With the season of festivals approaching, the shops are brimming with a lot of activities.With a buoyant mood and tempting deals & offers, it can easily be called as the season of Euphoria. Another thing that is associated with the festive season is our belief that this period will bring upon us luck and success. Families come to dress up, decorate, celebrate and pray together. Love and blessings are passed on from elders.

The dates for festivals like Ganesh Chaturthi, Dusshera and Diwali may be decided every year based on planetary action but the monetary gains around this period also add up to the festivities. Annual bonus payouts for the salaried give higher disposable incomes. This season also marks a rise in business incomes after a monsoon lull.

Favorable Time for New Beginnings

With so much cheer and joy, this is considered an auspicious time to make beginnings that yield a beautiful tomorrow. Marriages, new business, housewarming, all occasions are timed for this part of the year.

There’s also a popular belief that making investments or buying gold during this time would bring good luck and prosperity to the family. In fact, Indian Capital Market still follows the old age ritual of Muhurat trading, an auspicious one hour trading held on the day of Diwali. Any investment done during this time is believed to bring wealth and prosperity the whole year.

While following these traditions, you should also consider the fact that regularly investing every year during this time can help you in growing and accumulating wealth over a long period which in turn can help you achieve various financial goals.

Thus, this festive season, you must invest wisely to ensure a bright financial future for you and your loved ones. Here’s how you can do this

• Buying Gold

  Almost everyone buys Gold during this period. It would be prudent to align your gold purchases with your specific financial goals like child’s marriage, gifting to a close friend/relative or simply as a part of your asset allocation. Apart from buying physical gold or gold jewellery, you can consider options like Digital gold, Gold ETFs which offer more convenience since they are easy to trade and don’t have storage or theft issues. Moreover, your money is invested in standard gold bullion of 99.5 per cent purity.

• Starting Systematic Investment Plan (SIPs):

  If you wish to start small, consider starting a SIP in a mutual fund of your choice. It can be started any time for as less as Rs. 500, instilling a financial discipline. It can be planned keeping specific goal in mind and can be redeemed when the goal is near & money is required. In fact, as SIPs are ideal instruments to plan for your investing goals, they can be multiple in numbers.

• Investing lump sum money

  If you have lumpsum money left from your festival bonus or received a cash gift from an elder, consider investing it instead of leaving it idle. It may be invested in debt funds to save for your next vacation or could be invested in equity funds for your retirement kitty. Often children also receive cash gifts from elders during festivities. This accumulated cash can also be invested in your child’s name. This way our children can also learn a few good lessons about money and investments in a practical manner.

So this festive season, invest to add some sparkle that will brighten your today & tomorrow!

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