Way2Capital

Are you feeling at ? 🤔 You may be in the wrong place. 💼

Here are a few signs: 👇

🔹 You're not given the same opportunities for growth. 📈
🔹 Your ideas are ignored. 🔐
🔹 You're not given credit for your work. 🏆
🔹 You're constantly micromanaged. 🕵️‍♂️
🔹 You're not treated with respect. 💯

If you see yourself in any of these signs, it's time to have a conversation with your manager. 🗣️

If that doesn't help, it may be time to start looking for a new job. 🚀

“Holi is a perfect time to celebrate the colors of our beautiful relationship.“ .......“Wishing you good health and prosperity.“

**What Documents should I get after closing a Home Loan in India?**

The documents you should get after closing your home loan are:

**1. Original Property Documents:**
You must get all the original documents you submitted to the lender at the time of availing of the loan. Ensure that the documents are in good condition, with all the pages intact. The documents may include

a- Sale Deed
b- Title Deed
c- Loan Agreement
d- Power of Attorney

**2. No Dues Certificate:**
A No Dues Certificate (NDC) or No objection certificate (NOC) states that all dues have been settled and that the lender does not have any rights or claim on the property. Your NDC should mention critical details related to the housing loan (property address), customer name(s), the loan account number and amount, and the dates of starting and closing of the loan. It is advised that you make copies of the NOC so any future deals related to the property go smoothly.

**3. Updated Non-Encumbrance Certificate:**
A Non-Encumbrance Certificate is a legal document containing detailed records of all financial transactions related to the property. Once you have settled your home loan the repayment should be reflected in the Non-Encumbrance Certificate.

**4. Post-dated Cheques:**
Your lender may have required you to submit post-dated cheques in the event of any missed EMI. If you have always been on time with your payments, make sure you retrieve all the submitted post-dated cheques.

**In addition to these documents, there are two tasks that you need to complete:**

**1. Removal of Lien on the Property:**
At times, lenders may put a lien on the property. This effectively prevents the customer(s) from selling the property. In such cases, the lien must be removed after the repayment of the loan. To remove the lien, visit the Registrar’s Office along with an official from the lender’s side.

**2. Make Sure Your Credit Records are Updated:**
Check if your credit records are updated after you repay your home loan. Usually, it takes around 20-30 days for the repayment to be reflected in your credit history. Subsequently, request a credit report and verify the updated record.

**What are the 10 key things to keep in mind when it comes to finances?**

So far, in this module on personal finance and financial planning for beginners, we’ve seen how India’s tax system is structured, particularly with regard to individuals like you. We also ventured into the various investment options available. The next logical step is to learn how to do financial planning. It seems complicated at first glance because there are many steps involved; however, it can quickly become simple once you start going through these steps one by one (and remember them). A huge part of learning about how to do financial planning is knowing what to consider and keep in mind during the process.
What are some things that someone would need to remember when doing basic financial planning? How does someone actually go about doing those things properly? Let's find out together!

**1 - Starting early gives you an enormous edge**

This idea has already been explored in chapter 2 of module 1 of Smart Money. When we looked at a few examples and calculated what kind of potential your assets could get if you began investing early, I think it became very clear how much there was to gain from that decision. Compound interest multiplies your earnings exponentially over time, giving those who begin earlier- like yourself- an advantage when it comes to reaching their financial goals.

**2 - Developing a personal budget is the first step to managing one's finances**

It is always best to set aside some time during the week or month to sit down and draw up a personal budget. Keeping tabs on your spending habits will allow you to spend less unnecessarily, which will in turn give you more money to save. In fact, many people adopt what they call the 50-30-20 system (50% of monthly income should go toward living expenses, 30% of monthly income should be spent on leisure activities or luxuries, and 20% of monthly income should be allocated towards savings).

**3 - An emergency fund is a good way to prepare for unexpected events**

Life is full of surprises. It's important to have enough cash on hand in case you ever run into some unforeseen event - because who knows what could happen! One great way to do this is by setting aside a small amount from both your budgeted monthly expenses and investments each month until you are able to save enough money for six months' worth of monthly expenses, which will help cover anything from unexpected unemployment or medical emergencies**.**

**4 - Credit cards can be used too often**

Credit cards are useful financial tools that can come in handy for people who don't have enough money but need to purchase something. Even though they're great, if you use them too much or make mistakes with your spending habits, you could end up paying a lot of fees and interest rates. That's why it's important to only charge what you really need to on the card; never go over 30% of your total credit limit, and always pay off your bill right when it comes due.

**5 - Tax reliefs are our best friends**

As taxes can take up a huge chunk of your revenue, making full use of the many tax benefits granted by the Income Tax Act is crucial. To plan well when it comes to finances, consider using all available options under Section 80C - which allows you to deduct at least Rs. 1.5 lakh from your total taxable income per fiscal year through various investments.

**6 - Thinking long-term will pay off**

It is never too early to start saving up for retirement. While this may seem like a long ways away if you're in your 20s or 30s, the day comes surprisingly quickly. Most financial experts say that one needs about 70-80% of their current salary as their post-retirement income; therefore, it becomes essential to save as much money as possible from an early age - because life goes by fast. As well when you are saving up for retirement through government-sponsored programs such as PPF, NPS, and PMIS - you can also claim tax benefits worth up to Rs. 1.5 lakhs!

**7 - Eliminating debt needs to be a priority**

Loans and other debts come with high-interest rates, which means they can quickly eat into your income and savings. This shouldn't happen though because you can stop it by paying off these loans first before investing or saving any money. Paying off these loans will give you the money needed to do so while still getting time to save up some extra money too!

**8 - Be cognizant of how your actions will affect your family**

Making sure your family is taken care of from a financial standpoint is just as important as anything else in life. This means making sure they have enough money to survive if you are suddenly gone. Insurance provides a way to make sure that happens, and it also doubles up as an investment opportunity - providing both investments for yourself and protection for your loved ones.

**9 - It is always a good idea to turn to professionals for assistance**

Newbies often back down from asking for help when it comes to finances. It is best, however, to ask someone who has the expertise and experience of a qualified financial planner if you are unclear about what your next steps should be. These people can guide you through this complex world and show you how to work towards achieving your goals financially. Some professional planners also offer advice on reducing taxes or managing investments - all of which help make life simpler!

**10 - Review. Review. Review.**

Financial planning isn't a one-stop shop; it's an ongoing process. This is why it's so important to regularly review your goals, because they may change over time! Let's say you're getting older and riskier investments don't seem so appealing anymore - instead, you're more inclined towards investing for the long term. In this case, you'll need to revise your goals, investment portfolio, and financial plan accordingly.

**Conclusion**

These 10 pointers that we just saw are not the only ones to keep in mind when planning your finances. However, these are some of the most important. That said, there are two things that you should remember during financial planning - discipline and timing. Start your investments early even if it means that you would have to start small. And, maintain discipline by investing consistently and regularly. This way, you can maximize your returns. With this, we’ve finally come to the end of the personal finance module. Nevertheless, this is not the end. We will be taking a look at some more modules related to investments and finance in the near future. Till then, stay tuned and keep reading Smart Money.