9 important Investment Lessons to Learn from Navadurga
Indian festivals represent a unique combination celebration and life lessons. Navratri is a time of festivity and religious observance. Navratri means 'nine nights' and signifies how good triumphs over evil. During these nine nights, people worship the nine forms of Goddess Durga. These nine days of Navratri are considered auspicious. People who believe in luck invests their money during such festivals.
Every avatar of Goddess is known to bless us with one quality each which may guide us to learn how to survive various aspects of life, including financial challenges. In this article, we will explore the different characteristics of Navdurga and the 9 key financial lessons we can learn this Navratri:
1. Shailputri- Set smart financial goals
On Day 1 we pray to devi Shailputri. Shailputri was the daughter of Himalayas; she is also referred as Shakti, Parvati, and Hemavati. Shailputri embodies dedication, strength, and spiritual awakening. This avatar teaches us to be dedication and discipline it takes to create wealth. Hence it is important that investors develop their investment plans in a manner that will help them avoid losses and therefore maximize wealth. Gain the financial knowledge to construct a financial portfolio and execute your personalised financial plan.
2. Brahmacharini - Developing discipline
Brahmacharini symbolizes the power of mind over matter. Devi Brahmacharini stands for the eternal quest for knowledge. This avatar of the goddess teaches us the virtue of delayed gratification, how to rise above behavioural biases and overcome greed and fear. Based on your financial plan, you can chart out an effective investment strategy that can achieve optimal risk-adjusted returns. There is no better way to secure one's financial future than knowing how to invest. So, if you aim to handle your hard-earned money prudently, developing mental discipline is an essential factor.
3. Chandra ghanta - Stay focused on your wealth creation journey
The avatar Chandra ghanta represents clarity, vigilance, being ever prepared to battle any crisis, and divine foresight. In the same way you can safeguard your investments by being vigilant, staying informed about global and national events, updated about financial news and reforms. Investors need to aim a robust financial plan and stay focused on investment strategy. Every risk should be calculated to avoid unwanted losses.
4. Kushmanda - Effective financial planning
The avatar Kushmanda brought light into the dark world. Devi Kushmanda stands for the energy of all forms. Taking better financial decisions that will have long term gains requires one to be enthusiastic and energetic with a long-term view of financial planning. Investors need to create an effective financial plan that draws light on your financial management. And allows a better control of your finances to create a wealthy corpus for a secure financial future.
5. Skand Mata - Make informed financial decisions
Skanda Mata stands for divine purity. To be in the pure form also means to be in the basic or principal form. The goddess teaches us how to make informed financial decisions with adequate knowledge. Avoid making influential decisions based on any behavioural biases such as the herd mentality bias. While investing, be mindful of the investment avenues and asset mix, recognise your risk appetite and investment horizon.
6. Katyayini - Empower yourself with financial knowledge
The avatar Katyayini is fearsome as she stands for channelling emotions in the right direction. The goddess uses her powers to slay the demon Mahisasur, you should also empower yourself with financial knowledge. Financial knowledge helps you stay updated with financial developments help you to make right decisions. Financial decisions cannot be driven with emotions it should be based on logic and facts.
7. Kaalratri - Review and Rebalance your portfolio
Kaalratri stands for power or strengths and is considered the destroyer of all evils. Similarly, you may be required to eliminate your unworthy and underperforming investments that weakens the performance of your portfolio. So, remove non-performers from your portfolio and avoid falling prey to emotional biases when eliminating the underperforming assets.
8. Mahagauri - Reduce your debts
Mahagauri is the incarnation of the goddess who stands for hope. This avatar symbolizes of starting again on a clean slate. You may have taken some bad financial decisions in the past, which created a debt burden. However, the goddess enlightens you with the grace so that you can always learn from your mistakes and resolve them. Repay your all the debt and maintain a respectable credit score.
9. Siddhidatri - Prepare for unforeseeable events
Siddhidatri is the bestower of 'Sidhi' or all well-being. She stands for ambitions and dreaming big. However, merely being ambitious is not enough when it comes to our financial goals. It is important to have a well-researched and planned approach towards one’s financial goals, otherwise, they might get lost on the way. Hence, it is always advisable to speak to a financial advisor who would guide you through your financial ambitions with the right resources.
Conclusion: -
Nine days of Navratri festival teaches us about the importance of investing and how it can change our life. This will be a valuable addition to your celebration plans with your loved ones. Just like you enjoy by dressing up in nine different colours during Navratri and do fasting, you should also aim to follow the above financial lessons for your financial well-being. Therefore, we hope that each day of Navratri inspires you to get closer to your financial goals by making better financial decisions. Do consult your financial advisor to make decisions more wisely. Happy Navratri and Happy Investing.
*Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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