Financial Lessons from Navratri And Dussehra

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The festival of Navratri and Dussehra signifies the victory of good over evil. The mythological stories associated with Dussehra cite the importance of curbing our greed and destroying the evil intentions.
Whether it is the story of Lord Ram killing the demon King Ravan or Goddess Durga’s victory over Mahishasura- the essence is the same. We often draw inferences from ancient treaties to conduct our life. Keeping up with the tradition of imbibing values from our ancient culture, we can get to learn a lot of lessons from Dussehra when planning our finances.
Here are 5 Financial Learnings from the significance of Navratri and Dussehra that one can ponder upon:
1) Self-discipline
We celebrate the nine day festival of navratri by fasting and giving up on our favourite meals. This process needs restraint and an ability to not give in to the temptations.
Similarly, financial planning can be effective only by making small sacrifices that are a trade-off for our future’s security. Planning for financial security is imperative and discipline is the only doctrine to achieve it.
2) Reap the sweetness of wise investments
No Indian festival is complete without special recipes, mostly thus catering to the sweet tooth. Thus on Navratri and Dussehera we have Carrot Kheer, Chocolate Barfi, Kalakand, Dry Fruit Milk Shake etc. These Festival savouries carry some special and sweet lessons too! Unless you have gone horribly wrong with your investments, chances are that you have made a neat kitty of gains! If that is the case, just as you reward yourself by indulging in some sweets this Navratri and Dussehera, do give yourself a small reward by booking partial profits and perhaps buying that smartphone you have been eyeing or taking your family out on a long cherished vacation!
3) New beginnings, a fresh outlook
Vijaydashami is celebrated on the tenth day of the Dussehra and marks new beginnings for many endeavours. Analogous to this tradition we can start financial planning earnestly.
Decisions on financial matters cannot be taken on impulse and are best made when already planned. Early financial planning can bring in windfall of benefits in form of power of small savings, with the incremental value of compounding. Irrespective of your past financial decisions, make this Dusshra an occasion to begin planning your finances.
4) Time to banish the evil of bad debts
Like the numerous other festivals that we celebrate in India, Navratri and Dussehra too are a celebration of the victory of good over evil. Whether it is the story of Lord Ram killing the demon King Ravan or Goddess Durga’s victory over Mahishasura- the essence is the same.
So just as you clean out your homes and streets on the eve of Navratri and rejoice in the tradition of playing Garba, pledge to clean out the burden of bad debt that is impacting your Cibil score negatively as well. Make a list of all the things you can do to clean your portfolio and think of ways to repay your high cost debt first. Cleaning your portfolio maybe a tough task, but make a pledge to embark upon this journey this Navratri if bad debts are weighing you down.

5) Get rid of bad decisions
Dussehra is celebrated by burning the effigy of Ravan. This is symbolic to the victory of good over evil. In a similar fashion drawing analogy from this festival, we should get rid of our bad financial decisions. Review your portfolio and re-jig the same for a better financial plan than the one you have.
Expensive insurance can be replaced for cost effective and adequate policy. A home loan interest rate can be negotiated for competitive one. Or simply sell any bad investments in order to stop further loss. Whatever be the intensity of the bad financial decision the essence is to let the bad be burnt so that good can prevail in our financial plan.
Let there be a “Shub arambh” for healthy and prosperous financial health through the means of financial planning this Dusheraa

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