The arrival of the Hindu New Year which is popularly known and celebrated in South India as Ugadi, has deep spiritual roots. The word Ugadi is derived from two Sanskrit words – ‘Yuga’ which means ‘age’ and ‘adi’ which means ‘beginning’. To sum it up, Ugadi means ‘the beginning of a new age or era’.
The period leading up to the Hindu New Year is a time to set many things right which starts with thorough housecleaning, paying off debts, returning borrowed objects, reflecting on one’s shortcomings, mending quarrels, giving alms, making new goals and targets, making financial plans for the year ahead, planning/reviewing financial investments etc.
Very conveniently every year, the Hindu New Year’s Day i.e. Ugadi falls around end March or sometime during early April, thus coinciding with the Financial Year Ending i.e. 31st March. As we are all aware, the financial year ending marks the end of the financial year for companies, with accounting books closed and financial reports prepared for filing.
Financial Year-Ends can be a financially stress-full time!
Most of us face financial constraints typically at this time of the year as one has to manage tax payments, manage funds for children’s school fees for the forthcoming year etc. For those parents who need to cater to children’s school expenses, April is the month when payments to schools need to be made. Also there are additional expenses like purchase of books, uniforms etc for the new academic year.
Since April-May is the vacation time for kids, most families also want to utilize this time to take a holiday and one has to find enough money for all these. This period can turn out to be quite frustrating and stressful if people don’t plan for all these requirements well in advance. Planning your finances to avoid shortage of funds at this specific period of time would be wise.
It is also recommended that one reviews their financial plans well in advance to take stock of where he/she stands in view of their relation with their goals. If new financial goals have emerged, now is the time (also an auspicious one) to make fresh investments.
Start the New Year with a resolution to Plan – Save – Invest!
The beginning of April marks the beginning of a fresh year where things are started afresh. Chit funds come as a convenient option here because enrolling into new chit fund schemes by picking the one most suitable would be a wise choice.
One can plan in advance to have the required funds needed for a specific time (for eg. March/April) when taxes need to be paid, school payments due, or taking that much longed for vacation. Chit funds can be a reliable source of funds to meet any requirement or emergency.
It is also a saving and can be planned for a specific requirement. Investment in chits is ideal and also means less worry to an individual as one needn’t have worries about global instability, market volatility and interest rate concerns.
We already know how convenient it is to enroll in a chit and how little a risk is involved when an investment in a registered chit fund company is made. It is indeed a smart move considering the fact that chits offer tremendous flexibility to the investor. They don’t require much paper work and have very few formalities to be completed. Added to this is the benefit that one stands to gain by getting attractive dividends month after month.
To sum it up, this is the right time to understand financial requirements, pick out the category of chit one finds suitable and enroll. A new member should select a scheme most suitable to him and keep in mind the time span and the amount he can afford to invest. Enrollment into a chit with a reputed company like Shanthala Chits, who has earned goodwill in the investment arena, would do a load of good to a new investor. Stringently regulated under the Registrar of Chits and having a good track record since decades, Shanthala Chits has just not given sporadic bouts of good performance, but has shown excellent consistency in good performance, proved highly trustworthy and has earned a high reputation by their clients for prompt payments and excellent service.
This festive season, visit Shanthala Chits to make your Ugadi brim with a harvest of money, prosperity, health and happiness. Let’s welcome Ugadi with new aspirations, new hope, peace and warmth.
Wishing you all a Happy and Prosperous New Year!!
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