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How I Turned ₹5,000/month into ₹6 Lakhs — My 3-Year SIP Journey
In 2020, I was saving ₹5,000/month with no real strategy. I stumbled into SIPs by chance. Today, that same habit has grown into ₹6,12,000 — and taught me 3 major lessons about compounding, patience, and mistakes I wish I avoided earlier.
📉 What Went Wrong in Year 1
In my first year, I panicked during a market dip and pulled out my SIP investments. That single move cost me potential gains and broke the compounding chain. I learned the hard way that reacting emotionally to market swings is a recipe for regret.
📈 Lesson Learned: Consistency Beats Timing
- Missed rallies by being out of the market
- Lost out on rupee cost averaging
- Peace of mind improved with automation and discipline
🔄 My Portfolio Before vs After
Before (2020)
- Random savings in bank account
- No real investment plan
- Low returns (2-3% p.a.)
After (2023)
- Disciplined SIPs in diverse mutual funds
- Portfolio value: ₹6,12,000
- Average returns: 13-15% p.a.
🧠 What I’d Do Differently If Starting Again
If I could start over, I’d set up my SIPs and forget about the daily market noise. I’d diversify a bit more, avoid panic-selling, and trust the process. Most importantly, I’d start even earlier — because time is your biggest ally in compounding.
Having a strong credit score is essential for many aspects of your financial life. Whether you’re looking to buy a home, secure a car loan, or even just qualify for a credit card with a low interest rate, having a good credit score can save you money and open up opportunities. But how exactly do you go about building a strong credit score? What are the secrets to unlocking this important aspect of your financial health?
The first step in building a strong credit score is to understand how it’s calculated. Your credit score is based on several factors, including your payment history, the amount of debt you owe, the length of your credit history, the types of credit you have, and the number of new credit accounts you have opened recently. By focusing on these key areas, you can start to improve your credit score over time.
One of the most important factors in determining your credit score is your payment history. Making on-time payments on your credit accounts is crucial for maintaining a good credit score. Even one missed payment can have a negative impact on your credit score, so it’s essential to always pay your bills on time. Setting up automatic payments or reminders can help ensure that you never miss a payment.
Another key factor in building a strong credit score is managing the amount of debt you owe. Keeping your credit card balances low and paying off debt as quickly as possible can have a positive impact on your credit score. Ideally, you should aim to keep your credit utilization ratio – the amount of credit you have used compared to the total amount of credit available to you – below 30%.
The length of your credit history also plays a role in determining your credit score. The longer you have had credit accounts open, the better it is for your credit score. If you don’t have a long credit history, consider becoming an authorized user on a family member’s credit card or opening a secured credit card to start building your credit.
Additionally, the types of credit you have can impact your credit score. Having a mix of credit accounts, such as credit cards, auto loans, and mortgages, can show lenders that you can responsibly manage different types of credit. However, it’s important to only take on credit that you can afford to repay.
Finally, the number of new credit accounts you have opened recently can also affect your credit score. Applying for multiple new credit accounts in a short period of time can raise red flags with lenders and lower your credit score. Be strategic about when and how you apply for new credit and only open new accounts when necessary.
Building a strong credit score takes time and effort, but by focusing on these key factors, you can put yourself on the path to a better credit score. Remember to always pay your bills on time, keep your credit card balances low, and manage your credit responsibly. By unlocking the secrets to building a strong credit score, you can improve your financial health and open up opportunities for your future.
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How to get a good credit score