Money Lessons : We can learn from HOLI

Holi: The festival of colours, is celebrated across the country with colours of faces and love in the heart. The festival has lots of importance and signifies the triumph of good versus evil.

Holi is celebrated two days, of which the first day is Holika Dahan which is followed by Rangwali Holi on the second day. We all love this festival and celebrate it with full joy, the festival teaches us a lot of lessons, let us learn few of them in this post.

 

Remove the evils of investment

Holi is known to be a celebration of the victory of good over evil which is significant to Holika Dahan. It goes back to the event of King Hiranyakashyapu ordering his sister Holika (who has the power of defying death by fire), to enter a burning pyre with his son Prahlad since he chose to worship Lord Vishnu, instead of his father. When Holika entered the burning pyre with her nephew Prahlad, the unexpected happened. Holika was burnt to ash, while Prahlad survived. Hence, the triumph of good over evil. Similarly, for our investments too, we should prevent mistakes that can hinder the growth of our wealth or pose as a hindrance on our wealth creation journey, such as insufficient knowledge, hasty redemption, reacting to rumours, sporadic investment and timing the market etc. We should also remove our costly and unnecessary debts to make our wealth more effective.

 

Diversify your investments like Holi Colours

Holi is the festival of colours which we celebrate with various colours. The various type of colours adds to the festive zeal and makes the celebration enjoyable. Similarly, in the investment space too; a proper approach of optimal diversification in various asset classes under the investment portfolio could lead to higher yield of returns and also diversify the risks involved and also the optimization of tax outflows. 

 

Always play safe to avoid risks

The enthusiasm of Holi should go along with adequate precautions. Like in any festival, we should play safe. Ideally, using organic colours that are not hazardous to skin, organs or wellbeing with least effect on health can be a better way to play safe and joyous Holi. We can make the festival and celebration memorable for years to come if we take proper precautions. Similarly, it is better to invest if we know about the products well or else can take the help of a financial expert who is proficient in this particular subject, to have the least effect on the wealth. Likewise, one should invest in properly regulated and transparent products as they help better in wealth creation journey.

 

Enjoy the sweetness of your investments

Holi is not just known for its colours and pomp, but also for the exclusiveness of desserts such as ‘Gujiya’ and ‘Thandai’ Making of these sweets is not instant; but takes time. Similarly, to make our investments grow and give good returns we need to make a sweet choice of staying invested, as wealth creation does not happen overnight or in few weeks. If we stay patient and persistent, we will reap the sweetness of your investments.

It's good to catch up with your investments

“Bura Naa Maano Holi hai” is the most popular tag in Holi. As this is the day when people look forward to put their past behind, forget all differences and build new relations. We all gather with friends and family to celebrate it with smiles and laughter. Similarly, we should also periodically review our investments finances. Analyse the performance of the various investments which were earlier not performing and whether or not they are still aligned to our financial goals and identify the requirement of including new products to the portfolio.