# Personal Finance for Beginners in India — The 1-Page Cheat Sheet

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I'm Amit. A rejected loan (thanks to a CIBIL score I'd never heard of) forced me to finally learn money. Here's the whole thing on one page — no jargon, no fluff. Save it, work through it.

## The one rule: 50 / 30 / 20

- **50%** needs · **30%** wants · **20%** savings

- Pay savings _first_, not with whatever's left over.

## The 7-step checklist

1. **Track every rupee for 1 month** — you're overspending 15–20% somewhere you can't see.

2. **Emergency fund first** — 3–6 months of expenses in a separate account. Start with ₹10,000.

3. **Know your CIBIL score** — 750+ is good. Auto-pay every card so you never miss a due date.

4. **Start a ₹500 SIP now** — ₹5,000/mo at 12% from age 25 = ~₹3.25 crore by 60. Time > amount.

5. **Kill 30–42% credit card debt first** — before any other loan.

6. **Use 3–4 apps, not 10** — expense tracking, free CIBIL check, SIP, and one for emergencies.

7. **Insure health + term life** — never mix insurance with investment (skip ULIPs/endowment).

## CIBIL quick facts

- Range **300–900**; aim for **750+**

- Biggest factors: **payment history (35%)** + **credit utilization (30%)**

- Check it **free once a year** — _before_ you apply for a loan.

## Your first month

- **Week 1:** Track expenses + pull free credit report

- **Week 2:** Open emergency-fund account

- **Week 3:** Automate bills, cancel dead subscriptions

- **Week 4:** Start ₹500 SIP + set one 6-month goal

## One tool tip

For "car broke down, salary's a week away" moments, I keep [TrueBalance](https://www.truebalance.io/) installed to check eligibility for a small instant loan — so I'm never forced onto a 40% credit card. Tools should give you a calmer option, not more ways to spend.

📖 **Want the detailed version?** Read the full step-by-step guide → [Personal Finance Guide for Beginners in India](https://paisasamjho.inblog.io/personal-finance-guide-for-beginners-in-india-217502)

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_Start with expense tracking today. The best time was 10 years ago — the second best is now._ 💚

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