Three Financial Lessons you can learn from Holi

With the arrival of spring – the season of rebirth, rejuvenation and regrowth – comes the most awaited festival of colors and love, Holi. The vibrancy of colors, laughter and love in our hearts usher in a lot of warmth and positivity in our lives. The significance of Holi is the victory of good over evil; it is a day worth rejoicing. It is the one of the most auspicious festivals for Hindus in Nepal which is celebrated by people nationwide. The full moon day (Purnima) in the month of Falgun/Chaitra of Hindu lunar-calendar is the day of Holi.

Ranging from socio-cultural, religious to financial there are various reasons on why we must heartily enjoy the festival as well as learn some significant money lessons from it. Let us have a look at the valuable lessons that can be learned and be applied in our daily lives for better and secure money management.

Make your investment portfolio as diverse as the colors of Holi

The diverse range of colors from roaring red, pretty purple, blissful blue, gorgeous green, sun- kissed yellow which we smear on each other, leaving all grudges behind. The warm climate inviting love and friendship makes Holi more entrancing and delightful. So, what can we take from the many-colored vibrancy of Holi? Diversify your investments like the wide array of colors! Diversification is a technique that reduces risk by allocating investments across various financial instruments, industries and other categories which will help balance out your entire portfolio. Diversification can help an investor manage risk and reduce the volatility of any asset’s price. The key point is to find a happy medium between risk and return which will ensure you achieve your financial goals, while still getting a goodnight’s sleep.

Play a safe Holi and play it safe with your investments

The counterbalance between having fun and playing it safe goes hand in hand. Be it the celebration of Holi, or our investments, we should always be on the safe side. Holi ignites the wild side of us but it is important not to lose ground and play safe, to protect the joy and positivity of the occasion. The festival of colors should be played with organic colors that won’t have an adverse effect on our skin, organs or wellbeing. With the on-going pandemic, we need to be far more cautious about our health than ever before and follow all the necessary safety measures. Similarly, it is smarter to choose your investments with due diligence and thoughtfulness to avoid all possible risks that may arise. While the risks are inevitable in stock market investment, following a dedicated and principled path can make sure the investment has a higher chance to stay safe and lucrative. We need to invest in those stocks or assets which are known to us and not hesitate to take assistance of financial advisors to minimize the risks, if required.

Slay the burden of bad debt:

Days before the festival of Holi people start gathering wood and combustible materials to build a pyre. On the eve of Holi, the pyre is lit, signifying Holika Dahan. The ritual symbolizes the victory of good over evil; the day to end and rid oneself of past errors; to forget, forgive and end conflicts. 

The lesson we can learn here, is to incinerate all the burdens of our bad debt. Debts such as recurring personal loans, credit cards, and mortgages can become bad debts if not managed properly and can become positively evil when the loan has a high interest. We need to start dealing with and deleting bad debts to truly get our finances in order. Hence, to avoid financial burden and all that stress, let’s pledge to clear our bad debts first by creating financial goals and prioritizing our investments. We can take inspiration from the Lola-throwers during Holi; reduce your debt in order of smallest to largest, gaining momentum as you knock out each balance. 

If we look keenly enough we can find lessons in every little thing in life it is simply about aligning your perspective; how we decide to look at it is key. In doing so, we saw that the festival of colors not only holds cultural significance but also carries major financial lessons. These lessons can be enforced in our daily life to take the financial weight off of our shoulders. So, finally it’s that time of year – Gear up! Load your water guns; fill your water balloons and your pockets with all the colors! Play a safe Holi and wash off the evil; in the meantime, remember the financial lessons we can learn from the festival.  

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