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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.)

The Birth of Plastic: From Ivory Shortage to the “Plastic Age”

Nov 21, 2025
3 min read

Once seen as a way to save elephants and tortoises, plastic has since threaded itself through every aspect of modern living.

The invention of plastic was still very much in its infancy in the late nineteenth century. As I mentioned in my earlier article, people across the world were actively searching for a practical, affordable, and sustainable alternative to ivory and other animal-derived materials. At the time, these natural substances were widely used to produce everyday household items, decorative objects, and various sporting goods—demand that placed immense pressure on wildlife and threatened the very survival of several species.


In 1863, the billiard ball manufacturer Phelan & Collender offered a reward of 10,000 US dollars to anyone who could produce a suitable substitute for ivory. The growing scarcity of ivory threatened their business, as it was essential for making high-quality billiard balls. In response, John Wesley Hyatt spent several years experimenting with different materials. His persistence paid off when he succeeded in creating a plastic-like substance from cellulose. Hyatt patented this invention and later set up his own company to produce billiard balls using the new material. Notably, one of the earliest additional uses of this innovative plastic—besides billiard balls—was the manufacture of denture plates, signalling the start of a new era in synthetic materials.


This discovery was truly revolutionary. Until then, human manufacturing had been limited to materials provided by nature—wood, metal, stone, bone, tusk, horn, and a few others. Craftsmen and industries were confined to whatever the natural world could supply. With the arrival of this new substance, however, humans could create entirely new materials with specific, tailored properties. This breakthrough initially benefited both people and the environment. Advertisements of the time even hailed celluloid as the saviour of the elephant and the tortoise, suggesting that this man-made material could spare wildlife from the growing pressures of human demand.


The success achieved by Hyatt, and later by Leo Baekeland, encouraged major chemical companies to invest heavily in research and development. Their breakthroughs revealed the vast potential of synthetic materials, and soon a wave of new plastics appeared alongside celluloid and Bakelite. While Hyatt and Baekeland had focused on creating materials with specific practical uses, the newer industrial research programmes took a broader approach. Scientists began developing plastics for their scientific and commercial possibilities, often finding applications only after a material had been created. This shift marked the start of a more ambitious and exploratory era in polymer science.


True to the old proverb “necessity is the mother of invention”, more and more varieties of plastic emerged as human needs evolved. A notable example is nylon, invented in 1935 by the American chemist Wallace Carothers. He created nylon as a type of synthetic silk, but what began as a textile innovation quickly became indispensable during the Second World War. Nylon was used for parachutes, ropes, body armour, helmet liners, and many other military needs. At the same time, Plexiglas offered a safer and more durable alternative to glass for aircraft windows. Commenting on these advances, Time magazine observed that wartime pressures had “turned plastics to new uses and demonstrated their adaptability all over again,” underscoring the remarkable versatility of these new materials.


In countries such as the United States, plastic production did not slow after the war; instead, it continued to grow as industries recognised the material’s commercial promise. Plastics quickly moved from specialised wartime uses into everyday consumer goods. As American author Susan Freinkel notes in her book Plastics: A Toxic Love Story (2011), “In product after product, market after market, plastics challenged traditional materials and won, taking the place of steel in cars, paper and glass in packaging, and wood in furniture.” Her words capture the dramatic post-war shift, when plastics began to dominate sectors that had long depended on traditional materials.


The vast potential of plastics led some observers to imagine an almost utopian future—one where an inexpensive, safe, sanitary, and highly adaptable material could be shaped to meet nearly every human need. This reflected the optimism of an era that believed scientific ingenuity could overcome material shortages and improve daily life. From their invention in the nineteenth century to today, plastics have steadily woven themselves into every aspect of modern living. Whether we realise it or not, we now inhabit what can rightly be called the “Plastic Age”.


How? Wait until next Saturday. Until then, have a wonderful weekend!


(The author is an environmentalist. Views personal.)

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