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This Ganesh Chaturthi, Learn These 5 Lessons on Financial Prosperity

Adhil Shetty

The festival of Ganesh Chaturthi is celebrated to mark the birth of Lord Ganesh who is considered as God of prosperity, good luck and success. Financial prosperity is of utmost important in modern day life. Being financial prosperous simply means you have the required financial wherewithal to take care of any unforeseen emergencies, maintain a good standard of life, have adequate wealth to take care of your children’s education, capability to address a medical situation and have sufficient corpus left to take care of your needs post retirement. To attain financial prosperity, one needs to have planned and disciplined investment habits.

This Ganesh Chaturthi, along with praying for your prosperity and success, follow these five lessons to become truly prosperous financially.


Budgeting is an important skill which one should learn from early age. If you don’t learn budgeting, you could face practical difficulties later in your life. It is a good habit to know your bills and how to manage them with the whatsoever available resources. Further, what is of prime importance while learning budgeting is to learn how to segregate your ‘needs’ from your ‘wants’. A right balance between the two can prove beneficial for you when you start your financial planning.

Start Early And Stay Disciplined

Starting investments at an early stage is the key to financial prosperity. This essentially means that the day you get your first pay cheque, you should start with investments to let your money grow. Stay disciplined about it. The mantra is start early, be regular and have patience. If this mantra is understood and executed well; nothing can stop you from becoming financially successful.

Be Long-term And Goal-focused

Always invest with a long-term strategy. Never take short-cuts to try to create wealth at a disproportionately rapid pace. A long-term investment strategy requires you to have financial goals in life. The goals could range from owning a car to buying a house, saving for your marriage to children’s education, addressing your health concerns to retirement planning; among many others. All investments need to be goal-based with proper financial advisory.

Asset Allocation

Asset allocation is another important parameter in financial prosperity. You need to define your needs and thereby choose suitable products for the same. For instance, insurance has an equally essential role to play as is of investment. Insurance products like a health cover come as a saviour during medical emergencies and help you deal with rising medical cost. On the other hand, investment products help you create wealth in the long-term. It is advisable to allocate funds to different financial products in suitable proportion to keep yourself stress-free. Further, you should avoid putting all eggs in the same basket as you run the risk of concentration in one asset class. It is preferable not to develop a special affinity for a specific asset class – be it equity, debt, real estate or gold. You should allocate your hard-earned money in suitable proportion in all asset classes given your age and your risk-taking appetite.

Power Of Compounding

Compounding is nothing less than a wonder. One who understands this at an early stage is poised to reap heavy benefits. Simply put, compounding is a mechanism wherein you earn interest on the so far earned interest. For instance, if you invest Rs. 100 with compounding interest of, say, 10%, for three years, you will end up with a maturity amount of Rs. 133.10. In the first year your principle amount increases to Rs. 110; in the second consecutive year you will earn 10% return not on your original principle sum of Rs. 100 but on Rs. 110. This will push the value of your investment to Rs. 121 after two years and subsequently to Rs. 133.1 at the end of third year of investment. In absolute term it is a return of 33.1%, though the interest per year was only 10%. This is the power of compounding which lets you earn interest on the interest earned as well. Remember, the longer you stay invested, higher is the impact of compounding and larger the corpus thus made. is a leading online marketplace in India that helps consumers compare and apply for credit cardpersonal loanhome loancar loan, and insurance.