The most awaited time of the year has arrived! Yes, you guessed it right! Diwali is a festival that brings joy and happiness in our lives with a lot of learning. I heard my friends talking the other day about their Diwali preparations and it gave me something to think about!
Here is how it went:
Friend: Yaar diwali mein bohot khushi hoti hai but pocket poori Khali ho jati hai!
Me: Kyu kya hova?
Friend: Gifts, decorations, firecrackers, and then buying new clothes and shoes. Acha Dikhana bhi toh important hai na!
Me: Woh toh hai but why are you emphasizing on only these material things?
Friend: bro ajkal social media ke zamane mein you have to be “aesthetic” varna society doesn’t accept you.
Me: bro “aesthetic” ke chakkar mein don’t put a hole in your pocket, Diwali is much more than that and you can do a lot of things to make your future better!
Friend: Easy to say bro but difficult to practice
Me: Wait let me elaborate!
The Festival of Lights, Diwali, is a great time to plan and make investments in your financial future in addition to being a time for joy. We’ll look at a variety of investing methods and chances in this article so you can enjoy this holiday season to the fullest.
1. Start Planning in advance
In the same way that you get ready for the ideal Diwali celebration, you should start saving and investing as soon as possible to safeguard your financial future. Preparation for Diwali commences several months in advance, and the same holds true for financial decisions.
Here are some important things to think about:
- Determine your financial aims and aspirations.
- Examine your financial status and risk tolerance at this time.
- Invest in a variety of asset classes, including equities, bonds, and real estate, to diversify your portfolio.
2. Embrace Alternative Investment Opportunities:
The customs and practices surrounding Diwali festivities have changed throughout time, and your investing portfolio should likewise reflect these shifts in the financial landscape.1. Think about looking into non-traditional investing alternatives, such as bonds and stocks, such as alternative investments:
- Investing in real estate can yield consistent income as well as possible capital growth.
- Peer-to-peer lending has the potential to increase returns and provide diversity.
3. Educate Yourself and Others
Giving out your expertise and life lessons in the world of investing can be a kind gesture. Teach those you care about the value of having a clear financial plan, getting started early, and spreading out their assets. You will assist them to safeguard their future and improve their financial well-being by doing this.
4. Take Advantage of Market Opportunities
During Diwali, investors’ attention is focused on the Indian equity market and they want to know what’s in store for the upcoming year. During this time, keep yourself informed about the possible elements that might influence your financial decisions. For instance, the Nifty 50 index has increased by 9% since the last Diwali, demonstrating the Indian market’s incredible resiliency in the face of numerous challenges over the past year.
5. Invest in Gold and Equities
For good reason, stocks and gold are popular investment choices around Diwali. Gold ETFs and E-Gold are two examples of the several gold-based investment strategies that have been proposed. Gold has long been thought to be the ideal means to welcome Goddess Laxmi. Moreover, the stock market is always profitable during holidays, and purchasing stocks and shares has long been a customary Diwali investment.
The investing term must start before the child’s tenth birthday and last until they turn 21. This is a very useful means of guaranteeing the financial safety of our tiny goddesses.
To sum up, Diwali is a fortunate time to consider your financial objectives and choose wisely when it comes to investing. You can take full advantage of this festive season and safeguard your financial future by being proactive with your planning and investing, embracing alternative investment options, and educating yourself and others.
Do you know what’s the best thing you can do for your family this Diwali?
Finzace (formerly known as iCreditSpace) has launched Smart Saver. You can start investing with just Rs.100 and earn up to 10% returns with minimal risk and easy liquidation. It is an RBI-regulated instrument so no chance of any fraud.
So from this Diwali start trying to make your next Diwali better. Our Finzace family wishes you a very HAPPY DIWALI. May you grow for the better and spread positivity in all areas of your life personally and financially!