Mon. May 20th, 2024

From mythology to money management: Understand these 6 crucial financial lessons from Vijayadashami

Avoid unethical practices like tax evasion or money laundering, as these would ultimately result in financial loss and reputational damage.

It’s not just a time of joy and celebration but also offers a chance to learn vital financial lessons that can help manage personal finances efficiently.

Every year, Indians around the globe celebrate the festival of Dussehra or Vijayadashami, which signifies the victory of good over evil. It’s not just a time of joy and celebration but also offers a chance to learn vital financial lessons that can help manage personal finances efficiently. Here are some financial lessons that we can glean from the festival of Dussehra: 

1. Destruction of evil: As Lord Rama embodied righteousness and honesty, we should exercise the same virtues in our finances. Avoid unethical practices like tax evasion or money laundering, as these would ultimately result in financial loss and reputational damage. 

2. Importance of planning: In the epic Ramayana, Lord Rama spent an extensive exile and made strategic alliances before his victory over Ravana. This underlines the importance of financial planning. One must plan their finances carefully, considering all potential challenges. The cornerstone to financial freedom and security is planning early and wisely. 

3. Persistence and patience pay: Lord Rama remained loyal to his goals despite multiple adversities. This teaches us to stay focused and persistent towards our financial goals, whether saving for retirement, clearing out debt, or investing in a venture. Ups and downs are part of life, but one must stay committed and patient to achieve financial success. 

The power of patience that Lord Rama exhibited during his long exile period teaches us to be patient. Achieving financial goals is not an overnight objective; it requires time and patience. 

4. Seek the proper guidance: The role of Hanuman in Ramayana underpins the importance of seeking the appropriate guidance. Similarly, getting advice from financial experts or learning about best investment practices is crucial in finance. Always vet the credentials and qualifications of your financial advisor. 

5. Financial discipline: Dussehra celebrates the tenacity of Lord Rama, who stuck to his path even when difficulties surrounded it. Success in the financial journey also comes to those who maintain a disciplined saving and investing approach. 

6. Risk analysis: Lord Rama managed risk assessment by sending Hanuman for reconnaissance before the war. Similarly, understanding the risk associated with and diversifying investments can lead to better financial decisions. 

Originally Published by: Business India

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