India is a land of varieties of festivals of different religions, and Makar Sankranti is one of these festivals, when we find Indian sky, filled with colorful kites. Most of the Indians celebrate this carnival by flying kites and with different other activities. Different Indian states call Makar Sankranti in various names, In Gujarat, it is Uttarayan, while in Punjab this is Maghi. We have a strong belief that celebration of this festival helps in keeping up the joy in life. However, how do you ensure this bliss and joy throughout a year?
Finance is one of the most important factors in our life. The right management of your personal finance helps you in staying financially secure. You know that kite flying is common in Sankranti. Let us now see how this kite-flying festival inspires you in managing your finance rightly.
Maintain your uniqueness- Never try to imitate others-
You enjoy flying kites with a group of friends and relatives. Some of your friends may have bought bird-shaped kites. Why should you follow them fully? Your preference can be different, and you can fly a kite of diamond shape or of any other look.
Similarly, in the financial world, you may not always need to invest on the Mutual Funds like that of other family members. You can choose a fund that fits you best.
Diversity and variety result in better output–
How will you feel when all your kites are of same color and look? While you are flying the kites of different shades, styles or sizes, the sky looks beautiful.
Apply this trick of diversity to the field of personal finance. You have to make various amounts of investments in different classes of assets.
Rely on one that fits you best–
While buying kites, you find various choices of material, size, shape and design. You pick the right one, assessing all these aspects
Now, in the financial fields, you may choose an investment product, focusing on the goals, tax requirement and liquidity.
Take risk- Get fun-
Wind flows in different directions, and it affects the way your kite is flying in the sky. You always have a risk that your kite can get cut. However, after overcoming this issue, you have fun.
Similarly, in the field of investment, the smartest trick is to take risk for earning more.
Balance is always essential–
When any of the sides or part of your kite becomes torn, you will not be able to fly it. This kite will start falling down from the sky. Balance of both the sides of a kite is must.
As an investor, you can try to sustain the balance of your investment on various types of assets.
Insure the uncertainly of life with proper cover
It is an eternal truth that whatever starts on this earth should come to an end. When we fly kites in the sky, it should be cut by some other kite at some point. In the sky when there is low pressure in the atmosphere , it also comes down. And hence the journey of the kite will come to an end. In a similar way, our life is uncertain too. It is associated mainly with three risks- death, disease and disability. Insure these 3 evils with adequate insurance cover.
- You take various steps to fly your kite successfully for a longer period. You can relate every activity to the financial field.
- Choosing the right kanni means setting the appropriate goal.
- Choice of the best thread denotes the selection of right asset class.
- Flying the kite to the right direction indicates your ability to set investment direction
- Your decision on thread quantity is like your budget creation
- Fly the kite to a short or long distance, and set the limit to your investment
Thus, kite flying in Makar Sankranti is not just a festival for fun. You can find its relevance in your real life. You will gain valuable lessons from it to create the best financial scheme for your own profit. Make your financial position stable, and increase your credit score. Enjoy Makar Sankranti in this year, fly your kites and set your financial goals.