The Indian festive season is here, and Diwali season has just begun. Diwali is characterized by lights, happiness and lot of shopping. People are usually on a shopping spree to get their hands on the dream gadget, new vehicle, clothes and many decorative items. Retailers also offer lucrative offers and schemes in the Diwali season to attract customers. The markets are well decorated, and festivity is all over in the air.
The preparation for Diwali begins weeks before the festival. People spend hours in selecting the perfect outfit for Diwali, while some of them get their homes and offices renovated. All these expenses can cost a bomb if not planned well and may lead to a financial crisis. It is necessary to select your purchases carefully and not dedicate your entire budget to decoration, clothes and others. A part of your money should be invested to reap the benefits of wealth creation.
Spending money on shopping is obviously necessary but you should prioritize your purchases and put some money in investment instruments in order to recover your expenses. You can keep the essence of Diwali intact even if you put some money in investment instruments.
1. Shopping this Diwali
The year 2020 was full of uncertainties. The outbreak of Covid-19 pandemic and the subsequent nationwide lockdown which followed has affected humans across the world. You must have waited for Diwali for getting your hands on your favorite cell phone or your dream car, but is it the right time for buying the same? It is better to prioritize your purchases and spend on essentials first.
Dealers are attracting customers by offering finance schemes on almost every other thing in the market, but at the end of the day, it will be you who will have to bear the burden of EMIs and interests. The pandemic has provided us multiple reasons for having a contingency fund and effective financial planning.
It is therefore very important to spend only on essentials and drop the ideas of sparing money for all those fancy items, at least for this year. Also, you should beware of the finance schemes. It is better to save money and buy your favorite gadget by paying full cash instead of suffering from the burden of EMIs and interest. If you are wondering how to save money for the same, let us discuss about investing your money this Diwali.
2. Investing this Diwali
Investing should be a regular habit for achieving and maintaining financial stability. It not only helps you save money but also provides you various other benefits like tax savings, compounding benefits etc. There are various investment options available for investors in the market. One of them is the Diwali Neuron.
Diwali Neuron provides you with a portfolio of 6-10 stocks which are selected based on fundamental analysis and provide you good return in the coming this year. You just need to put a portion of your Diwali expenses in creating a portfolio of stocks with Diwali Neuron. The portfolio may provide you good returns by the next Diwali and you can use the same for shopping. In this way, your principle amount is saved, and you can use only the returns for all your expenses.
Investment in equity stocks is a liquid instrument option as well. This means that you can anytime sell your stocks and convert your portfolio into cash for all those sudden expenses. It is never late to start investing, but the earlier you start the better you get and what can be a better time to plan your investment than the auspicious occasion of Diwali.
Conclusion
Diwali is incomplete without shopping, and you should definitely rush for it. But prioritizing your shopping list and avoiding some unnecessary expenses in order to invest will be a wise decision. If you are confused with your investment planning, it is recommended to get the services of a SEBI registered investment advisor, who will help you out with your investments.
Wishing you a very Happy and Prosperous Diwali!
![Shopping or Investing: What are you choosing this Diwali [2020]?](https://cdn.prod.website-files.com/593e207ebedace68bd410daa/5fb360e69585eefa349fbac0_investment-vs-shopping.png)
