financedragon-blog - Tumblr blog

[financedragon-blog]

Want to be Rich and Retire? You Need Financial Goals 

What's your financial goal? 

This isn't just a question—it's the first step toward achieving a life you've dreamed of. 

 Setting financial goals is crucial and it can dramatically improve your quality of life. 

Whether you're aiming for retirement, saving for a home, or planning a vacation, setting clear financial targets helps provide direction, motivation, and a sense of control over your financial future. 

 Write down all your financial goals, understand how to set achievable goals, and the strategies to help you meet them. 

[financedragon-blog]

Super-Easy Way to Save Money and Not Lose Your Mind !!! 

Meal planning is a powerful strategy that can significantly enhance various aspects of your life, from reducing stress to ensuring you eat healthily while also saving money. Here’s how meticulous meal planning achieves these benefits:

Reduces Stress

Meal planning eliminates the daily pressure and uncertainty of deciding what to eat. By knowing in advance what you'll cook, you avoid the last-minute stress of meal decisions. This pre-planning also ensures you have all the necessary ingredients, avoiding the frustration of missing something essential. It streamlines your grocery shopping, making it more efficient and less chaotic.

Promotes Healthy Eating

When you plan your meals, you can make deliberate choices about including a variety of nutrients in your diet. This foresight helps in balancing macronutrients and micronutrients, which might be overlooked when making spontaneous food choices. Planning allows you to create menus that fit nutritional goals, such as incorporating more whole foods, fruits, and vegetables, leading to healthier eating habits over time.

Eat What You Love

Meal planning doesn’t mean restricting yourself to a rigid diet. It actually ensures that you can incorporate your favorite foods into your diet in a balanced way. You can plan for indulgences and comfort foods in moderation, integrating them into your weekly menu. This way, you get to enjoy what you love without overindulgence, knowing you have planned healthy meals around them.

Saves Money

Meal planning is economically beneficial because it allows you to make the most of your grocery shopping. By planning what you need, you buy only those ingredients required for your meals, reducing impulse purchases that often increase grocery bills. It also minimizes food waste since every food item bought has a purpose in your meal plan. Additionally, by cooking at home more frequently, you save money that might otherwise be spent on eating out or ordering takeout.

By implementing meal planning into your routine, you can enjoy these comprehensive benefits, making your lifestyle both cost-effective and healthy. Not only does it help keep your physical health in check, but it also provides mental relief by reducing decision fatigue and the stress associated with daily meal preparation.

[financedragon-blog]

How to Get Rich? Lesson 1: Practice Mindful Spending #financialfreedom

Mindful spending profoundly transforms your financial habits and your wealth. 

 Mindful spending is about reflecting on how each purchase aligns with your goals. It turns spending into a deliberate choice, not a habit. All you need to do is pause and think before each purchase. Make purchases that truly matter to you and your long-term objectives. 

 Mindful spending isn't just about saving money; it's about investing in what genuinely enriches your life and brings you closer to your dreams. 

Join us as we explore how to make every rupee count and turn your financial decisions into steps toward a fulfilling future. 

#MindfulSpending #FinancialWellness #SmartChoices #MoneyGoals #IntentionalLiving #financialfreedom #ownyourmoney #personalfinance #saveinvest #wealthmindset #financedragon 

 https://financedragon.com/ 

 Painting: Idleness II by John William Godward

[financedragon-blog]

How to Get Rich? Let Your Wife Handle Your Investments as Women Are Better At It

[financedragon-blog]

Inflation Trends Over 50 Years: G-7 vs Emerging Economies #india #inflat...

Dive into the past with a journey through time, and look at the annual average inflation rates per decade for G-7 countries and emerging economies. Witness how inflation in India stands in comparison not just with its Asian counterparts, especially China, but against major economies worldwide over the last half-century. 

This comparison offers a broader perspective on India's economic resilience and growth trajectory amidst global inflationary trends.

Understanding these patterns provides insight into the economic stability and challenges faced by countries, influencing policy decisions, investment strategies, and the global economic landscape. 

#InflationRates #GlobalEconomy #G7vsEmerging #EconomicTrends #InflationInIndia #EconomicInsight #FinancialAnalysis

[financedragon-blog]

Budgeting doesn't mean....

Budgeting doesn't mean cutting back on everything you love.

