Influencing Finance Lessons from Navaratri Festival

Navaratri, an Indian festival celebrating the forms of goddess and different emotions, might not seem to have much relation to finances. But CA Rachana Ranade argues otherwise in this transcript. Through each day of Navaratri, or nine nights, different emotions or 'rasas' are observed, each of which bear significance to personal financial management. Let's dive into these in detail, and correlate the ways they come into play:

1. Shringar Ras: Love for Finance

• Everyone appreciates beauty - in people, art, or even finances. This expression of adoration is Shringar Ras.
• Finances deserve appreciation too because of how effectively they can influence stability in life and relationships.
• Managing finances can be seen as an art, and its beauty is in its potential for growth and stability.

2. Hasya Ras: The Joy of Saving

• The joy when a salary gets credited is the essence of Hasya Ras.
• Joy turns to despair by end of the month when most people have little left to spend.
• To maintain this joy throughout, one must instill financial discipline.
• The principle to follow is: income minus saving equals expenditure.

3. Karuna Ras: Compassion through Donation

• Karuna Ras is compassion, relating to understanding and relieving the suffering of others.
• Donating time or money can show compassion towards others.
• Even contributing as little as 1% of earnings can start a habit of donation.

4. Roudra Ras: Anger & Financial Decisions

• Roudra Ras or anger can pose danger to financial decisions.
• Decisions made in anger or resentment can lead to losses and bad investments.
• It's best to remain calm and collected when making financial choices.

5. Veer Ras: Courage & Financial Equality

• Veer Ras is about courage and taking risks.
• If one demands equality in all areas of life, that must include finances too.
• Don't be afraid to venture out of traditional safety zones like FDs and Gold, and consider investments like SIPs in mutual funds.

6. Bhaya Ras: The Fear of Loss

• Bhaya Ras refers to the fear of losing something important.
• Protecting against financial risks can be achieved by taking appropriate insurances.

7. Bhibhastya Ras: Disgust & Financial Planning

• Bhibhastya Ras is about disgust or shocking incidents.
• A situation of financial waste or misuse can cause this feeling of disgust.
• To avoid such situations, having a clear financial plan and sticking to it is essential.

8. Adbhut Ras: The Wonder of Compounding

• Adbhut Ras is the feeling of wonder or amazement.
• The idea of compounding in finance is a perfect example of this, mirroring the effect of time and patience in successfully growing one's investments.

9. Shant Ras: Peace & Financial Decisions

• Shant Ras pertains to peace and tranquility.
• When it comes to finances, important decisions should be peace of mind and calmness.
• Still waters run deep, as the saying goes, and a calm mind can make the best decisions.

Just as Navaratri brings in variety of experiences in nine nights, personal financial management also means playing with different emotions and mastering them. The key takeaways revolve around appreciating financial beauty, maintaining financial discipline, demonstrating compassion, managing anger, taking on challenges, safeguarding against loss, planning wisely, and valuing steadiness.