Ganesh Chaturthi, also known as the Vinayaka Chaturthi or Ganpati festival, is one of the most vibrant and beloved celebrated festivals in India. Devotees across the country welcome Lord Ganesha into their homes and hearts with full joy. This 10-day celebration begins in September this year and is marked by devotion, cultural activities, colourful processions, and the installation of Ganesha idols in homes and communities.
Lord Ganesha is celebrated not just for his benevolence but also for his wisdom, intelligence, and ability to overcome challenges. These qualities can be directly applied to personal finance as well. As the nation joins in the festivities of Ganesh Chaturthi, here are seven valuable money lessons that resonate with the spirit of this auspicious occasion.
Lesson 1: Manage your debt
Before Ganesh Chaturthi begins, households are often thoroughly cleaned to welcome the deity into a fresh and pure environment. This tradition can also be applied to your financial life. Just as you clean your home, use this festival as an opportunity to assess your financial situation and clear or better manage your debt.
Today, getting a personal loan online from new-age banks like IndusInd Bank is a quick and easy process. Such accessibility allows you to seamlessly consolidate multiple debt obligations into a single Equated Monthly Instalment (EMI) at a lower interest rate. This smart move can reduce your monthly payments, simplify your repayment process, and help you become debt-free sooner.
With a 100% digital process, obtaining an IndusInd Bank Instant Personal Loan is quick, paperless, and hassle-free. All you have to do is:
Apply online via the IndusInd Bank website or the IndusMobile app
Provide your PAN card details and mobile number linked with your Aadhaar
Fill in your personal and professional details in the provided form
Based on your credit profile, confirm on the personalised loan offer generated for you
Do a quick video KYC and once your details are verified, the approved loan amount will be credited to your bank account instantly
You can conveniently repay the borrowed funds over 1 to 4 years. Apply today!
Lesson 2: Focus on budgeting
Lord Ganesha’s calm and composed demeanour is a reminder of the significance of discipline in every aspect of life, including finances. A major aspect of financial discipline is budgeting, which involves planning, monitoring, and managing income and expenses to maintain financial stability, achieve goals, and prevent overspending.
Lesson 3: Learn the importance of saving
The festival's emphasis on new undertakings offers a great opportunity to begin a savings routine. Open a high-interest savings account and contribute a small portion of your income regularly. By the time Ganesh Chaturthi arrives next year, you will have a substantial sum saved up for the festivities.
However, the key is to choose the savings account that offers the right growth for your hard-earned money. Consider the IndusInd Bank Indus Select Savings Account, which offers best-in-class interest rates on your deposited balance and boosts your financial growth effortlessly. Besides a competitive rate, you get additional premium features that help you save more. These include:
Annual savings of approximately Rs 30,700 through cashback and discounts
15% off at leading restaurants in your city
Unrestricted use of all ATMs across India
Buy 1 Get 1 free deal on movie tickets via BookMyShow
Get up to 3 free tickets per quarter, worth up to Rs 500 each, with your Select Debit card
Up to 20% discounts on Swiggy and BigBasket with your IndusInd Bank Debit Card
Complimentary access to domestic airport lounges with your Signature Select Debit Card
50% discount on small and medium-sized lockers. This means you can protect your valuables at a lower cost
You can open a savings account online with IndusInd Bank in just 4-steps:
Step 1. Pick an account number of your choice
Step 2. Enter your details
Step 3. Add funds to your account
Step 4. Complete Video KYC from anywhere, anytime
Lesson 4: Invest in fixed deposits for stability and growth
During the Ganpati festival, as you seek blessings for prosperity and success, consider initiating a Fixed Deposit (FD) as a symbol of financial prudence. Fixed deposits offer a safe investment route and provide predictable returns without the risk associated with volatile markets.
You can select an FD tenure ranging from just seven days to up to 10 years. Interest payouts are also customisable, with options like monthly, quarterly, half-yearly, or yearly payments available. If you have long-term goals, you can opt to receive the entire payout at maturity.
You can book an IndusInd Bank FD in just 4 steps:
Apply online and provide your Aadhaar and PAN card details
Fill in personal and fixed deposit details such as the tenure and amount
Complete video-KYC to verify your identity from the comfort of your home
Fund your FD
Now, enjoy stable, high returns over the FD tenure.
Lesson 5: Make the most of your credit card
A credit card is a powerful financial tool that offers spending flexibility, rewards, cashback, and discounts, along with the opportunity to build a strong credit history. This Ganesh Chaturthi, align your financial actions with Ganesha’s principles of intelligence and foresight to make the most of your credit card’s features.
Start by paying off balances in full each month, strategically planning purchases to maximise rewards, and taking advantage of special offers. This way, you can enhance your savings and ensure your financial decisions contribute to long-term growth.
Lesson 6: Be patient and persistent with investments
At the end of Ganesh Chaturthi, devotees receive prasad, which symbolises the fruits of their devotion and patience. Similarly, in personal finance, patience and discipline are rewarded over time. Let these principles guide your investment strategy as well.
Diversify your investment portfolio with different asset classes such as stocks, bonds, real estate, and mutual funds to protect yourself from the volatility of any single market. Trust your investment strategy and avoid making impulsive decisions based on short-term market movements.
Start investing as early as possible to maximise the benefits of compounding, where your earnings generate further income over time. The longer you keep your money invested, the more significant the impact of compounding will be on your wealth.
Lesson 7: Build an emergency fund
During Ganesh Chaturthi, families often prepare for unplanned events, such as sudden increases in the number of guests, last-minute supply needs for rituals, and expenses for decorations. In the financial world, this preparedness could mean building an emergency fund. An emergency fund is a crucial safety net that protects you from unexpected expenses, such as medical emergencies, job loss, or urgent house and vehicle repairs.
Keep an emergency fund in a zero-balance savings account, such as the IndusInd Bank Indus Delite Savings Account, so that you can access the full balance when needed without penalties. Setting aside money for emergencies ensures that you are not forced to liquidate your long-term investments or take out high-interest loans during critical times.
Celebrate prosperity with Ganesha-inspired financial habits
Let this Ganesh Chaturthi be a turning point in how you approach your finances. Reflect on important money lessons such as clearing debt, developing saving habits, building an emergency fund, booking fixed deposits, diversifying investments, and using credit cards wisely.
Follow these lessons with the same devotion you bring to the festival and let them lead you toward long-term financial well-being.
