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Posted on Monday March 29th, 2021

Spring has brought the most awaited festival for us, Holi time! It is the festival which all has waited for to enjoy together with family and friends. People find time from their hectic schedule to celebrate the occasion with colors on faces and love in heart. The festival signifies the triumph of good versus evil and importance of enjoying the color of diversification. It also teaches some financial lessons as it signifies the victory over evil; similarly, financial burden is the evil of life.

To make our life happier, financial independence is more important to enjoy the festival of colors. One has to sow the seeds to experience the financial freedom and we are discussing some of the tips that will help you to reconnect and celebrate the togetherness and love with your near and dear ones.

Spend within your budget: This tip will have a huge importance to financial plan of any individual. Most of the people relate their financial freedom to earn money on their own which could be partially good but the crucial thing you need to know, how to spend that money to build a financial cushion for you by spending less than you earn.

Save for an emergency: One has to save money to create a wealth by channeling their savings into emergency funds as the financial assistance is much needed in emergency situations. However, you can consider your family and friends to assist you in such tough times but you should always have some backup plan of your own. Creating an emergency fund can truly make you financially independent.

Keep an eye on your finances: You will be amazed to know that a little far knowledge can give you a clear path towards setting up the financial goals. Therefore, it is necessary to understand the mechanics of finance and current money trends which can make you jump for joy on the thought of money, so look for the ways to stay updated.

Make a list of your goals: It is good to break down your long term goals and set target figures and dates. By doing so, you would stay focused and keen. It will also assist you towards your end goal of achieving the true financial freedom. Once you have written goals in front of your eyes, you will get a fair idea of what you want to achieve out of it. Plan to meet your goals by understanding the deadlines.

Do not forget to enjoy: Do not get so lost in your work and making out your future plans that you forget to spend the time on yourself and to connect with family and friends on festivals. The festival of colors demands low expenses as costs, it can actually be a good stress buster and help you to rejuvenate yourself and revisit your goals with a renewed zeal. Hence, do not forget to splash the colors on others and to diversify your finances to play safe and yield more returns by minimizing the risks.

Happy Holi!