It’s Friendship Day! The day we celebrate one of the most wonderful gifts we have been blessed with in our lives – the bond of true friendship. True friends are like walking-talking secret diaries – they know everything about us, right from our favourite games and snacks to our worst fears and most embarrassing memories. From being bench partners in school or college, to prepping you up for your first job interview, to partying hard on getting the job, they are with you always.

Having a bad day at work? Alone and bored on a grey, rainy day? There’s nothing a friend won’t fix. When it comes to sensitive topics like financial decisions or romantic relationships, you’ll often find yourself confiding in your friends rather than your immediate family, and for a good reason too.

This Friendship’s Day, let’s celebrate the support of these 24X7, never-on-leave financial aides who help make our personal finances as strong as our friendships.

1. Lesson 1: Less is More

   Don’t have enough money this month to treat your gang to the fancy meal you had promised? A small cup of chai at the roadside stall will do just fine. Most of us have learned the true meaning of “Less is More” over such cups of chai. You don’t need to spend all your hard-earned money on expensive (and sometimes unnecessary) baubles. Save first, spend sparingly.

2. Lesson 2: Put a Price to your Value

   Almost all of us have been at the receiving end of a “lecture” from our friends about short selling ourselves when it comes being paid for the work we do. While they may tease us and call us all sorts of names in jest, they can never tolerate anyone exploiting our talents and hard work. Its our friends who teach us to value and respect ourselves, and be firm about our salary expectations, without bowing down to corporate pressure.

3. Lesson 3: Dream, save, do!

   We all have that Dream Chaser gang that decides on an activity, starts saving up for it and as soon as the amount is collected, takes off to fulfill the dream – and whisk us off with them too, despite our many protests of being “very busy”. They teach us not only to have fun and relax once in a while, but also that nothing is impossible if you save for it devotedly and regularly. SIPs for dreams, anyone?

4. Lesson 3: Money Managing Manual

   A true friend is like having a step-by-step guide to financial troubleshooting. Each of us has that friend who can swing from football statistics to investment advice in the blink of an eye. Taxation issues, banking problems, the best investment options available – they know it all and guide you with unbiased transparency. They’ll also tell you about the best deals, discounts and sales in town – and if necessary, pitch in and buy something to help you get a group discount. Now that’s friendship!

So, if you consider yourself to be a finance wiz, you should probably give your friends some credit for it too! Because with them to keep an eye on your MFs – monetary fundas – you sure are richer than you would be alone.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.