Financial Tips From Holi: Every year the festival of colors is celebrated all over the country with great pomp and show. This festival has its own cultural significance. However, this time the color of Holi has faded because fear has been created among the people due to Corona epidemic. Governments have also issued guidelines regarding Holi due to Corona. This time due to Corona, the celebration of Holi will definitely fade, but the financial lessons you can learn from it will not let any economic situation fade for life. Many important things can be learned from Holi, such as keeping money safe, methods of investment and keeping in mind at the time of investment.
Capital security
On the occasion of Holi, we all take care of the safety of our skin, hair and others. Similarly, while choosing 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. It can be understood by an example that if you cannot take the risk, then stay away from investing in equity and invest in bank FDs.
Stay focused on financial goals
It is important to keep full focus while putting color or water on someone on the festival of colors Holi. Similarly, when you invest, your focus should be completely on the target. It is necessary for your financial status and betterment of your child’s education, buying a house or car, and financial goals like retirement.
Portfolios are diversified
Different colors played on Holi have their own importance, in the same way there should be variation in investment portfolio. Instead of investing your entire capital in one place, you should invest in different places. For this, one should invest in mutual funds, stocks, bonds, bank fixed deposits and small savings schemes according to their ability to take risk and asset.
Be patient
Holi is not only a festival of colors but also sweets like Gujhiya, Malpua. These sweets are made with great patience and hard work and when you eat them, you get the taste of that hard work. Likewise, saving while investing and investing it in the right way can achieve your financial goals. If you get into the habit of saving and investing at a young age, then it will be better and you will get more benefits.
Review
Holi, the festival of colors, is celebrated as the victory of good over evil. On this festival, we review and introspect about our habits. Similarly, we need to review the investment of our hard earned money. By this, your financial condition will remain good for a long time. It should be kept in view from time to time whether your investment is helping to grow the portfolio or not.
(Source: Axis Bank Blog)
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