Financial Lessons From Makar Sankranti

Makar Sankranti / Uttarayan marks the beginning of new harvest season, also known as Pongal in Tamil Nadu, Til Gul in Maharashtra, Poush Sankranti in West Bengal and Bihu in Assam. This is the day when sun shifts from Tropic of Cancer to Tropic of Capricorn. The warmth in the air is appropriate to sow new seeds and the same will now go for investments as we bring you some financial investments wisdom lessons, this Makar Sankranti which you can take back as a gift the festival gives you to sow the seeds of newer investments for a healthier and wealthier future.

Lets study Kite-Flying and Investments in Correlation, so as to have valuable insights before starting one.

1.Prepare before you invest – Just as we fly kites for a friendly banter in the sky on Makar Sankranti and a suitable preparation is needed before you approach the day with our arsenal of kites to soar higher. Similarly, it is quite pertinent that before going in for any investments we are required to get prepared with the course of knowledge and skills to efficiently plan our investments.

2.Target based vision – While flying a kite, when it soars higher, we need to keep our eyes on it to see that no one cuts it short and it flies even higher. Interestingly, an investment once executed, exposes us to the next phase, i.e. tracking our investments closely. This helps us in achieving the target of wealth building and a better future.

3.Flexibility – What if the wind doesn’t blow on the day of kite-flying. We make our efforts till the time it succeeds. So the mantra here is “Stay Flexible and Hold on”. If the investment is not giving an expected return, the mantra says “Hold on”. This is the time when an investor’s temperament is tested more than the intellect. In order to reap the fruits of an early investment. Hold as long as you can.

4.Appropriate Protection – While flying kites we seek appropriate protection via sun glasses, safety bands etc so that we don’t get hurt. Similarly, our investments also need inclusion of insurance as well as risk free instruments wherein our capital investment remains protected in adverse situations and don’t lead to financial panic.

5.Long Term Vision – No pain, no gains. You stand the whole day flying kites, determined to make use of the day and deal with every kite in your kite’s way. Thus being an investor is prepared to be there for a long time. Not every kite flies high. Some get cut while some get torn but the one which gives us immense pleasure is the one which flies high but for that you have to be prepared to lose some.

6.Balance between Good and bad situations – Makar Sankranti marks the beginning of Indian summer. This basically means, days become longer and the nights shorter. However, on the day of Makar Sankranti, day and night are of equal duration. If we think about it, managing our personal finance is all about striving to balance things out at all time.