Ganesh Chaturthi 2023: 6 money lessons you can learn this festival

Ganesh Chaturthi is celebrated with great enthusiasm across India, especially in Maharashtra. But, the festival is not just a time for worship and celebrations. Lord Ganesha is also known as the lord of wisdom, prosperity, and good fortune. There are crucial financial lessons here that we can apply in our day-to-day lives. 

Here are six financial lessons you can learn from Ganesh Chaturthi 2023: 

1. Start with a clean slate: Just as we clean our homes before bringing in the Lord Ganesha, we must audit our finances regularly. Use the occasion of Ganesh Chaturthi to start afresh with your financial life. Clear your debts, pay off pending bills, and regularise your investments. 

2. Budgeting: Like other festivals, Ganesh Chaturthi involves planning and budgeting. Expenses can run high during festivals with costs for home decor, sweets, puja materials, etc. Therefore, smart budget planning can help manage expenses efficiently without hampering festival joy. Similarly, a monthly or yearly budget for personal finance can help manage money better and prepare for unforeseen expenses. 

3. Eco-friendly investments: The trend of opting for eco-friendly Ganesha idols symbolizes that one should always respect the environment. Similarly, one can consider eco-friendly investments like Green Bonds, ESG mutual funds, etc. These funds invest in companies that follow sustainable practices. However, one must always link their investments with financial goals. 

4. Don’t be compulsive: The larger and glitzier the idol, the better it may seem during the festival. But remember, happiness and blessings don’t come with the size or cost of the idol. Similarly, investing in bigger or riskier options may not always yield larger returns. Be patient and make informed decisions while investing. 

5. Insurance: The concept of ‘Visarjan’ or immersion teaches us the idea of life’s transience. It represents the cycle of creation and dissolution in the universe, reminding us of the uncertainty of life. Therefore, have an appropriate insurance cover in place to ensure your loved ones are secured in case of any eventuality. 

6. Regular investments: Lord Ganesha, also known as ‘Vighnaharta’, is the remover of obstacles. Regular investment in financial instruments like mutual funds, SIPs, etc., removes any financial obstacles in the future. Just like one should not wait a year to seek blessings from Lord Ganesha, one should not delay their investments. Start investing early and regularly to let your wealth grow and fulfil your financial goals. 

While Ganesh Chaturthi is a time for celebration and devotion, it also offers an optimum time to reflect upon and learn from Lord Ganesha’s principles. If implemented properly, these financial teachings can lead to a prosperous life, ultimately leading to financial independence.