The Navratri season is just round the corner and it is the first festive celebration to be ready for. This marks the beginning of the festive season and a warm welcome of winters. But apart from all the fun, excitement and singing, why is so important to handle your finances well? Your hard earned money should never be compromised at a cost and it’s especially during this season when you loosen up your finances a bit. We will tell you why this shouldn’t be the case and how it impacts your future. Let’s quickly take a look:
5 Best Way to Deal With Finances
- SELF-DISCIPLINE– We celebrate the festival of 9 Navratras by fasting and giving up on our favorite meals. This process needs control and the ability to not give in to the temptations. Similarly, financial planning can be effective only by making small sacrifices that are a trade-off for our future’s security. Planning for financial security is imperative and discipline is the only doctrine to achieve it. Keep your spending under check & stick to your budget.
- MAKE WISE INVESTMENTS– No Indian Festival is complete without a box of tempting and delicious sweets. These festival savories carry some special and sweet lessons too! Unless you have gone horribly wrong with your investments, chances are that you have made a neat kitty of gains. If that is the case, just as you reward yourself by indulging in some sweets this Navratri, do give yourself a small reward by booking partial profits and perhaps buying that smartphone you have been eyeing for so long or take a long cherished vacation with your family. However, keep your whims & fancies limited to your pocket. And if you anyway go overboard, try to minimize spending with savings, rather opt for a Home Credit Personal Loan. This should only be your saving grace!
- ASSUME A FRESH OUTLOOK– Decisions on financial matters cannot be taken on impulse and are best made when planned in advance. Early financial planning can bring a windfall of benefits in the form of small savings with incremental value of compounding. Irrespective of your past financial decisions, make this Navratri an occasion to start financial planning.
- GET RID OF BAD DEBTS– Just as you clean your homes on Navratri and Diwali, rejoice in the tradition of playing Garba & pledge to clean out bad debts which is negatively impacting your CIBIL Score. Make a list of all the things you can do to clean your portfolio and think of ways to repay your high interest debt first. Cleaning your portfolio could be tough, but pledge to embark on this journey & make Navratra full of joy & happiness. And paying off bad debts that are weighing you down.
- GET RID OF BAD DECISIONS– Navratri is the right occasion to track your budget and finances. You need to make sure that your negative investment decisions are not repeated in the near future. Whatever be the severity of the bad financial decision, the essence is to let the bad be burnt so that good can prevail in your financial plan. Let there be a “Shubh Aarambh” for the next financial year starting this Navratri.
Calculate your savings well & take a prudent choice on taking quick loans to lower debt burden.
Also read: Financial Crisis? Mini Cash Loan is all you Need!
