Before moving to 'buy / not to buy' decision, you should understand ur current spending status first. (Recipe.finology.in > Prosperity Ingredients > Spending Habit)
When u r 'Overspending', it's suggested to bear a new expense & jeopardize d situation!
Try tweaking ur spending habit first to see if d new purchase fits in or not.
Click 'Replan' button & enhance ur spending profile by reducing non-essential exp. (Wants)
For eg
(4/10)
An Iphone 12 costs around ₹61K in Amazon (probably lowest among all e-coms). The 9-month EMIs for most credit cards is around ~ ₹7.5K
But can you fit it into your new spending plan? 🤔
(5/10)
Under the enhanced spending plan, u are saving ₹8K p.m. So yeah, u can afford to pay EMIs for the new Iphone12.
But wait!
You will save & invest less than 2% of ur salary (₹0.5K), which should ideally be 20%! So, clearly NO❌
Not just that, check ur debt profile👇
(6/10)
Say, u have ₹10L education loan with EMI of ₹10K. If u chose to buy the Iphone, u'll add another loan of ₹61K with EMI of ₹7.5K
Total Loan = ₹10.61L; Total EMI = ₹17.5k
(no existing savings)
Enter these in Recipe's Debt Diagnosis calculator & see the result👇
(7/10)
As you can clearly see in the results, your ‘Risk of Debt Trap’ is High!
So, taking loan to buy Iphone won’t be a good option for you now.
But wait! We have an alternate plan for you👇
(8/10)
What if we say you could buy it at ease without having to worry about EMI payments every month?
Go to Recipe.finology.in > Dashboard > Goal Planner > Add ‘Custom Goals’
By investing just ₹5K p.m, you can buy an Iphone12 next yr (even if its price goes up to 65K)
(9/10)
Sounds cool, right? 😍
The only caveat is u need to realise dat purchasing it today is only gonna overburden u, but 1 yr hence, u'll be in a much stable situation to buy it without any stress.
So, start investing & u’ll never have to compromise wid any of ur goals!
(10/10)
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The Long term capital gain on equity shares & MFs are taxed at the rate of 10%, if your gain is more than Rs. 1 lakh.
So, you can strategically plan your long term investments by booking LTCG upto 1 lakh and reinvesting the money next day.
(2/8)
2) Tax-loss harvesting
If any of your equity holding is experiencing a consistent fall & you feel that the security has lost most of its value & chances of a rebound are bleak, you can offset the loss against capital gains that your portfolio has earned over the period.
Founded in the year 2016 by IIM Indore alumni Vivek Bajaj & Vineet Patawari, Stockedge has grown to be one of the more popular stock analysis and learning platforms in India. (2/6)
As of June 2021, StockEdge had >2 million downloads and >30,000 reviews on Google Play Store. (3/6)
A new "bad boy" in the Industry : BharatPe's #ashneergrover 🤠
A popular face of social media after his appearance as a panelist in #SharkTankIndia, Grover is in d limelight, but this time “it’s -ve publicity”!
Read d complete thread to know "What's the buzz all about?"
(1/17)
It all started on 5th Jan, when a call recording leaked into the public resulting in exposing an ugly side of the Shark.📞
Grover was found bashing an employee of Kotak Mahindra Bank for failing to gain a share of allocation for Nykaa’s IPO.
(2/17)
Grover claimed that the audio clip was “fake” but soon after this, Kotak issued a statement stating that the bank is pursuing “appropriate legal action” against BharatPe’s MD, Ashneer Grover, for the “inappropriate language” used in the call.