In India, Dhanteras is a much anticipated holiday. On this day, people choose to shop for gold and silver jewellery, accessories, and other items. Additionally, Dhanteras is viewed as a lucky time to schedule weddings, buy vehicles and homes, launch new businesses, have housewarming celebrations, and more.

The five-day Diwali celebration begins on Dhanteras, the thirteenth day of the waning phase of the lunar month in the month of Kartika. According to Hindu mythology, this particular day is lucky because Goddess Lakshmi sprang from the milky ocean after being stirred up by both gods and demons. For those who are involved in trade, the day has special importance since they view it as favourable for closing agreements. People in India have firmly believed for a very long time in the cultural and religious history of that country that doing and purchasing a few items on Dhanteras might open the doors to luck and wealth.

Auspicious things to do on Dhanteras

Dhanteras is good for starting any things that must grow progressively. You can start a new business or launch new projects on this day. This day is also a good one to start the constructions or renovations of homes and offices. During the Pradosh Kaal on Dhanteras that lasts for about two hours from sunset, it is good to perform Lakshmi Puja. This puja is extremely important for business community to invite luck and prosperity. Some people fast on the day of Dhanteras concluding it in the evening after Lakshmi puja. A ritual known as the lighting of Yamadeep is done on this day in the evening placing the lamp at the entrance of the house. This is said to keep the god of death away from the home.

What you can buy on Dhanteras 2021

Dhanteras let us look at Wealth Creation Differently

Clearly, Dhanteras is about enhancing long term prosperity and well being. As you make a start to this Diwali celebration, here is what you need to focus on the wealth side.

Tips to plan your finances this Dhanteras

1. Set Long and Medium Term Financial Goals

This Dhanteras plan your finances and set short term, medium term and long term financial goals. A short term goal can be to buy an iPhone on EMI, a medium term goal can be planning for the finances for your next vacation and a long term goal can be to pay for your child’s education or wedding.

Commit yourself to these financial goals and start investing this Dhanteras so that you can have a bright future for you and your family.

2. Stay Covered

One of the biggest financial follies is not buying insurance or having little insurance coverage. Insurance is a must-have so ensure you have adequate insurance to secure yourself and your family against unforeseen circumstances, regardless of the probability. This will ensure that any future costs related to those who are dependent on you financially are adequately covered by insurance.

3. Buy a House with Home Loan

It is also a good idea to go for a home loan for your very own home this festive season as that will make you secure in the long run and will also provide you a home of your own. It makes sense paying EMI rather than paying rent and so you should go for that home loan also because you will get great offers this festive season.

4. Pay off Your Debts and Loans

Dhanteras is also an excellent time to pay off your debts and loans. This will ease not just your financial pressure but you will feel relieved and relaxed in your mind as well. This will also help you improve your credit score and become more credit worthy so that you are easily able to take loans when you need them.

5. Create Multiple Income Streams

An often overlooked aspect of financial planning is the importance of creating multiple income streams. It not only has the uncanny ability to build wealth and sustain it over the long term but also ensures that you don’t take a huge hit during life’s many unexpected events.

6. Have a Well-Stocked Emergency Fund

No matter how financially prepared you think you are, it’s imperative that you have an emergency fund in place to cover any financial surprises life throws your way. Being prepared with an emergency fund tucked away in a savings account or an easily accessible investment gives you the confidence to pay for any unexpected expenses while helping you to stay afloat.

7. Go for Gold

Gold is an excellent investment, but go for gold bars and coins and not just jewelry as the former don’t depreciate over time and you get the benefit of appreciation of gold prices.

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