9 Financial Lessons for
Ultimate Financial Well Being

Legend has it that the Goddess Durga defeated Mahishasura through nine incarnations during the nine nights of Navratri. In our land of cultural diversity, there is no other festival that resonates with such parallel reverence across all the major states. Each of the nine days of Navratri are observed with an auspicious devotion toward the divine power of Mahishasura Mardini.
While we prepare to delve into the spiritual experience of Navratri, each of the nine days also enlightens the path to our financial wellbeing. Read this blog to know how some popular Navratri traditions also connect the dots to nine best financial habits that can guide us to a better financial future.

9 Days 9 Lessons for Financial Growth

1. Discipline 
Financial discipline is the first step toward a better financial future. Just as the abstinence from worldly pleasures during Navratri feeds our soul with positivity, refraining from bad spending habits aids in achieving financial well-being. Stay away from bad habits like impulsive spending and always budget your expenses as key inclusions for a disciplined financial life. 

2. Reduce Debt/Manage Debt
Unsolicited debt is never good for overall financial wellbeing. However, your victory over the evils of debt materialize when you start paying off your existing debts. In addition, always plan your future loans and repayment options in advance to avoid accumulating unwanted debt.  

3. Plan Your Expenses
Navratri teaches us that it’s never too late for new beginnings. So why not start having a new approach to your daily spending this Navratri?
While planning high-ticket expenses are usually manageable, we often find ourselves struggling with our impulsive spending habits. Pause before tapping the “Pay Now” button and reconsider whether you actually need to spend on a purchase.

4. Save for Future
Just as Devi’s nine-days of relentless battle was crucial for the future of humanity, each penny you put into your savings fund today is crucial for a secure financial future. Having some funds stored in your savings account always comes in handy during emergency instant fund needs. In addition, you can also consider other instruments for investment that can provide returns on your savings. 

5. Invest in Yourself
Goddess Durga transitioned through nine forms to finally win over the Mahishasura. This teaches us an important lesson about transformation in life. You are your most valuable asset and investing in yourself is the only way to transform into a better version of yourself. For a better financial future, consider securing your health with a health cover and planning for your retirement with high return retirement funds today. 

6. Diversify your Finances 
Diversity is often a strength, and it is no different when it comes to managing your finances and credit profile. Even when it comes to approving your loan, lenders look for a diverse mix of credit products such as loans, credit cards, credit lines etc. Create at least one secondary source of income to augment your finances effectively.

7. Check Credit Score Periodically
Checking your credit score is a key component of overall financial discipline. Contrary to a widespread rumour, checking your credit score periodically does not affect your CIBIL or Experian score or any other credit score provided by a credit bureau. This is to ensure that you are aware of the factors that affect your score, including timely payments, credit mix, age of credit etc. You can check your latest CIBIL score for FREE using the credit score tool on the Poonawalla Fincorp website, without affecting your score.

8. Improve Financial Knowledge
The last three days of Navratri are associated with the Mahasaraswati form of the Goddess – a deity, worshipped for her association with knowledge. Similarly, financial literacy holds an important place in the journey toward financial well-being. Follow the Poonawalla Fincorp blog to never miss out on any financial concept.

9. Make Informed Decisions  
Always do your research before taking any financial decision. Even though Mahishasura was a shape shifting demon, the Goddess used the right weapon of the trident when the demon took the form of a buffalo to finally destroy it. Likewise, being well informed will not only allow us to take the right financial decisions but also plan ahead our future finances. 

To Conclude

Isn’t it overwhelming to know how Navratri has so much in store to guide us in our financial freedom journey? With these nine important financial lessons from Navratri, we are sure that this auspicious occasion will bring divine blessings for you to start a new financial journey with the teachings of Maa Durga.

Disclaimer

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