Among the pantheon of Gods for the Hindus, Lord Ganesh is the God invoked to start a new venture as Lord Ganesh is the God of intelligence and wisdom. More importantly, Indians believe that Lord Ganesh removes any obstacles that may come in the way of the success of the new venture. Indians all across the country celebrate the festival of Ganesh Chaturthi – a 10-day festival that falls as per the lunar calendar translating to different dates each year as per the Gregorian calendar typically in August/September.
Why are we talking about celebrating the highly revered Ganesh Chaturthi in a financial website? There are important lessons that you can learn from the way people celebrate this festival. Let’s see what lessons we can learn from this long-drawn 10-day festival.
Invoke the Lord to start your financial investment venture
If you have not already started investing for your future financial security, Ganesh Chaturthi is the ideal time to treat it as a new venture and begin during this festival. With the Lord’s blessings, you can use your intelligence to invest wisely and you are bound to succeed as the Lord is there to help you remove any obstacles that you may encounter. This is the best time to firm up your mind and commence a systematic investment plan (SIP) in a mutual fund scheme or commence a recurring deposit scheme. The key point is the regularity of investment with single-minded devotion; just as you would celebrate the festival regularly and with reverence.
Gain knowledge on various investment avenues
The Lord is the God of wisdom and intelligence. You should investigate all avenues for investment and gather as much information as possible and apply your intelligence to firm up plans for a planned investment journey that lets you become financially independent in the near and distant future. You can scour the Internet or you can take up a short-term course or you can follow any of the numerous websites that offer investment advice.
Learn to invest individually and collectively
You realize that you celebrate Ganesh Chaturthi individually in your home and also collectively in your community. This tells you that you can invest prudently as an individual in various schemes of your own volition or invest in mutual funds which professionals manage for you and millions of investors like you. You can benefit from your own intelligence and the intelligence of others.
Insurance as protection
You invoke the Lord to protect you. Make life insurance and health insurance your financial protectors. This is important because you don’t know when any untoward events may occur that can drain you financially. Besides invoking the Lord, you should wisely invest in insurance schemes to help you tide over difficult times for you and your family. Often, the cost of protection is just about the same as the amount you spend on celebrating the festival.
Use loans prudently
You may plan your financial affairs very well but you are bound to face some financial difficulties along the way. It is just for such occasions that banks and NBFCs such as Tata Capital provide short-term help to tide over difficult financial situations. Perhaps, your child needs to go on a study tour for which you had not planned. Instead of delving into your savings or breaking some of your long-term investments, you can overcome the difficulty by taking a festival loan or a personal loan extended by Tata Capital.
Learn financial discipline
When you prepare for celebrating Ganesh Chaturthi, you plan well, provide funds, socialize, exchange gifts, perform the rituals reverently, clean homes and wear new clothes. You repeat this year after year and each year your reverence grows. This teaches you to become disciplined in your financial affairs. If you set goals and set out a plan to achieve those goals then you need to discipline yourself to pursue the plan and implement it faithfully. For instance, if you had to take a personal loan, then you need to evaluate the pros and cons – how much to take, what EMI you can afford, use of tools available such as personal loan EMI calculator, who offers the best terms, ease of obtaining the loan and when to apply for personal loan. If you have learned discipline, then taking the loan is no big deal because you know that you will repay it with little fuss. The above are just a few of the ways in which you can learn a lot from Indian festivals. The significance of the festivals, the way you celebrate them, the reverence with which you celebrate each of them and the disciplined approach you take to prepare for the celebrations especially Ganesh Chaturthi are remarkably prescient and will come in handy in your financial independence journey of your life.There is always NBFCs such as Tata Capital to support you.