It’s Diwali time again! Houses are decorated with lights, gifts are distributed, and families meet to celebrate together. It’s basically the festive period. But it is also the annual shopping time! The time when everyone shops and spends lavishly. There’s discount everywhere. People buy new appliances and bring new things home. But with the shopping comes a headache of eating out on the funds due to extra expenses. Basically, people love to spend a fortune on all these and regret later about the same.
Can you avoid shopping during Diwali?
With shopping comes extra expenses. But does that mean one shouldn’t shop and take advantage of the discounts available? Well, no. It’s the festive time and shopping is somewhat unavoidable. But practicing impulsive shopping is something that is not recommended. Create a shopping list and shop only what’s needed. Choose cheaper gifting options or stick to DIY gifts. They reduce the cost a lot more than expected. Buying new things like an air conditioner, or a washing machine due to huge discounts on them is somewhat a wise decision. But buying an expensive phone when you already have a phone which is in good condition is a big no-no! Buying something because there is a huge discount on it, even if you don’t need is something you can avoid this festive season.
Why such huge discounts?
Why do companies give huge discounts this time of the year? Diwali is considered the shopping season of the year, why? Well, in the olden days’ bonus for employees was given only during Diwali and it’s the time when liquidity is high for people. Marketers used this as a way to sell more products and offer discounts and launch new products. Even after the practice of giving bonus during Diwali is not being practiced much, the tradition of shopping is carried forward every year. There are still people who postpone their purchases until Diwali. E-commerce has taken over the market and is offering huge discounts during this time of the year in particular. Online shopping has made shopping way too easier and people with just a click of a button can add products to their cart.
But this festive season let’s do something different. Add something else to your cart too that can make you rich. If you haven’t already guessed, I am talking about financial products (mutual funds).
Investing in Mutual Funds this Diwali
What can be a more auspicious time than Diwali to earn more money when goddess Lakshmi is worshipped? While shopping during Diwali is unavoidable, adding something to your cart that can make you rich is a must do! Investing in financial products can only make you richer. This is only expense during this festive season that will make you rich and will be totally worth it few years down the line.
While buying gold is good, investing in financial securities like mutual funds can earn you better returns than gold. Few of the top businesses in India, though public, are family-owned/run businesses. Diwali is still considered an auspicious time to announce positive news about the company, launch new products or take new decisions for the business will increase the value of the investment by an immense margin in the future. With the returns earned through these investments you surely can have lavish celebrations in the future for every Diwali without thinking about spending all your savings. Why just Diwali, the returns earned can assist you with any expenditure like a vacation or a milestone celebration.
Investing in mutual funds isn’t a tedious task. It’s as easy as online shopping. Add the mutual funds you want to invest in a cart and you are good to go. But with this shopping, you can get expert advice. At Upwardly we tell you how much to invest and where to invest. We also rank top mutual funds and have pre-built portfolios. We also offer custom-made portfolios based on your financial ability and risk appetite. All you have to do is decide if you want to invest monthly through SIP or a lump sum amount.
So why not spend money to get rich! And what is a better time than Diwali! Invite Goddess Lakshmi home by starting your investing journey!
Psst: Now you know what to do with the cash gifts you receive during Diwali!