His struggles and sacrifice towards Indian independence are well documented. However, Gandhiji or Bapu, as he is fondly known, is an institution in himself whose philosophies and principles continue to stay relevant in modern times and inspire the new generation.
Having said that, if analysed closely, Gandhi’s life holds crucial finance and investment lessons imbibing which can help you be on a solid footing and accomplish your goals with ease. On Gandhi Jayanti, let’s dig deep to understand how Bapu’s teachings can help you fortify your finances and navigate choppy waters with ease.
Gandhiji started India’s independence struggle on a small scale, united people, and gave it a shape of a mass movement. The start was all that mattered. Similarly, when it comes to finance and investments, it’s essential to overcome the initial lethargy and get started. You can start small and slowly build on later.
For example, to leverage the potential of equity markets, you can start a systematic investment plan in a mutual fund from as little as ? 500 per month and top up the amount later. The earlier you start, the more time your money gets to compound. Irrespective of your long or short-term goals, you need to plan early and channelise your investments accordingly.
Innumerable times during the freedom movement, Gandhiji faced the wrath of the British Government. He was jailed several times and was subjected to harsh treatment. However, that didn’t deter him one bit, and he displayed remarkable resilience amid adversities. Finances and investments are no different.
There will be times when things wouldn’t go as per plan. During such times, you need not panic and fret. This is particularly true if you have invested in equities that are an inherently volatile asset class. Several factors affect their performance, and most of them are beyond the control of investors.
During periods of heightened volatility, you need to be patient and avoid knee-jerk reactions. Doing so can puncture your gains and convert notional losses into actual ones. Those who remained committed to their investments when markets nosedived in March 2020 are now sitting on meaty gains when markets have scaled new highs.
Though Bapu had the means and resources to live an aristocratic life, he chose simplicity. Be it his clothes, possessions, or food, he kept everything simple. It’s a crucial lesson in the realm of finance. Simplicity helps you monitor your finances and investments and eases things in the long run. Also, you should invest in instruments that you know about and refrain from unregulated assets.
Simplicity in your finances will help you better understand them and make any changes if required. On the other hand, a complex approach can baffle you, and there are chances of going wrong with your investments. In a nutshell, simplicity allows you to better orchestrate your finances according to your needs.
Gandhiji said, “The future depends on what we do in the present”. The saying holds tremendous importance as our present-day actions determine how well we are financially positioned in the future.
Discipline coupled with patience, which has been hallmarks of Bapu’s life, can hold us in good stead amidst turbulent times and help us achieve our goals with ease.
Source: Jagran