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7 Financial Lessons We Can Learn from the Epic Story of Ramayan
Given the current economic climate, with many uncertainties and difficulties, there is concern about what the next six months may hold. It's possible...
Given the current economic climate, with many uncertainties and difficulties, there is concern about what the next six months may hold. It's possible that this is the most challenging financial phase our country has faced yet, and the lockdown measures being implemented could have significant negative consequences. However, while we can't control the outcome of these circumstances, there are financial lessons we can learn from our favorite mythology Ramayana.
Ensure Your Future:
Unlike Laxman, you cannot rely on Hanuman to bring you the Sanjeevani herb. Therefore, it is crucial to secure your life and health by obtaining insurance today.
Establish Your Budget:
Create a financial budget and set a "Laxman Rekha" to ensure you do not cross it, even when tempted by online discounts. Learn to differentiate between wants and needs and practice financial discipline.
Emergency Savings:
Just like Lord Ram's unexpected exile to the forest for 14 years, life can also throw unexpected situations at you. Therefore, it's important to have a sufficient emergency fund to manage any unforeseen circumstances that may arise.
Be Patient:
Despite facing many challenges during his 14-year 'Vanvas', including the kidnapping of Sita, he patiently waited for the right moment instead of taking shortcuts. Similarly, stay invested for the long term and avoid any temptations for quick gains. Remember, there are no shortcuts to success in financial planning.
Choose your advisors wisely:
In Ramayan, Kaikeyi took Manthara's advice which led to a series of unfortunate events. Similarly, stay away from those who try to sell your policies for their own profit and disguised distributors who pose as advisors.
Develop self-discipline:
Lord Ram's practice of "Dharma." Cultivate a habit of judicious saving, careful spending, and wise investing to establish a structured financial life.
Believe in karma :
Believe in the power of karma and keep doing good deeds. Eventually, good karma will come back to you.
