Light Up Your Diwali with Diyas, Rangoli and Financial Planning

Light Up Your Diwali with Diyas, Rangoli and Financial Planning

Diwali is just around the corner and like every year, many of us are trying ways of making it special. For example, our friend, Rishi.

Rishi has just received his Diwali bonus and wants to plan a good Diwali gift for his wife. When he took her out for shopping, his wife, Meera, suddenly asked, “Why are you spending so much money on Diwali shopping?”

Rishi comforted her, saying “Oh come on, Meera! The entire year was tough for us, so I just want to make it special for you.” Do you also relate with Rishi? Many of us do!

Light the Lamps of Investment Planning this Diwali

An inclination towards investing huge amounts on Diwali gifts, is not just the case with Rishi. Many of us share this desire of lighting up Diwali for our family with gifts of their choices. While we consider buying new clothes, jewellery, household appliances, etc. how about also doing some investment planning this Diwali? Especially going by our learnings from the pandemic, having enough emergency savings is just what we need! So, let us look at 5 interesting ways in which financial planning can benefit you this Diwali - 

• Grow Your Savings

In most families, the Goddess of Wealth, Lakshmi Ji is worshipped on Diwali. Devotees seek her blessings for wealth and prosperity. Life insurance plans enable you to do just this, in the form of ULIPs! Such products open the window for you to grow your savings. So, this Diwali, plan to grow your wealth by choosing Edelweiss Life – Wealth Secure+.

• Financial Enlightenment

Diwali is celebrated on a new-moon day and the lighting of lamps indicates demolition of darkness and evil. Similarly, identifying and eliminating financial mistakes can help you secure your future goals. For instance, if you are a last-minute taxpayer, you may consider to change that by spreading out your tax planning round the year.

• Fund Allocation

All Indian festivities, especially Diwali, witnesses astonishing amounts being splurged on sweets, flowers, decoration, food, firecrackers etc. You can avoid over-spending by pre-allocating your funds for such discretionary expenses.

By staying invested in plans such as Edelweiss Life – Wealth Secure+, you will be able to get into a practice of financial planning. Such plans allow you to invest in your choice of fund(s), and that too in any proportion you like.

• Gift a Term Insurance Plan

For most of us, we plan grand Diwali gifts because we want to see our family happy in every little way. We aspire to create a smooth and hassle-free lifestyle for them as far as possible.

This Diwali, consider doing the same, differently! Gift your family a term insurance plan to secure their financial future in case of unforeseen circumstances.

• Start a Regular Income

We have seen havoc market conditions resulting in pay cuts and a surge in jobseekers, in the past few years. So, it’s wise to opt for a guaranteed and regular income so that it can protect you amidst challenging times.

For instance, a regular income plan like Edelweiss Life – Guaranteed Income STAR. With it, you can start receiving your additional income from second policy year onwards. It offers several other benefit options such as regular guaranteed income, life cover and tax benefits that you can avail to enhance your financial security.

Make Your Diwali 2022 Special!

Diwali is a great time for reassessing your savings and goals. It is an ideal time to identify the way forward with your personal financial planning.

You could seek the assistance of an experienced financial planner to give you comprehensive guidance on investment planning. These have really helped Rishi! He has even lit the lamps of financial planning this Diwali, which made Meera happier than ever.

So, may the lights of Diwali guide you in making the right decisions and destroy the darkness of uncertainties.  Edelweiss Life Life wishes you and your family a very Happy Diwali!

 

Aastha Mestry - Portfolio Manager 

An Author and a Full-Time Portfolio Manager, Aastha has 6 years of experience working in the Insurance Industry with businesses globally. With a profound interest in traveling, Aastha also loves to blog in her free time.