"Rejected." That is the message you will see when you apply for your first Personal Loan or Credit Card if you have no CIBIL score. In India, "No Credit History" is almost as bad as "Bad Credit History." Whether you want to buy an iPhone on EMI, get a bike loan, or apply for a Premium Credit Card, you need a CIBIL score of 750 or higher . But how do you build a score if no bank will give you a loan? This is the classic "Chicken and Egg" problem. Fortunately, in 2025, there are 3 guaranteed ways to build a perfect score without having a job or salary slip. 1. The "FD-Backed" Credit Card (The Golden Ticket) This is the fastest way to build a score from scratch (0 to 750). How it works: You give the bank a small Fixed Deposit (e.g., ₹2,000 or ₹5,000). In return, they give you a Credit Card with a limit of 90% of your deposit. Why banks love it: Since they have your deposit, there is zero risk for them. Best Cards for this: IDFC First WOW...
College is the first time many of us handle our own money. And honestly? Most of us are terrible at it. We spend our entire monthly allowance in the first 10 days and survive on Maggi for the rest of the month.
But being "broke" isn't a badge of honor; it's a lack of planning. If you want to graduate with savings instead of debt, stop making these 7 common money mistakes.
1. Eating Out Everyday
"Let's go to the canteen" is the most expensive sentence in college life.
The Mistake: Spending ₹50 daily on snacks doesn't feel like much, but that is ₹1,500 a month.
The Fix: Carry a water bottle and a small tiffin from home/hostel mess. Save the canteen for Fridays only.
2. Buying Brand New Books
I have said this before, and I will say it again: Buying first-hand books is a waste of money.
The Fix: Buy second-hand or use the library. You will use that book for only 4 months. Don't pay full price for it.
3. Ignoring Student Discounts
You pay full price for Spotify, Amazon Prime, and Laptops because you are too lazy to check for a discount.
The Fix: Always ask, "Do you have a student offer?" You can save thousands every year.
4. Succumbing to Peer Pressure (FOMO)
Your friends are going for a movie or a trip, and you go just because you don't want to miss out, even if you can't afford it.
The Fix: Learn to say "No." Real friends understand your budget.
5. Not Tracking Expenses
You have no idea where your ₹5,000 went.
The Fix: Install an app like "Walnut" or just use a small diary. If you know you spent ₹1,000 on pizza last week, you will naturally spend less this week.
6. Relying Only on Parents
Thinking "My job is only to study" is an old mindset.
The Fix: In 2025, you can earn money from your phone. Even ₹2,000 extra a month changes your life. Start a side hustle.
7. Keeping Money Idle
Leaving your savings in a normal bank account (or cash in your pocket) means it is losing value due to inflation.
The Fix: Move your spare cash to a High-Yield Savings Account or a Recurring Deposit (RD).
Conclusion
Making mistakes is part of learning. But repeating them is foolish. Fix these habits today, and your future self will thank you.
Want to fix Mistake #6 (Relying on Parents)?
Start earning your own money today: 👉
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