India is a country of many different types of festivals. They play a significant role in the development of an individual. Festival comes in various kinds. Some festivals are religious, some national, some cultural, and some harvest/seasonal. All festivals are celebrated across the country with a lot of enthusiasm. Here we are going to discuss one of the seasonal or harvest festivals. Makar Sankranti is that seasonal festival celebrated on 14 January every year but sometimes falls on 15 January. The festival also recognized by many other names Maghe Sankranti (Nepal), Maghi (Punjab, Haryana, and Himachal Pradesh), Thai Pongal (Tamil Nadu), Ghughuti (Uttarakhand), or simply as Sankranti (Andhra Pradesh).
The festival is celebrated to mark the beginning of harvest season and winter solstice – an event or transition phase, as from now onwards the days will be longer and the nights will be shorter. The Makar Sankranti celebrations include flying kites, Fairs, Bonfires, Surya Puja in rivers, Arts, Cow Puja, Dance, and various socialization activities. Amongst these, flying kites is a very popular celebration activity, thus the festival also known by Kite Festival.
Like other festivals, Makar Sankranti has a lot of significance in our personal development and lessons to learn and implement. With this article, we aim to suggest some important financial lessons and investment tips that you can learn from the festival of Makar Sankranti.
Financial Lessons to Learn from Makar Sankranti
Following are key financial lessons that you can learn from Makar Sankranti for your financial beings:
Your financial success largely depends upon the quality of ‘Manjha’ a.k.a Investment Avenue:
When flying the kite, we use only ‘Manjha’, not random thread. Why? – It is because Manjha (string) is an abrasive string coated with powdered glass. These strings provide the quintessential strength in flying kite combats and help us in ensuring no one cut short, making kite flies higher. Choosing the right kind of Manjha is very much similar to choosing the right investment avenue to invest and achieve your financial goals in time. To do so, consider proper asset allocation in the right assets that suit your investment goals and risk profile.
Hence, it is imperative to select the investment avenues that can generate inflation-adjusted higher returns for you in growing your wealth over time.
Always mind the market volatility as you mind wind when flying kites:
While flying kite, wind plays a crucial role in keeping afloat a kite in the sky. Too much wind could damage your kite while too little wind could make it difficult to keep kite afloat. However, without wind, the kite cannot launch a kite in the sky. Similarly, in the stock market, there will be volatility. There will be a time when the market is rising and there will be a time when the market will be falling. However, you have to remain calm and hold on to your investments. Do not rush into decisions and surrender to the market volatility. Always mind the volatility and make informed decisions without jeopardizing your investment plans.
It is easier to make investments with a financial advisor to guide you, just as it is easier to fly kite with a companion:
In a typical Makar Sankranti festival, we have often seen people on terraces where one manoeuvre the kite while another is standing beside him/her, holding a Firki/Charkhi whose entire role is to release and retract the right amount of string at multiple instances. Even though one person is capable of managing both, but it becomes easier to fly with a companion and take the kite to higher horizons.
Similarly, having a financial advisor by your side can make it easier to take your investments to higher horizons. A financial advisor plays quite a similar role, helping you in a gusty wind, and provides you with the investment tips at the right time.
Long-term investments demand discipline, focus, and patience same as flying kites demands passion and determination:
Without a doubt, flying kites need utmost passion and determination. It is not easier to stand all day under the sun, and continue flying passionately. It takes a lot of determination stand all day and deals with every kite that is getting in your way. Long-term Investing is not much different from flying kites. It requires strict discipline, focus, and patience. Not every kite can reach a higher horizon. Some may be cut while some get damage. Similarly, not all investments made can generate returns. Sometimes, you must cut your losses and sometimes you must stick with your investments to get the potential rewards. However, nothing is possible without strict discipline, focus, and being patient towards your investments.