Navratri is the perfect time to introspect and take control of your finances

26 October, 2023

India is home to various spectacular cultural festivities and celebration, and none is more captivating and mesmerising, than the celebration of Navratri. True to its diversity, Navratri, meaning ‘nine nights’, is celebrated differently across India, but it essentially signifies how good triumphs over evil. In most notable places, it also worships the nine forms of Goddess Durga.

The festival is divided into three parts, where the initial three days are dedicated to Goddess Mahakali, who destroys all the bad within us. The next three days are dedicated to Goddess Mahalaxmi, who brings us plenty of wealth and prosperity. And the final three days are devoted to Goddess Saraswati, who inspires us and increases wisdom.

This is the perfect time for introspection and to take control of your finances. Take inspiration from Navratri and learn financial lessons to turn your financial situation around. First of all, get more organised and disciplined about your finances and get rid of any debts. Then save and invest wisely to increase your wealth. Finally, get educated financially for long-term stability and growth.

The number 9 is considered divine and magical across religions. Taking this into consideration, here are nine Navratri financial mantras everyone should follow for a happy and prosperous life:

Financial Mantra #1: Follow a disciplined approach

Planning your finances is not a magic solution. Nor will it resolve all your money issues instantly. Just as you follow a disciplined approach of fasting and abstinence during Navratri, so should you follow a disciplined and organised approach in all your financial matters. One of the best ways to enforce financial discipline is to be mindful of what you shop and take advantage of HDFC Bank offers and discounts on various brands and categories.

Financial Mantra #2: Stop creating debt

Just as Goddess Durga triumphed over evil by defeating Mahisasura, you too can triumph by eliminating bad financial decisions. Prioritise your debts by getting rid of the most burdensome ones. Switch to loans with lower interest rates and give up unnecessary Credit Cards.

Financial Mantra #3: Plan your expenses

Navratri and Vijayadashami are known to be the perfect time for new beginnings. Take control and make a new beginning by planning your expenses in advance. Start budgeting. This will also help you understand how you spend your money and allow you to make the necessary changes. Invest wisely so it generates a second passive income.

Financial Mantra #4: Save for the future

Goddess Durga fought and slew the demon Mahishasura to save the future of humanity. Likewise, you need to slay your financial demons and save for the future. It is important that you learn to live within your means and set aside some money for the future. It can be in the form of fixed deposits, some kind of emergency fund, or other investments.

Financial Mantra #5: Invest in yourself

Just as the lamp lit in front of the Goddess represents eternal divine power, you should focus on your inner power and invest in yourself. Take a health cover, get life insurance, do proper retirement planning. You can also look at improving your skills for better career prospects. There is no right time to invest; invest as early as you can.

Financial Mantra #6: Make your money work for you

Conservative financial planning may not be the best approach when planning your finances. Just as farmers plant various cereals, pulses, and other crops during this season, make your money work for you by creating a diverse portfolio of financial products.

Financial Mantra #7: Review your investments regularly

The Garba dance during Navratri represents self-realisation, which in turn epitomises the joy of the mind. If you review your investments regularly you can make any adjustments necessary to get the most out of your portfolio. This will, in turn, make you happy by giving you peace of mind and helping you relax.

Financial Mantra #8: Improve your financial knowledge

There’s a ritual of worshipping books and work tools during Navratri; similarly, you should devote some time to improve your financial knowledge. This does not mean simply studying the basics of finance but also doing research and acquiring a deeper understanding of the different investments you have made.

Financial Mantra #9: Take advice from experts

Just as we respect and revere Goddess Durga, so should we respect advice from experts. Times are changing and what worked for our parents may not necessarily work for us. It is advisable to take advice from experts rather than make mistakes that can prove expensive over time.

With a vast and varied selection of financial products under one roof, HDFC Bank can help you plan your finances better. It has facilities for opening recurring and fixed deposit accounts, apart from the normal savings account. Explore investment opportunities with the bank and choose from an array of investment products such as mutual funds, stocks, bonds, etc.

Take control of your finances by making the most of festive treats from HDFC Bank

​​​​​​​What’s more, this Navratri you can avail of numerous discounts and offers by using HDFC Bank facilities. HDFC Bank festive treats extend to a range of categories from lifestyle and furniture to travel and apparels. Here is what you can get:

  • Save up to ₹10,000 on Apple range of products with HDFC Bank Credit Cards and EasyEMI facility.  

  • Get 10% instant discount on HDFC bank Credit Cards & EasyEMI when you buy furniture and home decor items from Homecentre. 

  • Enjoy 10% instant discount on HDFC Bank Credit Cards & Credit Card EMI at Lifestyle stores on your favourite clothing. 

  • Get up to ₹7,500 CashBack on Televisions and Washing Machines at Reliance Retail ltd. 

  • Enjoy up to 10% Cashback on HDFC Bank Credit Cards & EasyEMI upon purchasing jewellery at CKC Jewellers. 

  • Enjoy up to ₹5,000 savings on HDFC Bank Credit Card on your favourite jewellery at GRT Jewellers.

HDFC Bank provides a world-class portfolio of insurance policies and services that not only safeguard your interests but ensures complete peace of mind. You get comprehensive assistance in identifying and investing in a host of life and non-life insurance policies. All the insurance plans are customisable, with affordable premiums to match.

This Navratri, resolve to take control of your finances and free yourself from the evil of bad debts!

​​​​​​​*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.