The KING OF FESTIVALS ‘Diwali’ is around the corner and signifies the victory of good over evil, faithfulness over treachery, knowledge over ignorance, and light over darkness. It is a festival of great significance for most of the folks because this festival marks a new beginning for all of them. Diwali is the most marketed Indian festival. It is also a time of lucrative offers.
Every other year you have been spending money on Diwali. You have been buying expensive gifts, crackers, new clothes, and sweets. The festival is all about appeasing the Goddess Lakshmi by celebrating Wealth. But there is a million dollar question. Is spending too much money on crackers is really the correct way of celebrating Diwali or inviting Wealth to your homes?
Confused? Well, we intend to invite wealth to our homes but we end up only being a spendthrift every Diwali.
Well, it’s not your fault. Everybody including me has been celebrating Diwali by spending a lot of money. Last year, I calculated the expenses that I incurred on Diwali and to my utter surprise; I found that I have spent an amount equal to my three months’ salary! This left me pondering on the way we celebrate Diwali. I concluded the best way we can pay our respect and offer our prayers to Goddess Lakshmi would be investing rather than spending.
I have decided to take 5 resolutions this Diwali.
1. Invest in Mutual Funds rather than spending on crackers – I have been a big fan of crackers, but no more. Last year I spent at least 15000 rupees on bursting crackers. Realizing that the bursting of money in flames is nothing but a waste and that I could have invested this amount in better avenues, I have decided I will invest the same amount in Mutual Funds through SIP from this Dhanteras.
2. Trimming Our Shopping Budget – Last year my family spent somewhere around 60,000 on shopping. I realized we have shopped things we don’t require. I bought branded Kurta Pajamas which I could hardly wear. I haven’t worn it after the last Diwali. My Wife bought an electric Steamer and Kettle, but we haven’t used it more than once in a whole year! There were other items too that we bought but they were of not much use to us. We have decided we will invest the same amount via monthly SIP of rupees 5000 in Mutual Funds.
3. Halfing Our Sweet Tooth – Last year my family spent 10000 rupees on sweets alone and 5000 on snacks for the 5-day festival! Little did we realize that it will only result in weight gain. This time I have decided to trim it down to half and invest the remaining as a lump sum amount for my sweet daughter in a Mutual Fund.
4. No to Gold But Yes to Gold ETF Mutual – There is a tradition in my family to buy Gold every Dhanteras. Last year I realized my bank locker has too much of Physical Gold that included my wife’s jewelry and Gold Coins. I spent a whopping 1.6 lakhs on buying jewelry set for my wife. However, I will invest the same amount in Gold ETF rather than physical Gold .
5. Ensure Wealth Creation by Saving – There are multiple miscellaneous expenses every Diwali. Proper Planning and celebrating Diwali together can bring down those expenses. After all my three siblings were married off, we were all busy celebrating Diwali in our own Homes with our families away from our Parents living in Village from past 3-4 years. I realized we were missing something and spending more. This year we have decided to celebrate Diwali together and bring down cost. This will also ensure a much happier and warmer Diwali!
On this pious occasion of Diwali, Swaraj Wealth launched an investors awareness program “Deep Jalte Rahe SIP Chalte Rahe” to encourage investors for investing in SIP. It will be a great opportunity for investors like us to create wealth and plan for a better tomorrow by investing in Mutual Funds.
HAPPY DIWALI! HAPPY SAVINGS! HAPPY INVESTMENTS!
