It’s time for Ganesh Chaturthi! The major religious-cultural festival in Mumbai is a 10-day celebration of the birth of Lord Ganesha.

In Hinduism, Lord Ganesha is revered as the master of knowledge, the remover of impediments (Vighnaharta), the epitome of wisdom, and the emblem of happiness (Vidya). Offerings to Lord Ganesha always kick off religious rituals in India. He has the rare honour of being known as “PrathamaPujaya” (the first lord to be worshipped). Ganesha, one of the Hindu pantheon’s most popular deities, is also called the god of prosperity and fortune.

 The occasion of Ganesh Chaturthi is ideal for picking up some of the timeless lessons that Lord Ganesha must teach. The pandemic has shadowed festivities; this year, the Maharashtra state government has established rules and placed many restrictions to stop the virus from spreading during this festival. To make this Ganesh Chaturthi meaningful during the COVID-19 pandemic’s uncertainties, let Lord Ganesha serve as your mentor for wise financial planning.

Let’s examine these financial teachings from Lord Ganesha using his distinctive demeanour and distinctive physical characteristics:

LAMBAKARNA: 

Improve your hearing abilities

Because of his large ears, which represent his capacity for listening, Lord Ganesha is given the name Lambakarna. This feature motivates you to pay attention and be open to new approaches and the flow of financial information. To learn and act appropriately, one must have wide ears open.

These days, a lot of information about the markets and other investment opportunities is readily available on a variety of platforms. Filtering the information or counsel you receive is necessary, though. When you are a novice investor, when you are struggling with a decision and are unsure of what to do, or when the market is turbulent, investing may be rather difficult. 

To make wise investment choices at this time, you should speak with a financial expert. Additionally, arm yourself with financial knowledge to become financially aware and gather useful data. Having great listening skills can help you put fresh information to use in your strategy so you may reach your financial objectives.

CHINTESHWARA – A KEEN EYE

Ganesha’s small, piercing eyes and intent look reveals a mind that is wholly committed to the objective. You must keep this targeted approach with your investment plan and, after establishing them, work toward your financial goals as you embark on your journey to building wealth.

When it comes to your investments, paying attention to the details implies that you always take note of a scheme’s distinguishing characteristics and the benefits and drawbacks of each possible route. You will be able to build an all-weather, strategically sound portfolio. You should maintain your focus and stay invested for a predetermined period to achieve the best profits.

LAMBODARAYA – The capacity to accept the risk

The enormous belly of Lord Ganesha stands for endurance and the willingness to take chances. Ganesha advises us to consume what we can afford, assess our risk tolerance, and make investments based on that assessment. When you first enter the market, think about investing systematically through SIPs and progressively increasing your investment amount over time.

Avoid investing a sizable lump sum immediately into high-risk stocks. If you invest in products above your risk tolerance due to the market’s volatility, you risk experiencing money loss. You must have the risk tolerance necessary to chew through market turbulence and absorb any poor choices.

Building an emergency fund with 12 to 24 months’ worth of costs, including loan EMIs, is one approach to constructing a safety net. Uncertain circumstances, like the current epidemic, can influence your risk tolerance and destabilise your portfolio. This emergency fund will serve as your backup strategy in a financial emergency.

VAKRATUNDAYA – Adaptability from the Trunk

Another term from Ganesha’s trunk is Vakratundaya, which stands for adaptability and flexibility. The trunk represents strength and power to carry out various delicate and difficult activities. It stands for the idea that one must have the virtue of patience to adjust to challenging circumstances because things might not always go as planned. Although market volatility can have an impact on your assets, you must remember that ultimately the clouds will part to reveal a brilliant and stunning rainbow.

This can be avoided by regularly assessing and rebalancing your investment portfolio to evaluate if its performance assists you in your quest to accumulate money. A certain amount of flexibility in terms of asset allocation, diversification, schedule modifications, and the quantity of investment is always advised if you want to maintain a strong investment portfolio.

Your financial plan must be flexible and adaptable if you want it to endure through the ups and downs of unpredictable markets and macroeconomic situations. Never forget to analyse your portfolio and keep looking for improved chances to change it effectively.

EKADANTAYA – Eliminate unworthy investments 

Ganesha sometimes referred to as Ekadantaya, has two tusks, one of which is broken. This is a representation of the tusks’ strength and power. The other tusk stands for the fortitude to pick out the undesirables, while the damaged tusk symbolises the capacity to bounce back from setbacks.

Like this, one must possess the foresight and fortitude to sell underperforming investments that limit the portfolio’s potential. If you ignore a bad investment, reaching your financial objectives will be much more difficult. Many investors are unaware that a few poor investments may impact the portfolio.

After evaluating the underperforming assets on qualitative and quantitative criteria, you need to contemplate converting your investment into respectable investment outlets.

STRENGTH OF THE AXE OF LORD GANESHA

Lord Ganesha is holding an axe in one of its four arms, which stands for the ability to eliminate all diversions and financial concerns. It advises us to avoid letting our biases or emotions influence our choice of investments.

To eliminate unwanted and negative effects, one must have the strength to make moral decisions and behave firmly. Similarly, while making financial decisions, utilise the axe of effective thinking to cut through any behavioural biases that may be present.

PRASADA – Effective Investment Planning

Following the completion of the “Puja rites,” Lord Ganesha’s favourite dish, “Modak,” is served as “Prasada” to the faithful. Once you’ve put together a strong investment portfolio as an investor, the Prasada stands for your investment’s profitable outcomes.

Like Lord Ganesha, you should keep an eye on your “Modak” (returns). Better investment planning and a clear financial objective will repay you with pleasant gains and a promising financial future. This is nothing more than the advantages of the profits from your various investment outlets or mutual funds.

GOD OF PROSPEROUS BEGINNINGS: Begin your financial journey!

As the god of new beginnings, Lord Ganesh, this Ganesh Chaturthi is a fantastic time for you to begin your financial journey.

START RIGHT AWAY!

The sooner you begin, the easier it will be to develop a sound corpus. Keep in mind that the power of compounding will cause your money to increase over time. Start saving money before you spend it and put it toward profitable investment opportunities.

Lord Ganesha serves as a reminder that each year’s festivities will begin but also come to an end. In my perspective, the “Visarjan” also teaches an essential lesson: both happy times and difficult stages do not stay forever. On the day of Visarjan, devotees say goodbye to their favourite Lord Ganesha and wait till Ganesh Chaturthi the following year.

From the financial planning perspective, there will be good times and tough times in your investment journey. As a result, you must be ready and adaptable enough with your investments to consider the shifting market conditions. Your financial strategy should be strong enough to withstand difficult times and produce the best returns during favourable market conditions.

Consider these significant investment lessons from Lord Ganesha as you celebrate Ganesh Chaturthi this year and start down the road to riches.

Greetings from Ganesh Chaturthi!