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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.)

SS (UBT)-MNS-MES flex muscles

Quaid Najmi
Jul 8, 2025
2 min read
The residents of Mira Road take out march under the leader of MNS on Tuesday in support of Marathi language. Pic: Bhushan Koyande
The residents of Mira Road take out march under the leader of MNS on Tuesday in support of Marathi language. Pic: Bhushan Koyande

 Thane/Mumbai: The ongoing language row flooded onto the roads in the Mira Road-Bhayander towns of Thane with a massive pro-Marathi procession taken out by the Marathi Ekikaran Samiti (MES) along with Maharashtra Navnirman Sena-Shiv Sena (UBT) that rattled the MahaYuti government.

 

In an embarrassment, a ruling ally Shiv Sena’s Transport Minister Pratap Sarnaik, who is also the local MLA of Ovala-Majiwada constituency which includes Mira Road, rushed to join the MNS-led morcha, but had to beat a hasty retreat after someone aimed a plastic bottle at him (which missed), others leered him at him with the slogan of ‘50 Khoke, Ekdum Okay’ or ‘Jai Gujarat’.

 

Defying the Mira Bhayander-Vasai Virar Police’s prohibitory orders and denial of permission for the march, thousands of angry activists of the three parties gathered since dawn in Mira Road, leading to a high-voltage drama as local traffic virtually came to a standstill.

 

The spectacle became more dramatic as the police detained or rounded up several local MNS leaders including MNS Palghar head Avinash Jadhav, Mira Road chief Sandeep Rane early on Tuesday, angering the activists who turned up in small groups but large numbers from Thane and other districts to the Shanti Park area.

 

Police in action

Even before the procession started, the police caught many of the protestors and dumped them in vans to the local station houses or other venues but the activists were undeterred and insisted on taking out the morcha.

 

This coupled with the denial of permission resulted in a volley of heated exchanges with the MBVV Police, stray incidents of scuffles and thunderous sloganeering, and thousands of activists of the three parties squatting on roads as the fracas continued for hours.

 

Mira Road town was ostensibly chosen for the procession as a retaliation for the business and trading community on July 3 to protest against the MNS’ roughing up of a local shopkeeper Babulal Khimji Chaudhary there on June 29.

 

While at least seven MNS activists were arrested for the incident, the MBVV Police permitted the traders’ procession on July 3, but denied clearance to the MES-MNS-SS (UBT) march today, from a particular route passing through Gujarati-Marwari dominated areas.

 

“The Gujaratis (in Mira Road) were given the green signal to undertake a protest then, but Marathis are being denied the same,” said an irate MNS Mumbai President and Spokesperson Sandeep Deshpande on Tuesday he later rushed to Mira Road to participate, as many blamed the local Bhayander BJP MLA Narendra Mehta and Minister Sarnaik for the denial of permission.

 

Maintaining a tough stance vis-à-vis the morcha, MBVV Commissioner of Police Madhukar Pandey said that they had certain intelligence inputs for denying the permission from the route the parties sought and also detained some persons, but said the police were ready to allow the march from an alternate route.

 

As tempers seemed to rise this afternoon, MNS’ Sandeep Deshpande, SS (UBT)’s Rajan Vichare plus Vinod Ghosalkar and others rushed to Mira Road to pacify their people and prevent the situation from escalating.

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