Active Stocks
Fri Jun 21 2024 15:59:28
  1. Tata Steel share price
  2. 179.85 -1.37%
  1. ITC share price
  2. 419.60 -0.89%
  1. State Bank Of India share price
  2. 836.40 -0.88%
  1. Wipro share price
  2. 490.55 0.01%
  1. ICICI Bank share price
  2. 1,156.85 0.00%
Business News/ Money / Personal Finance/  Krishna Janmashtami 2023: Eight financial lessons from Bhagwat Gita teachings
BackBack

Krishna Janmashtami 2023: Eight financial lessons from Bhagwat Gita teachings

Janmashtami, the birth celebration of Lord Krishna, holds deeper meaning as it teaches us valuable lessons that can be applied to our financial decisions.

Lord Krishna advises us to be mindful of our actions. (PTI)Premium
Lord Krishna advises us to be mindful of our actions. (PTI)

Janmashtami, the birth celebration of Lord Krishna, is not only a religious festival but also holds deeper meaning for the learnings it embodies.

This is a time for reflection as well as for remembrance of Bhagwat Gita that was told by Krishna to Arjun before the start of war between Pandavas and Kauravas known as Mahabharat.

However implausible it may sound, the Bhagavad Gita teachings can – and should -- be applied to our financial decisions as well. For example, the mantras of detachment, mindfulness, embracing change, diversification, patience, balance, trust in the divine, and continuous learning can guide us towards making informed and responsible financial choices.

Let us reflect on these this Janmashtami and try to imbibe them into our financial journey:

Detachment and non-attachment to wealth

Lord Krishna emphasises the importance of being detached from the material world and not being attached to wealth. This teaching can be applied to our financial decisions by reminding us that we should make well-informed and rational investment choices instead of being driven by greed.

Being mindful of our actions

Lord Krishna advises us to be mindful of our actions. In the context of finances, it means being aware of the consequences of our financial decisions. Before making any investment, it is essential to conduct thorough research, examine the risks involved, and make informed choices to ensure long-term financial stability.

Embracing change

Another important teaching is that change is an integral part of life. In the context of finances, this means adapting to changing market conditions and investment opportunities. The financial world is constantly evolving, and it is crucial to stay updated and flexible in our investment strategies.

Diversification

Lord Krishna emphasises the importance of diversification in the Bhagavad Gita. Similarly, in the world of investments, diversifying our portfolio can help mitigate risks and maximise returns. Investing in different asset classes, industries, and geographical regions can help spread the risk and optimise our investment outcomes.

Patience and perseverance

Lord Krishna teaches us to be patient and persevere in all aspects of life, including finance. Investments require time to grow and flourish. It is crucial to have a long-term perspective and not get swayed by short-term market fluctuations. Patience and perseverance can lead to better financial outcomes.

Balance between risk and reward

In the Bhagavad Gita, Lord Krishna emphasises the concept of "Sthira" (steadiness) and "Sukha" (happiness). Similarly, when it comes to investments, it is important to strike a balance between risk and reward. While high-risk investments offer potential high returns, they also come with greater volatility and uncertainty.

On the other hand, low-risk investments tend to provide steady returns but with lower growth potential. Finding a balance between these two extremes is crucial to ensure a well-rounded investment portfolio.

Trust in the divine and law of karma

Lord Krishna teaches us to trust in the divine and understand the universal law of karma. In the context of finance, this can be interpreted as making ethical and responsible investment choices.

Continuous learning and self-improvement

Lord Krishna encourages continuous learning and self-improvement in the Bhagavad Gita. This principle can be applied to our financial journey as well. Investing requires understanding and knowledge about various investment instruments, market trends, and economic factors. One should keep oneself informed, read books, attend workshops, and seek expert opinions to make informed financial decisions. 

So, let us reflect on these teachings this Janmashtami and incorporate them into our financial journeys, striving for financial stability, growth, and harmony.

learning-lessons-widget
The Wolf of Wall Street teaches these money lessons.
View Full Image
The Wolf of Wall Street teaches these money lessons.

3.6 Crore Indians visited in a single day choosing us as India's undisputed platform for General Election Results. Explore the latest updates here!

ABOUT THE AUTHOR
Deepika Chelani
A business media enthusiast. She covers personal finance beat for LiveMint.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 06 Sep 2023, 09:48 AM IST
Next Story footLogo
Recommended For You