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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.)

Gudhi Padwa draws world to Girgaum

Writer: Ruddhi Phadke
Ruddhi Phadke
Mar 19
4 min read

Mumbai: It was the 24th celebration of Gudhi Padwa in Girgaum on Thursday, and as usual, the festivities were grand, picturesque and saw humongous response not just from the local residents. This year, the celebration saw huge participation of enthusiasts from beyond the borders. While some coincidentally bumped into the event, some others actually typed ‘Gudhi Padwa 2026 schedule’ in their google search bar to ensure they did not miss this ‘must do’ event while planning their holiday travel in India. It is indeed a big moment for a Mumbaikar to know that an international traveler has Girgaon listed as one of the ‘must do’ destinations for an India trip in their diary; Gudhi Padwa being the cause is even more interesting.


Tana, who lives in the Netherlands embarked on a long duration trip to India earlier this month, visited Mumbai specifically to enjoy the festivities. She told ‘The Perfect Voice’, “I came here to celebrate Gudhi Padwa with you. I am here to experience everything that I see, all the beautiful outfits, beautiful people. I did a lot of research. I knew that today is the day New Year is celebrated in Maharashtra. I am a tourist. I am alone. I am indulging in everything here from food, festivals, dresses. I adore India. I actually typed Gudhi Padwa in the search bar to ensure I did not miss this must-do event during my trip to India.”

Shivani Dopavkar, a Hula Hoop artist who is a regular and active participant had made an interesting statement when she had spoken to ‘The Perfect Voice’ during last year’s Shobha Yaatra. She had said, “I quit my IT profession to take up Hula Hoop as my full-time art. I wish to take Girgaum to a level where it is recognised globally. I have chosen Hula Hoop to accomplish this dream for which Gudhi Padwa Shobha Yatra is a perfect platform.”


The dream doesn’t seem to be far from success as a lot of foreign participants dressed up in traditional Indian attire were seen enjoying the activities


Annie, from Berlin who came to India as a tourist co-incidentally got introduced to the festivities. “It is really colourful. I have come from Berlin with my Indian friend. German culture is very different. Everything is colourful and vibrant here. The women on the bikes, the flowers, everything that we see around is very eventful,” said Annie.


Early Preparations

Girgaum woke up to busy preparations right from six am, as participants and volunteers geared up for the day ahead. The action began at around nine am, with people from different walks of life wounding their happiness around different themes from Hindu mythology to ancient Marathi traditions. From Children to elderly, to differently abled individuals, all enthusiastically navigated through densely crowded tiny lanes that whole-heartedly accommodated hundreds of visitors.


Kamini Darji, a Gujarathi speaking Girgaum resident was present in the middle of the action with her differently abled son. Darji said, “I get my son every year to witness the festivities. The environment gives a very united and positive vibe. We never miss the event.”


From Lejhim to Dhol Tasha Pathak, from bike borne Navvari saree clad women to Hula hoop artists; from live bhajan singing to Mardani Khel to children dressed up based on different themes from Chandrayaan to ‘Vithoba-Rakhmai’; the celebration gave a perfect introduction of India’s cultural wealth to all the international visitors.

Jennifer from Germany who participated in Mardani Khel wearing a traditional nine-yard saree said, “We play Mardani khel every year for Gudhi Padwa. I have been to Maharashtra many times. This is the first time that I have come to Mumbai. I learnt this art at Shivaji Raje Mardani Akhada in Pune. I have been visiting India for nine years. Earlier I used to live in Bengaluru.”


Vande Mataram Theme

While it was a beautiful blend of all the aspects that define India, the cherry on the top was – the ‘Vandya Vande Mataram’ – theme. To commemorate 150th anniversary of India’s national song Vande Mataram, most of the Tableaus and art work revolved around patriotic sentiment. While Shobha yatra 2024 was all about Lord Shri Ram and 2025 about pride for Marathi language, the year 2026 was all about freedom struggle and love for India.


The most interesting highlight was the 25-foot-tall paper statue of freedom fighter Swatantryaveer Savarkar that was carried past to the thunderous beats of drums filling the air with exuberance. A 31-year-old sculptor Gaurav Pawar made the statue along with his brother Gitesh and other volunteers. Gaurav said, “Last year we made a statue of Dnyaneshwar. This year we got an opportunity to make a statue of Savarkar Ji. We took 10 days to make the statue out of paper and bamboo material. It was completely eco-friendly. We got to learn a lot about Savarkar ji during the process and it was a very very sensitive experience.”


The Statue was prepared in Bedekar Sadan which is one of the buildings located in Shantaram Chawl Complex which was the hotbed of freedom movement. The residents unknowingly carry forward the legacy of the enclosed structure, a place where prominent freedom fighters like Lokmanya Tilak, Annie Basant, Mahatma Gandhi, Mohammad Ali Jinnah and Lala Lajpat Rai used to gather to lead historic movements.

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