It's about making smart choices to enjoy life, guilt-free.

This nugget of wisdom is all about redefining budgeting. It’s not about restriction; it’s about empowerment. By making informed decisions with your finances, you can continue to indulge in your passions and joys without the burden of guilt.

Embrace budgeting as a tool for financial freedom and personal fulfillment. Let this video inspire you to look at your budget in a whole new light. Join us for more quick tips and insights that can transform your approach to money and life.

Subscribe for more life-changing financial wisdom packed into bite-sized content!

#BudgetingTips #FinancialFreedom #SmartChoices #GuiltFreeLiving #MoneyManagement #PersonalFinance #EnjoyLife

ownyourmoney #personalfinance #saveinvest #wealthmindset #financedragon

https://financedragon.com/investments/

[financedragon-blog]

How to Improve Your Chances of Getting a Small Business Loan?

How to Get an MSME Loan?

Looking for a Small Business Loan from Indian banks?

You have landed at the right place. This page contains all the information you will need to know to improve your chances of getting an MSME loan.

Small businesses are the backbone of any economy. This is probably why responsible governments across the world create special schemes for small businesses, women entrepreneurs and other underserved communities of the society. In India, small business loans (also known as MSME loans since they are offered to Micro, Small and Medium Enterprises) have specific eligibility criteria that the applicants have to meet to get the loan and avail other benefits reserved for MSME units.

If you want to avail an MSME loan, it would help to strengthen your profile as a potential borrower so that the bank considers you to be good applicant and sanctions you the loan.

4 Tips to Improve Your Chances of Getting Approval for a Small Business Loan

Here are four things you can do to improve your chance of getting an MSME loan:

#1 Check and Improve Your Credit Score

Lenders always keep a track of the repayment capacity of the borrower whether they are your friends, colleagues or a lending institution. This means that your credit score is going to play a crucial role in getting the loan. Therefore, the first and foremost thing you need to do is to check your credit score. Hopefully, it is a respectable score and you only have to focus on maintaining it. However, if it is not yet a favourable one, we suggest that you improve your credit score first by making pending payments on credit cards and paying off loans that you can before you take your new loan application anywhere near a bank.

#2 Choose the Bank Wisely

Plenty of lending institutions in India offer MSME loans, right from Public Sector Banks and Private Sector Banks to Regional Rural Banks (RRBs) and Non-Banking Finance Companies (NBFCs). They cater to a specific niche of the Indian population that they target as customers. Before you can go any further, you need to decide which bank would be the right one for you. Proximity to bank branch, special loan schemes to businesses in the segment/industry as yours and relatively low-interest rate are just some of the factors you can consider to make your choice.

#3 Choose the Loan Amount Wisely

The loan amount you apply for should not just be what you need for your business but also something that you can comfortably repay in the future. Your eligibility also plays an important role here since a bank will check your repayment capacity before sanctioning the loan. If the loan amount is higher than what you are eligible for, the bank will simply reject your application.

We suggest talking to a bank representative to discuss your application and know the loan amount to which you are eligible before actually submitting your application.

#4 Do Not Apply at Multiple Banks Simultaneously

Getting a loan is not like getting admission to college where you apply to multiple institutions and then choose from the ones where you get accepted. You cannot apply to multiple banks for loans to improve your chances of getting a loan approval. This is because each loan application/query gets captured in your credit report. Imagine how multiple rejections will look in your credit report. This will further reduce your chances of getting a loan from other banks where you apply later, since they will doubt the repayment capacity of applicants who have been rejected previously by other banks.

 A Final Word

Now you may want to know which MSME loan is the right loan option for your business. Please check our MSME Loans page where we have given important details about MSME loans offered by Indian banks. Checking this page will hopefully make it easy for you to apply.

Disclaimer: This article is for informational purposes only. Please check with the bank and other official sources before taking any investment or related decisions.

[financedragon-blog]

Different Types of Corporate Business Loans Offered by Canara Bank

Business loans can be divided into two categories, namely corporate business loans (sometimes also referred to as business loans leading to confusion) and MSME loans. Corporate business loans are meant for larger businesses where as MSME Loans are designed for businesses in Micro, Small and Medium Enterprises segment.

Let us look into Corporate Business loans offered by Canara Bank, one of the largest public sector banks in the country.

