A financial goal is a specific, measurable, and achievable target that you set for your finances.

It can be short-term or long-term and can include both saving and investing goals. Some common financial goals may include:

Paying off debt: Many people set a financial goal to pay off high-interest debt, such as credit card debt, student loans, or car loans.

Building an emergency fund: An emergency fund is a savings account that can help you cover unexpected expenses, such as medical bills, car repairs, or job loss.

Saving for a down payment: If you plan to buy a home, you may set a financial goal to save for a down payment.

Saving for retirement: Retirement savings is a long-term financial goal that requires consistent contributions to a retirement account, such as a 401(k) or IRA.

Saving for a big purchase: You may set a financial goal to save for a big purchase, such as a car, a vacation, or a home renovation.

Setting financial goals can help you stay motivated and focused on your long-term financial success. It's important to create a plan that works for your individual needs and to regularly review and adjust your goals as your financial situation changes.

This Article Going to Help You with The Best Way To Save Earned Money.

There are many ways to save money, but here are some tips to help you get started:

Make a budget: Start by creating a monthly budget that outlines your income and expenses. This will help you identify areas where you can cut back and save money.

Track your expenses: Keep track of your expenses by writing them down or using a budgeting app. This will help you stay on top of your spending and identify areas where you can save money.

Cut back on unnecessary expenses: Look for ways to cut back on expenses that are not essential, such as eating out or buying expensive clothes. Consider cooking at home, buying second-hand items, and finding cheaper entertainment options.

Set savings goals: Set specific savings goals for yourself and work towards them. This could be saving for a down payment on a house, a vacation, or an emergency fund.

Automate your savings: Set up automatic transfers from your checking account to a savings account each month. This will make it easier to save money and help you stay on track towards your savings goals.

Shop smart: Look for deals and discounts when shopping for groceries, household items, and other essentials. Use coupons and shop during sales to save money.

Reduce debt: Pay off high-interest debt as quickly as possible. This will help you save money in the long run by reducing the amount of interest you pay.

By implementing these tips, you can start saving money and working towards your financial goals.

Click Here to Know More How To Improve Cibil Score.

CIBIL score, also known as a credit score, is a three-digit number that ranges from 300 to 900, and it represents an individual's creditworthiness. It's one of the most important factors considered by banks and other financial institutions when assessing a loan or credit card application. In this article, we will discuss in detail what a CIBIL score is, how it is calculated, why it's important, and how to improve it.

What is a CIBIL Score?

A CIBIL score is a numerical representation of an individual's credit history, and it's generated by Credit Information Bureau India Limited (CIBIL). CIBIL is India's first credit information company and was established in 2000. The company maintains credit records of individuals and companies and provides credit reports to banks and financial institutions.

A CIBIL score ranges from 300 to 900, with 900 being the highest score possible. A higher score indicates that an individual is more creditworthy and has a lower risk of defaulting on a loan or credit card. On the other hand, a lower score indicates a higher risk of default.

How is a CIBIL Score Calculated?

A CIBIL score is calculated based on an individual's credit history. The credit history includes information such as the number of credit accounts an individual has, the amount of credit used, the length of credit history, and the payment history. Here's a breakdown of how a CIBIL score is calculated:

• Payment History (35%): Payment history is the most crucial factor that impacts an individual's credit score. It includes the number of times an individual has missed or made late payments on credit cards, loans, and other debts.

• Credit Utilization (30%): Credit utilization refers to the amount of credit an individual is using compared to their credit limit. It's advisable to keep the credit utilization ratio below 30% to maintain a good credit score.

• Length of Credit History (15%): The length of credit history is another important factor that affects an individual's credit score. A longer credit history indicates a more responsible borrower and, therefore, a higher credit score.

• Types of Credit (10%): The type of credit an individual has, such as a credit card or a loan, also affects their credit score. A healthy mix of different types of credit can positively impact a credit score.

• New Credit (10%): Applying for too many credit accounts at once can negatively impact an individual's credit score. Therefore, it's advisable to apply for credit only when necessary.

KEY TO THE BUDGET DOCUMENTS 2022-2023

1. The list of Budget documents presented to the Parliament, besides the Finance Minister’s Budget Speech, is given below:

A. Annual Financial Statement (AFS)

B. Demands for Grants (DG)

C. Finance Bill

D. Fiscal Policy Statements mandated under FRBM Act:

i. Macro-Economic Framework Statement

ii. Medium-Term Fiscal Policy cum Fiscal Policy Strategy Statement

E. Expenditure Budget

F. Receipt Budget

G. Expenditure Profile

H. Budget at a Glance

I. Memorandum Explaining the Provisions in the Finance Bill

J. Output Outcome Monitoring Framework

K. Key Features of Budget 2022-23

L. Implementation of Budget Announcements, 2021-2022

The documents shown at Serial Nos. A, B, and C are mandated by Art. 112,113 and 110(a) of the Constitution of India respectively, while the documents at Serial No. D(i) and (ii) are presented as per the provisions of the Fiscal Responsibility and Budget Management Act, 2003. Other documents at Serial Nos. E, F, G, H, I, J, K and L are in the nature of explanatory statements supporting the mandated documents with narrative in a user-friendly format suited for quick or contextual references. The “Output Outcome Monitoring Framework” will have clearly defined outputs and outcomes for various Central Sector Schemes and Centrally Sponsored Schemes with measurable indicators against them and specific targets for FY 2022-23. Hindi version of all these documents is also presented to the Parliament. The Budget documents can be accessed at http://indiabudget.gov.in.

CLICK HERE TO DOWNLOAD KEY OF BUDGET DOCUMENT

Download Key Features of Budget 2022-2023

Goldhas marched ahead of all other assets over the past 1/3/5-year timeframe in terms of investment returns. The Gold ETFshas given 47.79% in last one year as on 05^th May’2020.Financial Planners advise 0-10% of the portfolio to be invested in gold depending upon the risk profile, goals and capital market expectations.

Allocation to gold can be taken by way of Sovereign Gold Bonds, Physical Gold andGold ETFs (or Gold funds).

as on 05^th May’2020 valueresearchonline.com