India is home to many festivals, and none is more captivating and mesmerizing, than the celebration of Durga Puja. True to its diversity, it is celebrated across India, but it essentially signifies how good triumphs over evil.
This is the perfect time to take inspiration from this festival to turn your financial situation around.
In most notable places, it also worships the nine forms of Goddess Durga. Taking this into consideration, here are nine financial mantras everyone should follow for a happy and prosperous life:
Mantra #1: Following a disciplined approach
Managing your money is not a simple job but it is not difficult either. Planning for finances can’t resolve all your money issues instantly. But as you follow a disciplined approach of fasting and abstinence during Navratri, so should you follow a disciplined and organized approach in all your financial matters.
Mantra #2: Stay away from debt
Just as Ma Durga triumphed over evil by defeating Mahishasur, you too can succeed by eliminating bad financial decisions. Getting rid of the high-rate debts and unnecessary credit cards can help.
Mantra #3: Plan your expenses
Durga Puja and Dussehra are known to be the good time for new beginnings. So start budgeting. This will also help you understand how to spend your money and allow you to make the necessary changes.
Mantra #4: Save for the future
Goddess Durga fought and slew the demons to save the future of humanity. Likewise, you need to slay your financial demons and save for the future. It is important that you set aside some money for the future and learn to live within your means.
Mantra #5: Insure yourself
Just as the lamp lit in front of the Goddess represents eternal divine power, you should focus on your inner power and invest in yourself. Take a health cover, get life insurance, do proper retirement planning. You can also look at improving your skills for better career prospects. There is no right time to invest; invest as early as you can.
Mantra #6: Make your money work for you
Just as farmers plant various cereals, pulses, and other crops, make your money work for you by investing in different asset classes and creating a diverse portfolio.
Mantra #7: Review your investments regularly
It is good if you review your investments regularly you can make any adjustments necessary to get the most out of your portfolio. This will, in turn, make you happy by giving you peace of mind and helping you relax.
Mantra #8: Become Financially literate
There’s a ritual of worshipping books and work tools on Vijay Dashami; similarly, you should devote some time to improve your financial knowledge. You should simply study the basics of finance and also contact your financial advisor for acquiring a deeper understanding of the different investments you have made.
Mantra #9: Take advice from experts
Times are changing and what worked for our parents may not necessarily work for us. It is advisable to take advice from experts rather than make mistakes that can prove expensive over time.
With a vast and varied selection of financial products under one roof, we can help you plan your finances better. Explore investment opportunities and choose from an array of investment products such as mutual funds, stocks, bonds, etc.
This Navratri, resolve to take control of your finances and free yourself from the evil of bad debts!
One of the best ways to enforce financial discipline is to invest in mutual funds through the SIP route. Invest wisely so it generates a second passive income.