Financial Tips From Holi: Colorful Holi is not only a festival of enthusiasm but the financial lessons that can be learned from it will never allow your portfolio to fade.
Financial Tips from Holi: Today is the festival of colours, Holi. Today it is being celebrated not only in India but all over the world. On this day it is customary to hug not only with friends but also with enemies. Today, on this occasion, there is a round of coloring each other and playing songs till noon and then in the evening they go to each other’s house, hug and feed gujiya-sweets. The colorful Holi is not only a festival of excitement but the financial lessons you can learn from it will never let your portfolio fade away. From Holi, you can learn many important things like keeping your capital safe, investment methods and things to be taken care of at the time of investment.
Focus on risk and return
On the day of Holi, we all take care of the safety of our skin, hair and others. Similarly, when you prepare your portfolio for investment, keep in mind how much risk you can take. Apart from this, also keep in mind that where you are investing, how much risk and return can be there. Understand this with an example that if you cannot take risk, then stay away from investing in equities and invest in bank FDs.
focus on financial goals
On Holi, when you pour color or water on someone, you keep full focus. Similarly, while investing, your focus should be completely on the goal. This is necessary for your better financial condition and financial goals like child’s education expenses, buying a house or car, retirement.
Keep portfolio diversified
As Holi is played with many colours, there should be variety in the investment portfolio as well. Instead of putting all your money in one place, invest in multiple options. You can invest your money in mutual funds, stocks, bonds, bank fixed deposits and small savings schemes by dividing your money into multiple parts according to your risk appetite and assets.
be patient
Holi is not only a festival of colors but also of sweets like Gujiya, Malpua. They are made with great patience and hard work. Similarly, saving and investing it in the right way can help you achieve your financial goals. If you inculcate the habit of saving and investing at an early age, it will be better and you will get more benefits.
Review is necessary from time to time
Holi is celebrated as the victory of good over evil. On this day we introspect about our habits. Similarly, we also need to review the investment of our hard-earned money. This will keep your financial condition good for a long time. From time to time it should be seen whether your money is growing according to the target or not.
“happy Holi”
(Note: We have given the information here according to the tips given on the blogs of different brokerage houses and some banks. There is always risk in the market, so take expert opinion before investing.)
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