Personal finance planning typically begins with our long-term goals in mind. Once the goals are determined and outlined, the next step is to work backward and ensure that you invest appropriately to reach your goals. To complete this exercise, there are some basic rules you need to follow. For example, you need to start early, you need to invest with discipline, and you need to squeeze the maximum out of your income.
Let us learn how to stay resilient on this journey towards our financial goals from the Lord of Prosperity Ganesha himself. Ganpati Bappa surely has some timeless and priceless lessons for us.
The most important part of the journey is to embark on it
Why is Ganesh Chaturthi celebrated at the beginning of the 10-day-long festivities? It is to remind us that the most important part of any journey is to embark on it. Ganesh Chaturthi marks the embarking of a 10-day journey for inner peace and Lord Ganesha represents this action orientation. This is the crux of financial planning as well. It is of no use to just sit and debate the need for financial planning unless you do something about it. When you set out on a long process like planning for your financial goals, the most important thing is that you begin somewhere. This beginning is also important from another perspective; when it comes to planning for your financial goals, the earlier you start, the better it is. That is when you will actually start to make your money work for you and make time work in your favor. This is why the first step is the most important.
Be frugal and get value for money
If you look closely at the persona of Lord Ganesha, there is no sign of ostentation in his personality or in his clothing. The Lord manages to adjust anywhere and is happy at any place. For his travels, he uses the humble mouse. The focus is on frugality. Why is frugality so important in the case of financial planning? Most of us tend to look at our savings as a residual amount that is left after we spend on our requirements. That is against the basic rules of financial planning. To make the most of our finances, we need to squeeze every rupee in savings out of our income. The lesson here is frugality. Make saving your goal and build your expenses accordingly.
Have a focal point and keep it intact
Have you wondered what the small eyes of Lord Ganesha depict? It is all about focus. When you need to focus on a small object you narrow your eyes and that helps you to clearly focus on your goals. That is exactly what you need to do when you plan your finances. Your sole objective should be to achieve your long-term financial goals. Everything else revolves around that. It is this focus that the eyes of Lord Ganesha personify and it is this single-minded focus that you must bring to your long-term financial goals.
Have big dreams – think macro, but act micro
The persona of Lord Ganesha combines a large head and large ears, but a small mouth and small eyes. What does this say? It depicts that a mind that is intellectually sophisticated to see the big picture, ears that can learn and grasp all the while, a mouth that is sparingly and eyes that are narrowed and focused on the details. When it comes to financial planning and looking at our financial goals, we tend to become obsessed by the big picture. While the big picture is essential to remind us of our goals and where we are headed, we also need to develop the attention to detail like Lord Ganesha. That would be the ability to see through the clutter. When it comes to your money, if you take care of the smaller details, then the bigger issues will take care of themselves.
Bad times are short, good shorter
That is the crux of the Ganesh Chaturthi celebrations. Lord Ganesha reminds us that each year the celebrations will come but they will also go. But the memories and the hopes of good times linger on. This is a great lesson from a financial planning perspective. We have to make the best of our good times, while reconciling with the fact that when it comes to financial planning, there will be good times and there will be challenging times. Our entire assumption of financial planning should be that tough times will last much longer than the good times. It is this prudence and conservatism that will actually help us in our journey towards our financial goals.