On the auspicious occasion of Basant Panchami 2024, students and devotees of goddess Saraswati worship the almighty and seek wisdom and knowledge in the form of blessings. It is also recommended to worship the books and wear yellow clothes on Basant Panchami.
Investors can also draw some useful money lessons on this day to give an impetus to their portfolio. These are some of the money lessons one can learn on the auspicious day of Basant Panchmi 2024:
Five key money lessons to learn on Basant Panchmi 2024
1. Review your portfolio: On the occasion of Basant Panchami, devotees worship goddess Saraswati and seek her blessings to become wise and knowledgeable.
For investors also, it is recommended to review the portfolio and opt for asset reallocation, if the need so arises.
2. Auspicious day: This is a highly auspicious day, so it is considered the right time to make new beginnings such as to start a new SIP (systematic investment plan). This regular dose of investment be it weekly, monthly or fortnightly goes a long way in long-term wealth creation.
3. Best of season: Basant Panchami marks the beginning of spring, which is the king of all seasons. For investors, it is imperative to opt for the king of securities i.e., underpriced securities or value stocks which are trading lower in proportion to their fundamentals. These stocks help investors in building wealth over a long period.
4. Yellow colour: Basant Panchami is the day when people prefer to wear yellow-coloured clothes. Yellow is the colour of prosperity and growth.
For investors too, it is recommended to invest in yellow coloured assets of gold. Gold as an asset class is a safe haven and provides safety against the volatility of stocks.
5. Change of season: Basant Panchami marks the change of season. After winter comes the spring followed by summers. The change of season, as it is known, is one of the key characteristics of mother nature.
Likewise, for investors, it is vital to know that volatility is the part and parcel of the market cycle. Therefore, they should be prepared for different cycles of the market.
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Published: 14 Feb 2024, 02:58 PM IST