Diwali is a festival of light, love and gaiety. It is a symbol of victory over darkness. On the day of Diwali, Lord Rama and Sita returned to Ayodhya after fourteen years of exile. To celebrate his return, the people of Ayodhya lit diyas and that is why even today we observe the same rituals across the country. However, this is not the only connection of Ramayana with Diwali. The Ramayana, one of the oldest Indian texts, also teaches valuable lessons on finance that can be used to improve financial planning and management to achieve long-term wealth creation.
Make economic discipline your religion: “Dharma”, which means to be honest, responsible and disciplined in life. Lord Rama followed this principle of ethics, which can be applied to your financial planning and management as well. “You must save wisely, spend carefully and invest smartly to lead a disciplined and prosperous life. It is essential to have an efficient financial plan that balances the surplus in the income flow between the outflow of expenses and repayments. Anoop Bansal, Chief Business Officer, Scripbox said.
Make Ram Setu of Your Finances: Small and steady steps can take you a long way. Building small but consistent financial habits builds a solid bridge to financial well-being and wealth creation. Ram Setu was not built overnight. Take small steps to achieve your financial goals, diversify your investments across asset classes, save and invest regularly and seek expert opinion. Says Bansal, “You can make as small an investment (SIP) as you can and be consistent to benefit from compounding and build wealth. Remember that financial planning is a journey.”
What shines is not gold: Maricha was Ravana’s maternal uncle who disguised as a golden deer to kidnap Sita for Ravana. Mohit Sita in the form of a deer appealed to Rama to get the deer. A takeaway from this point would be not to invest based on preconceived notions and greed. Investment plays an important role in planning finances and building wealth. Always keep in mind that not every investment opportunity is a golden deer. Think twice about your investment decisions, research them thoroughly and make wise choices.
Draw Lakshman Rekha and protect your hard earned money: Ramayan teaches you to create your own “Lakshman Rekha” to manage your finances efficiently. Bansal said, “This Lakshman Rekha can be your budget; Various asset allocation approaches like 50:30:20 Towards Equity: Debt: Gold, helps you stay in line with your spending, savings and investments. Your investment portfolio It is also important from the perspective of manufacturing. It teaches you not to exceed the level of risk tolerance. You should take the risk that you can afford and align with your risk-to-reward ratio.”
Find Your Vashishtha – A Financial Advisor: The role of Vashistha Muni is important in the life of Lord Rama. He guided Lord Rama in every phase of his life. There is no substitute for taking guidance and advice from a guru or expert. “In today’s time when everything is available online, you need proper guidance to know how you should plan your finances and more importantly keep them afloat. Expertise and experience are two irreplaceable things that make all the difference. Thus, looking for a financial advisor holds importance in reaching your goals and planning finances efficiently,” Bansal said.
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