cases, the lender will impose a high rate of interest on your loan.

Hence, be wise and save yourself from this trouble. Use a credit card wisely and pay off your loans on time. This will help you in the present and also in the future.

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GST impact on Bloggers in India

Goods & Service Tax (GST) – Impact on Bloggers

There’s a lot of hullabaloo about the GST that’s got everyone in a fit.

There are a lot of us who will be affected by it. Even a blogger will be affected by this change.

But before I explain this concept to you, let me first walk you through the concept of GST.

Goods and service tax is like one indirect tax for India.

Usually, there are many stages of how a product/item is created and then sold. There are many stages right from the manufacturer to the seller and finally to the consumer i.e. us.

There are a lot of taxes hidden in each stage due to which a product which was created for 5 rupees went through every stage and finally got sold for 20 rupees to the consumer.  That time, all those service recipients had to pay service tax too. Hence after every stage, the cost kept on increasing and in the end, we had to pay more for that product or service.

Earlier, there was no defined system of any service recipient to take credit for “credit for goods purchased and vice versa”.

What happened later is that since they didn’t claim the credit, they added that amount to the cost and the product got costlier for us to buy or the service got costlier to avail.

So to let go of all these taxes, the GST has arrived.

While this is good news, there are lots of other places where we shall be affected.

There will be many products which will be dearer than before. Many services, where the taxes will increase etc.

You can read about these by clicking HERE

Impact of GST on bloggers:

As of 1st July, we bloggers will be subjected to 18% GST on annual income exceeding 20 lacs per annum. This will only be applicable to a few bloggers out of many.

It’s better than those whose blogging revenue is less than 20 lacs per annum should not register for GST as the filing procedure is tedious. There is filing 3 returns every month. On average that would mean 37 filings in a year including an additional annual return. Too much paperwork!

Earlier, blogging services were subject only to service tax. The minimum limit for that was 10 lacs per annum. Now they will be subjected to the GST from 1st July 2017.

Not only are bloggers affected by this sudden change. The PR agencies also have their own sets of problems. Earlier they used to have a small checklist that would filter the bloggers they needed for campaigns and assignments. Now, GST will be another important factor in deciding which bloggers can get the opportunity. Why do I say so?

If the blogger is not registered for GST, then the PR would have to pay according to the reverse charge mechanism. This would just increase their costs. To offload such costs, they will pay lesser to bloggers. Our loss in the long run.

As per the corporate policies of MNC’s and other top companies, they usually register as a “Vendor” only with GST registrations.

Hence there is a fear that newbie bloggers and bloggers with lesser projects on their plate may never be able to get registered with such big brands for work. That would be quite a morale downer.

Another disadvantage of the GST being applied is the fact that blogging in India is still at a developing stage and is not matured enough for such a change. The remuneration is increasing but not at a scale that can benefit all.

Bloggers earning a decent amount will not be able to hire services of professionals/consultants to help them file their returns always. The simple fact is the amount we earn will be used by us to pay for the consultant’s fees. So there is no win for sure but perhaps a loss.

In conclusion, apply for GST only if you fit the bracket of earnings over 20 lacs per annum. Also, brace yourselves for pricing changes in the market for campaigns and assignments. It’s highly possible there will be a change due to the tax component kicking in a couple of days!

Picture credits: News24 and Yourstory

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Finsafe India

Finsafe – Creating Intelligent Investors

How important is money to you?

Everything? Yes, that’s what i feel too.

But when it comes to saving, we get that thought only prior to getting married or when it becomes absolutely necessary.

My question is, why wait that long?

If you think this is just how everyone saves, then I’d like to tell you, times have changed my friend!

I have a friend aged 25 who has a PPF account and has invested for an insurance policy and to top it all, he has plans to invest a reasonable amount in the stock market too. He wants to keep that amount for a long term investment. That all my friends with a salary of 25000 INR per month.

Living in Mumbai it’s not easy to do all this. He could do it step by step. It took months but he got it done. Maybe if he had taken guidance, he could have managed all his wealth in even a better way.

Hence I say, if you got to learn the basic ways of how to manage your wealth and keep everything in balance as per your need, then I say you must learn now.

Don’t wait for the end moment. Start early, reap the benefits later.


With that, I’d like to grab your attention to FINSAFE.

Finsafe has released an e-learning module FinSmart to provide an effective learning solution on personal wealth management. The 2-hour long module named FinSmart is aimed at people who want to make the most of their disposable income.

FinSmart covers the basics of investment and concepts like inflation, compounding, and risk in great detail. Investment tools such as mutual funds, debt instruments, insurance, and pension, as well as factors affecting them. Users also gain from a comprehensive financial planner, a model portfolio and the facility for making online investments.


FinSmart is an initiative of Mrin Agarwal, who won the CNBC Grand Jury Award for work done towards Financial Inclusion & Education in 2015.

Mrin is also the co-founder of Womantra, a training program aiming at enhancing financial awareness among women. Womantra has trained more than 5000 people across 40 corporates across India over the last 2.5 years.

Womantra’s training sessions bring out that most young professionals in India are not prepared to achieve their financial aspirations. They further highlighted the critical need to raise financial awareness and inclusion.

Finsafe is created with the purpose of being a knowledge repository that simplifies financial information and empowers people to create wealth. “In a surging economy like India’s, it is crucial that individuals are informed to take effective action to improve the overall financial well-being and avoid monetary distress.”, says Mrin Agarwal. A Standard & Poor’s Financial Services LLC survey has found that more than 70% of Indians fare badly in financial literacy.

Finsafe’s efforts converge towards building a more financially inclusive future and FinStart is designed to address the investor awareness gap. 

FinStart is among the first of its kind opportunities for Indians. They can learn all about wealth management and investment at the place and pace of their choice.

About Finsafe India Pvt. Ltd.

Finsafe is a finance education & inclusion organization focussing on equipping people with strategies to handle their money with a focus on goals, growth, and safety. Finsafe is a pioneer in bringing e-learning solutions on personal-wealth management to India. Learn more at

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