5 Financial Lessons from Deepavali

A unique Deepavali is arriving. After a grim 8 months where people had to battle the virus pandemic, economic distress and job insecurity issues, it’s now celebration time. Deepavali is the festival of hope, of the victory of light over darkness. It also signals a season of prosperity and success.

We at Shanthala Chits take this opportunity to wish our readers and investors a very happy Deepavali. May the festival bring in cheer, happiness and a return of the good times.

Shanthala Chits firmly believes in being an equal partner in our customer’s financial growth and we have worked hard to help our customers achieve their financial goals. Whether it is a business owner, a homemaker, an IT professional or senior citizen.

Chit funds are an attractive investment destination for your financial goals – small or big. There is always a chit scheme that suits your budget. Partner with us and watch your investments grow at a healthy rate. Retain the added benefit of being able to withdraw your entire investment as soon as a need arises for you.

Shantala Chits is in the business of chit funds for over 2 decades now. We are a Government approved chit fund company with a 24 year successful track record and thousands of satisfied customers. Shanthala Chits is registered under the Chit Fund Act of 1982, Government of Karnataka. We are one of the most popular chit fund houses based out of Bengaluru, known for our customer satisfaction and secure investments.

This month we bring to you the following chit schemes

We wish to take this opportunity to share some useful tips on prudent financial management that are extremely relevant to the Deepavali festival spirit.

1. Be positive, never give up
Hope and positive thinking is the most powerful weapon against any adversity. When the going gets tough, it is very important to think of the positive things in our lives and be thankful for what we have. Good health, strong support from friends and family are the most valuable assets that any individual can possess. We can overcome any difficulties if we have these strengths to build on. So maintain a positive outlook, and make an inspired fresh start from this Deepavali. When it comes to financial planning, a healthy dose of optimism always helps. Whether it is investment in equity or property, we do it with the hope of good returns in the long term. So carefully analyse your financial options, make bold choices and hope for the best.

2. Safety is the first priority
Good food and fire crackers have come to symbolise the fun during Deepavali. But along with the pleasure of crackers comes the risk of fire accidents. So it’s extremely important to take proper precautions, keep a watchful eye of the kids and be safe. Having fun is important, but it must come with safety in mind. In the financial world, safety and focus on risk mitigation must be in built into all our decisions. Spending more than our means is a recipe for failure. Not planning for contingencies can be costly mistake when the going gets tough. Choosing risky instruments is a big No No. This is especially true when it comes to fraudulent chit funds, never put your hard earned money in dubious Ponzi schemes or unregistered chit funds. These mistakes can cost you dearly.

3. The small pleasures matter
Deepavali does not always have to be about extravagant clothes, expensive gifts or loads of fireworks. It is actually a festival that celebrates the victory of good over evil. It symbolizes the importance of love and regard for family. It is about caring and sharing. This year, many families are facing financial stress. It is perfectly OK to just spend a nice, charming day with near and dear ones. Good food, laughter and love, that’s the perfect recipe for a perfect Deepavali. These small pleasures matter a lot more than grand gestures. Even when it comes to finances, taking care to set aside money for small pleasures of today is important. Don’t lock away all your money for future use, keep aside a small sum for today’s needs too. Saving up for buying a house is important, but so is a small weekend holiday now. Finances must be clearly demarcated for both long term short term needs.

4. Planning in advance
The Dussehra – Deepavali festival season is the highlight of the Indian calendar year. Families plan well in advance about how to celebrate these two grand occasions. Even the Gods are said to have spent several days and weeks in planning and penance before destroying the evil forces. Be it Lord Rama who vanquished Ravana or Lord Krishna who eliminated Narakasura. This year however, we have had a stressful few months. Arranging the money for extra expenses that occur during this phase might be tight, if left to the last minute. With a little careful planning in advance, we can work out all the arrangements for the festivals – the religious aspects, visiting family, food, clothes and so on. If you are running your own company, a festival bonus for your employees might be a very thoughtful gesture.

5. The goodness of human nature
In the Indian tradition, the supreme God takes multiple avatars for the purpose of ridding the world from various evil forces. The goal is to protect the good and vanquish the bad. This Deepavali, let us take a pledge to follow the same guiding principle. Let us overcome the weak and negative elements within ourselves. Let us give up living extravagantly beyond our means, and getting into excessive debt. Let us care for the weak, elderly and disabled. A little bit of charity can go a long way to help the needy. Paying our taxes promptly, encouraging local businesses for the nation’s prosperity, there are several small gestures that every individual can make in their everyday life. And these would add up to the greater good of our people.

Happy Deepavali once again!

Anuradha C

Anuradha is a freelance writer cum corporate trainer in the IT/telecom domain with over 18 years experience. She served in senior technical and management positions in Huawei and TCS for 10+ years. Then gave up the traditional corporate ladder to go solo - in order to escape horrendous city traffic and to be at her own boss!
Anuradha C

Leave a Reply

Your email address will not be published. Required fields are marked *