Holi 2024: Six key money lessons you can learn from the festival of colours
Holi, the festival of colours, when observed carefully offers a range of money lessons to investors. From early preparation of this festival to the playful spirit with which it is celebrated – there are a range of key money lessons we can learn from it.
Just like we tend to play with a range of colours on Holi, it is advised to invest in a range of stocks in order to create a diverse portfolio. Also, it is recommended to not get intoxicated on Holi. Similarly, investors are advised to consider investing as a serious act of buying and selling instead of seeking a high.
Let us understand the six key money lessons one can learn from the festival of colours:
1. Early preparation: Before the festival kicks off, it is recommended to do some preparation the night before. It is common to get some water-filled balloons ready, prepare gujhiya and even concoctions of colours to be used.
In a similar fashion, one should first make the right plan before starting to invest. Before actually investing the money, one should study about the companies, stocks, overall market scenario and the reasons why stocks and sectors are moving in one direction or another. Once the background preparation is complete, the probability of making the wrong investing choices would decline.
ALSO READ: Bank Holiday Today on March 25: Are all banks closed for Holi today? Check details here
2 First coat on body: Some people put a coat of oil on their bodies before starting to play Holi. This prevents any hard colour from sticking to the body. This little trick usually keeps any harmful substance from doing any damage to your skin.
The same way, one should carry out some hedging of investment so that when bets go wrong, there is some embedded protection in
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