Types of Corporate Business Loans Offered by Canara Bank

The different types of Corporate loans offered Canara Bank are:

Canara Bank Business Loan for Working Capital

This loan helps businesses get funds for their everyday operations. Borrowers can use the loan amount for investment in current assets, purchase of inventory or other current obligations due in the short term. Working capital loan schemes help businesses carry out important business operations during periods of reduced business activity (like seasonal businesses) or while waiting for receipt of payment after completing projects.

Canara Bank Term Loans

Canara Bank offers this loan scheme to help large corporations use funds for all capital needs. They can use the funds for carrying out everyday operations of the business or building long-term assets for the future. The bank offers this loan in Indian currency as well as foreign currencies. This loan is perfect for all types of large businesses since it can be availed for working capital as well as capital expenditure needs.

Canara Bank Export Finance

This loan helps businesses pay for pre-shipment, post-shipment and other activities directly related to the export business. The activities eligible for this loan include importing raw materials, importing capital goods, sourcing semi-finished goods and converting semi-finished goods into finished goods. Please do get in touch with the bank to get a list of all activities eligible for this loan. All export businesses can take advantage of this loan scheme to boost their export business.

Canara Bank Infrastructure Finance

Canara Bank offers this loan scheme to help large corporations in the infrastructure sector get funds for different projects such as building roads / bridges, urban development, etc. These types of loans are characterised by a large outlay of funds and a long repayment period. Canara Bank sanctions this loan in Indian currency and foreign currencies based on the needs of the borrower.

Now that you know about the different types of corporate business loans offered by Canara Bank, you might want to know which is the right loan option for your business. Please check our Canara Bank Corporate Business loans page for details.

Disclaimer:

This article is for informational purposes only. All details provided here are correct as on the publishing date of this post. The bank may decide to discontinue a loan scheme and introduce another loan scheme based on the current needs of their customers. Please check with the bank and other official sources before taking any investment or related decisions

[financedragon-blog]

Different Types of Education Loans Offered by State Bank of India

For those who don’t now, education loans are lending schemes offered by banks to help students get financial support to pay for education.

In most cases, these loans are meant for paying course fees and certain other related expenses for graduate and undergraduate courses. The availability of financial assistance ensures that students do not miss out pursuing higher education because of a lack of funds.

SBI offers a range of different education loan schemes to help students find the funds to pursue higher education. Let us take a look at them one by one.

Different Types of Education Loans Offered by State Bank of India

The different types of education loans offered by SBI include:

State Bank of India Student Loan

This SBI education loan is meant for students pursuing graduate, postgraduate and professional studies in India and abroad. Students can get an unsecured loan for up to Rs. 7.5 lakh. Students can use the funds from this loan to pay for institution fees as well as course-related expenses including purchase of books, laptops, hostel fees, lab fees and examination fees.

SBI Scholar Loan

SBI Education Loan for Premier Institutes helps students who have gained admission into a graduate, post-graduate, PhD or professional course in a premier educational institution in India such as IITs, IIMs, IISc, ISB, NIT, etc. meet their fees and other course-related expenses.

SBI Global Ed-vantage Loan

This loan is designed to help students who have gained admission into a full-time higher-education programme abroad. The maximum loan amount sanctioned by the bank for this loan is Rs. 1.5 crore. This is higher than the maximum loan amount offered by other Indian banks for foreign education.

SBI Takeover of Education Loan

This is a unique education loan scheme offered by the bank since it is targeted towards students who are struggling to pay their EMIs for an education loan and want to transfer it to SBI and lower their EMIs. Students can also opt for this loan scheme if they are not satisfied or happy with the policies of the bank from where they have availed the student loan.

SBI Skill Loan

This loan helps students fund their technical education for courses offered by Industrial Training Institutes (ITIs), polytechnics and other recognised institutions. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.

These are the education loans currently offered by SBI to students. If you want to know which one to choose or how to compare different education loan scheme, you can check our Education Loan page for details. We have discussed education loans from other banks as well.

Disclaimer: This article is for informational purposes only. All details provided here are correct as on the publishing date of this post. The bank may decide to discontinue a loan scheme and introduce another loan scheme based on the current needs of their customers. Please check with the bank and other official sources before taking any loan, investment or related decisions.