Ganesh Chaturthi is around the corner and preparations for grand celebrations are already complete in many states across the country. The festival is celebrated on the occasion of the birthday of Lord Ganesh, who is revered as the God of wisdom, fortune and success. Devotees worship Lord Ganesha with great fervour and also use this occasion to begin many new ventures and businesses. Lord Ganesh is known as Vighnaharta, one who removes all obstacles in life, and that’s why devotees worship him before all new beginnings.

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Now that the festival is about to commence, it is the right time to learn some major money lessons for financial prosperity.

Money lessons to learn this Ganpati festival

Avoid unnecessary debt: One of the major lesson that one needs to keep in mind is avoiding too much debt as it can be a major source of stress and financial distress. Even if in debt, one should quickly pay off the dues and follow a disciplined approach to minimise expenses.

Plans for the future: As Lord Ganesh is often associated with prosperity and fortune, one should also remember to start saving for the future, to ensure stability and adequate funds in the later years.

Plan your investments: While rebalancing your investments, you should make plans accordingly in a bid to achieve your future goals. The plans must be made in view of new life experiences including marriage, childbirth, children’s higher education, early retirement, and entrepreneurship among others.

Educate yourself: Before making any investments, one should keep their eyes and ears open and try to focus on the market. Make sure you don't miss the minor details, especially in the case of stocks, and remain aware of any market developments. Educating yourself about the investment avenues will save your from unexpected losses.  

Budgeting: One of the crucial financial skills is to learn about budgeting. Investors should learn to plan a budget to meet their financial goals. As a part of this, one should check their bills and know how to handle them with the available resources. One should know the difference between their 'needs' and 'wants' and further strike the correct equilibrium between the two.

Be open to ideas: Those who are looking forward to new opportunities should be receptive to fresh ideas. Just like Lord Ganesh's 'large and wide ears', one should have the ability to pay attention and listen. As a part of this, one should be receptive to new ideas, strategies, and the flow of information.

To sum up, above everything else, Lord Ganesh is regarded as the god of wisdom, knowledge and prosperity, all of which are important for financial planning. One should take his blessings and proceed on the path of wealth and prosperity.