July 22, 2021

Diwali is the festival of lights and hope. All across India people celebrate this festival as a festival of prosperity and wealth. People worship goddess Lakshmi and Lord Ganesha for fulfilling the prosperity of their family and wealth. This occasion also teaches us some important lessons which we should implement to have a safe, secured and successful future. Implementing the lessons learnt from Diwali will enable you to assess your current financial plans and allow you to make new financial plans for a better and secured tomorrow.

Let us analyze how a robust financial planning, including insurance, which forms an imperative ingredient of a strong financial planning can brighten your future this Diwali.

1) Early Planning

Diwali is celebrated as a big festival in India and all the planning and purchase starts way before the arrival of Diwali. People start an early planning for their investment on gifts, crackers, sweets, vehicle and home appliance which allows them to enjoy the festival with more enthusiasm and joy. The same practice can be implemented for your financial planning also. A financial planning done at an early stage of your life can provide you a complete financial stability with no loss of money during the advanced age of your life. For example, many young people ignore buying an insurance plan because they think it’s too early and in later stages of their life, they end up paying a very high amount of premium which could have locked at a low price when they were young.

2) Protection is Imperative

While bursting crackers, you must have heard your parents asking you to protect yourself from any casualty by taking proper safety measures and when it comes to kids, parents always stand with them as protection while bursting crackers. The same concept of protection goes with insurance policies.

An insurance policy provides you a protection against various types of risks. For example, a life insurance policy gives you a protection against the risk of life in the form of death and maturity benefit and buying it at a young age allows you to enjoy longer cover with low premium amount. Similarly, a health insurance policy provides you cover for your medical and surgical expenses which is a huge benefit in today’s life where health care is popping out of everyone’s budget due to high medical inflation rate. A life without a necessary protection like insurance policy can put you up in difficult situations which could have been avoided.

3) Add Variety

Whether it is about decoration, buying gifts, crackers or clothes, we love adding variety to it. It helps us to add more joy to the festival, which is itself a diversified celebration. You can enjoy similar diversification to your financial planning by adding variety to your portfolio to gain the benefits of different financial instruments. Instead of investing in a single financial instrument, you can invest in varied propositions like PPF, equity, mutual funds, insurance, fixed deposit, etc. to your financial plan. It will help you to distribute the risk and gain maximum benefit from your financial plan.

4) Do a Goal Based Planning

When we go out for buying gifts for Diwali, we always keep in mind the interest and age of the person for whom we are buying the gifts. A Friend who has a great interest in art could be gifted with a beautiful painting while for kids, a toy will be perfect. This is called as goals based investment and the same can be done for your financial investment also. You should have a clear picture of the goal for which you are making the investment, which will allow you to adjust your financial planning according to your need and you will be able to avail maximum benefit from it. Goals of life like your retirement, children’s education and marriage, purchase of a car, a home could be completed easily and effectively with properly analyzed investment. The way in which a gift could become useless for a person if you don’t consider his age and interest, in the same way your investment will become a waste of money if you don’t consider it as per your future goal.


A delay in financial planning will not only increase your financial burden, but will make your future insecure as well. A diversified financial plan which includes important factors like risk management, investment, future obligations is the best plan for you. So maximize your Diwali celebration with a proper financial planning which will allow you to have a safe and secure future.

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