Valentine’s Day 2024: Five key money lessons one can learn from it

This Valentine’s Day, most of us are likely to be busy working to bring a smile on the face of our loved ones. Some may be wracking their brains over finding the perfect gift while others are letting their creative juices flow by writing an impressive piece of poetry for their current or would-be partner.

Although love typically knows no boundaries of days, this much-awaited day in the month of February — is a stark reminder of the importance and potency of love.

The world of investing, too, can learn a lot from this day. Here we share the importance of Valentine’s Day for investors.

5 key money lessons to learn on Valentine’s Day 2024

The right price: Some love birds walk an extra mile to please their partners by spending more than they can afford to. They dip into their savings, or at times, overstretch their credit card limits to buy expensive gifts. 

This practice, however, is not very advisable. As an investor too, it is not prudent to go beyond your financial means to procure the things you love. Whether it is about buying a new gadget or investing into a risky stock, one should stay within the means instead of overspending. It is often said that no stock is a ‘good buy’ beyond a price.

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Commitment to one: Valentine’s Day is a day to commemorate your love for one person. This signifies commitment and loyalty to just one individual. Similarly, while making investment, it is imperative that you stay committed to your financial goals. 

Regardless of how much other securities and brokerage houses are offering, one should stay committed to their own financial plan and not change their portfolio every now and then. Instead, they should stay firm to their pre-defined financial goals.  

Planning is vital: Several days before Valentine’s Day, love birds plan this day well in advance, and weigh different ways to celebrate it before deciding upon one. 

Likewise, investors should also plan their financial goals properly and make an array of investments in alignment with it. 

Creativity is the key: On Valentine’s Day, couples try out different gifting options but what trumps all the remaining options is a well-crafted piece of poetry. A creative gift is any day better than the others. 

Similarly, in the world of investing, investors are meant to be creative and not stay confined to the conventional modes of investment such as PPF, FD, debt funds, equity funds, and life insurance. 

One should, at least, explore the option of investing in other unconventional assets such as cryptocurrencies, dynamic asset allocation funds, flexi cap funds and NPS, among others.  

Love is building block: In order to build a long-lasting relationship with someone, it is recommended to first fall in love with that person. A sustainable relationship is an upshot of love.  

Likewise, in order to succeed as an investor, you should, at the outset, fall in love with wealth generation and money. The stronger the love is, the more robust the relationship is expected to turn out.