Checklist: How not to go broke this Diwali

It’s that time of the year when we all say Mera waala Pink.. We are feverishly preparing. Starting with Ganesh Chaturthi, followed by Durga puja, Diwali and right till Bhai Dooj, its packed with festivals. 

To give you a dekko of what all has played on our minds, here’s a cheat sheet of to-dos:

● New upholstery and wall painting

● Cleaning and home decor

● Sweets and savouries – home made and purchased

● Clothes 

● Gifting

● Pooja essentials and crackers

● Hosting a card party and attending a few 😄

This fervour is not going to leave anyone untouched. To achieve all this, major spends will happen. 

I recollect last festive season came as a big learning for a friend. Saying she went overboard in prep, would be an understatement. Some hasty swipes and she was up against massive credit card bills. Soon the festivals were upon us and she was having a delusional celebration owing to money worries.

To prevent from getting carried away, here’s is a checklist everyone should run past.

1. Have you checked inflow (salaries, bonuses received) vs. outflow (fixed expenses, bonuses paid to support staff or house help)? 

2. Have you made a festival shopping budget?

3. Have you made a list of people you need to gift?

4. Are there things you can up-cycle from some other time – especially clothes / gifts / crackers

5. Have you considered saving / investing a part of your diwali bonus?

6. Can you recycle the ethnic attire in the upcoming wedding season?

7. Are you ditching physical gold purchase for ETFs or a child plan?

8. If bringing home a new car, have you paid maximum possible down payment to keep EMIs reasonable?

9. Have you regularised your festival leaves with your boss to avoid loss of pay?

10. Can you manage yourself rather than calling for professional services like home cleaning, decorations and catering?

A motley of measures can save you the post celebration crunch. Have a happy Diwali Momeys! 😊

4 things you silently thanked your Mom for!

Our first teachers are undoubtedly Moms. There are a thousand things we learn from them –  taught and untaught. Here are 4 qualities we imbibed from them and can’t be more thankful for.

  1. Patience – the biggest virtue of a mother – Wondered sometimes if word patience came from the word Parent 🙂 When the madness is at its height, and you know that you have to slug it out, its perfect time to remember how your Mom would have handled the mayhem. Infinite inspiration descends ofcourse.
  2. Healthy food choices – Superfoods, high protein diets, organic – these words may have sprung up now but our mothers’ kitchens were taking care of all dietary essentials long before we realized. Thank heavens we are now able to give it to our kids.
  3. Together is Family – No celebrations are complete without over fave people around. Great that we got this early on and now don’t miss a chance to bring everyone together for our kids.
  4. Think tomorrow – Living in debt is definitely not a value our moms regarded as one. We saw them maintaining savings stash somewhere to fund a dream or take care of proverbial rainy days or simply for better future. Imbibing from our moms, we ensure there’s always some surplus so that slipping into debt doesn’t become a practice.

What’s your dream, Mom?

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There ain’t a  mother without dreams for her children. This is true for fathers too but nothing like a mother’s innate love and desire for her kids’ bright future.

Through cinemas, tv commercials, and other media forms, we have grown up picturing a sacrificial mother – Mother India rings a bell? Giving up her own pursuits, subjecting herself to odds at work or around the house yet giving unflinching, unrelenting care is the hallmark of an Indian Mother.

But honestly, other than your love and encouragement, what does your child need to realize those big dreams? The right answer would be – Financial Planning. Have you thought about back of hand calculations of cost of child education? Right from start to higher studies. In future it may touch a few crores. And what about expenses along the way – lifestyle, indulgences for him / her like a holiday, a swanky gadget, special coaching if your child is in performing arts or sports? And Oh wait! The big fat indian wedding is not even getting accounted for. Let’s not get there, as they say.

We know raising kids is by no means economical. Then why not be smart about it and have an investment plan around it? Merely saving up is not sufficient since inflation bites hard into savings. Today’s earnings have to be channelized to meet demands later. Question is, how do you do it? Well it’s nothing short of a scientific process, but an easy one. Through this blog, we will be your friend and guide to make dreams possible. We will give out simple tools, methods and suggestions so you would be able to set your personal & financial goals, make right choices of investments and accomplish your goals.. So you Mom, won’t just be a dreamer, but also an achiever.