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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Asha, the Hope, and Tai, the Elder Sister

Apr 15
3 min read

To me, the demise of Asha Bhosle signifies the "Hope of my Elder Sister." In this war-torn world, she spreads hope through her eternal longing for love in "Salona Sajan." Amid the darkness engulfing West Asia and the Middle East, Asha Tai evokes Macbeth's words: "Let not light see my dark desires." Through her melancholic and lustful "Tanha Tanha," she illuminates humanity's dark desires, while in A.R. Rahman's "Kahi Aag Lage," she cries out in fiery defiance.


To imitate human life in a futuristic world of robotics and humanoids, one must sing like Asha Bhosle, layering emotions as she did in her songs. As musicians and vocalists compete for coexistence with AI-generated voices and music, they must hum the Asha-R.D. Burman duets—manifestations of soul and blood that, like power, should not be concentrated but transcended and distributed.


Asha Tai is not merely a relic of the past; she embodies hope for a dystopian future, where lust, anger, hope, love, and desire might seem utopian amid a synthetic civilisation.


Her tenor, soprano, alap, meend, and operatic flourishes once echoed in our childhood imitations. Now, with her passage from mortality to immortality, she opens the doorway to "Asha and Hope" for generations to come. Her legacy and body of work will course through humanity like blood, imbuing it with vital power.


Therefore, for the vital power to sustain a future conscious state, Asha Tai and her music will blend Western Materialism and Eastern Spiritualism. For instance, the spiritual lineage of Raag Kamod in “Jaane Kya Baat Hai” from the film Sunny will mix with “Duniya Main Logo” ko to bring in two different dimensions of restlessness in a human soul. A soul that starts to cry out with “Jane Ja” from the backend notes of " Yeh Jawani Yeh Diwani", then questions a free-spirited soul and its longing through AR Rahman’s “Rangeela Re”. As an avid music fan of Asha Bhonsle, the same Rangeela Re was a delight of evolution of music from the “Rangeela Re Tere Man Main” of her own elder sister Lata Mangeshkar.


The two songs across two time frames clearly capture how our society moved from a spiritual, soulful society to a materialistic one. Both were contextual in their own times. While Lata’s Rangeela Re was about a “Brahmin” and “Kshatriya” society of Vivekananda where culture, consciousness, intellect flourished, Rahman’s Rangeela Re through Asha Tai brought the “Vaishya”, “Shudra” into the music. It became the music of trade, mass, people, commerce and equality.


The portrayal of the AR Rahman song on the film screen also depicted the people as in a free-spirited, equal, evolutionary society. Asha Tai brought it to us. In a world of discrimination, religion, she brought equality and light of the morning like her song - “Bheeni Bheeni Bhor” through the “Raga Mian Ki Todi” and “Adha Teental”.


The rhythm of the song, which is half-filled like a cup, only projects the essence of incompletion of life and suggests that Asha Tai only made us say - “Dil Padosi Hai (1987)”. This is because only when the heart is your known neighbour, you can make a discriminatory society as an equal one!


(The writer is a Professor, Director, Manav Rachna Centre For Peace and Sustainability, Research Lead, Ashoka Centre For People Centric Energy Transition. Views personal.)

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