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How to Celebrate This Dussehra from a Financial Perspective

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The most awaited festival, Dusshera is around the corner. Dusshera is marked by fireworks, fanfare, and fervor across the country. The euphoria on the street is so dazzling that this festival which follows a nine day Navratri festival just cannot be missed. The mood on the Indian streets is enchanting during the festival. Celebrating Dusshera is all about taking fresh prescriptive in life and starting something new afresh. The festival offers a lot of financial lessons which we can learn and implement in our financial plan to achieve a better future.

Here are top ten vices you should eliminate this Dusshera:-

  1. Investing without proper Planning

  2. Being unaware of Investment objectives

  3. Ignoring Your Risk Appetite and Age before investing

  4. Continuously adding loans to your portfolio

  5. Not Reviewing your investments

  6. Not Diversifying your Investments

  7. Ignoring Cost and Tax implications

  8. Investing under Peer Pressure

  9. Investing with Borrowed funds (except in case of the Real estate)

  10. Speculating which can be hazardous to your wealth and health

Now let’s discuss some significant financial investment issues that we can learn from the Dusshera Festival

  1. Wage a war against Financial Evils: There are multiple financial evils that pose a serious threat to your wealth creation journey. Overtopping credit card debts, mounting debts, impulsive shopping expenditures, timing the market, booking losses are some of the most dangerous obstacles that stop us from creating wealth. Now according to Ramayana, Rama encountered many obstacles during his lifetime and was finally victorious. You also need to become a warrior like Rama and root out all the financial evils and hurdles to become victorious. Eliminating financial evils will help you create a proper financial Plan which will adequately take you to your destination where your financial aims will be fulfilled.

  2. Including ‘Righteousness’ in our lives: Rama has shown the path to lead a disciplined life. Rama faced hardships and lived a frugal life for fourteen years. You too can follow the footsteps of Rama and can save wisely, spend cautiously and invest smartly by including financial discipline as part of your everyday life. Financial discipline means you have to stop being a spendthrift, by stopping spending on meaningless products and service and the amount that would be saved should not be kept idle in the Savings Account. It should rather be invested smartly through SIPs into investment options like Mutual Funds.

  3. Accepting Forbearance and Patience as weapons of success: Lord Rama along with Lakshmana and Sita were exiled for fourteen years in the Jungle. The Royals who had lived a luxurious life earlier had to accept a frugal and hard life in the woods. Meanwhile, he had to fight a war against The Lankan king Ravana after Ravana abducted Sita. These two incidences in Rama’s life teach us to have patience and never give up attitude in our lives, especially in the hardest times. Now, financial hardships are part and parcel of everybody lives and investments are no different. Once the Investor discovers that in short term, his investments are not giving him good dividends or if he finds that his investment’s NAVs are declining then he tends to end his investments. This will only derail you Financial Express and you won’t be able to reach your financial goals. You have to practice Perseverance and Patience to be successful.

  4. Safeguard your money for financial Success: Rama won Lanka and saved Sita on the day of Dusshera. You too need to have faith like Rama and that you should work hard today to have a bright future. You need to safeguard your finances and money for a bright future. Your financial well being in the future will depend on how you manage your finances today. Investments in Mutual Funds and Life Insurance plans can ensure financially sound future for you and your loved ones tomorrow. You can also develop a Contingency Fund for yourself for any exigencies in the future.

  5. It’s never too late to begin and start afresh: Dusshera marks the victory of Rama over Ravana and the end of the Lankan War. Rama meets Sita again to start a new life afresh. You might have committed mistakes in the past that led to financial losses. But it doesn’t mean that you cannot invest again. Remember investments are important for you. You can learn from your earlier experiences and design a financial plan with your financial planner cautiously based on your risk appetite. There are multiple investment options and you can choose any of the available investment options. For example, you are always welcome to invest in Mutual Funds through SIP which not only decreases your risk but is also a useful tool for financial discipline.

The Lankan war began after Sita crossed the Line that Lakshmana drew for her. You need to work on yourself and remove your bad financial habits so the Ravana inside you would not be able to empower itself and take away the wellness away from you. Your choices for achieving financial freedom depend on how you eliminate bad financial habits and include good ones.

Happy Dusshera! Happy Investments!

Mr. Ajay Kumar Jain, M.Sc, Chairman And Managing Director
Being the Chairman And Managing Director, he focuses on holistic investment planning and wealth management and tries to make investment planning simpler for retail and HNI investors. Investor education is one of the prime things that Mr. Ajay Jain focuses on as he believes financial education is the foundation of successful investing. With over two decades of experience, Mr. Jain has made a mark in the Indian mutual fund industry due to his compassion and sheer hard work.

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