Get the Victory over your Financial Hindrances this Dussehra
Festivals, cultures, and traditions, form the cornerstone of India. We Indian celebrate for all good reasons and spread happiness around us. Every festival reflects the different cultures of India and teaches us many lessons in one or the other way to make our life better.
Dussehra is one of the auspicious festivals which is celebrated across India but in different manners. The victory of Lord Rama over Ravana signifies the victory of good over evil. In the northern part of India, it is celebrated as Dussehra. The festival of Ram Leela is celebrated in many places. On the same day, Vijayadashami is celebrated in many parts of India, which symbolises the victory of Goddess Durga over the buffalo demon Mahishasura They glorify this festival as Durga Puja or Durgotsav. In the state of Gujarat, the festival of Navaratri is celebrated by way of playing Dandiya and Garba. Heading toward the southern part of India you will find that in Tamil Nadu and other states of South-India, there is a tradition of commemorating the one’s Guru on this auspicious day of Dussehra. On this day they celebrate Shami Puja by worshipping the Shami tree and respecting the Gurus.
Thus, this special day is celebrated across India in different styles, but the message it conveys is same from all sides, i.e., wiping out the sins by inculcating the healthy habits. So, you must not forget to wipe out your myths about the mutual fund and inculcate the good habit of saving your money in the best way. We are revealing some common myths about mutual fund investments that you should wipe out of your mind and instill the habit of saving for your prosperous future.
Common Myths of Mutual Fund Investments:
- Mutual Funds mean Stock Market : This is the biggest myth of many uninformed people that stops them stepping into the amazing world of mutual fund investments. MFs are entirely different from the stock market trading in terms of the process. Stock market requires complete information to trade in it whereas a layman can also invest in the mutual funds and create wealth.
- Need a Large Amount to Invest : Investment in mutual funds can be started even with a small amount of Rs. 500 through Systematic Investment Plan (SIP). Therefore, start from today to multiply the value of your money and create a corpus to attain your financial dreams.
- Returns are Guaranteed : Many investors have this misconception about MFs that they do not carry any risk and ensure the returns on investment. Fact is, mutual fund investment does not guarantee any returns but it is the excellent management of the fund managers who made the investments less risky, unlike stock trading.
- High Rated Schemes Reap Higher Benefits : Again, this is one of the greatest myths of the investors that lead them into wrong investments. There is no such rule that a high rated fund reverts with higher returns. The rating agencies provide star ratings to the various funds on the basis of their past performances and do not site any future forecasting for the funds’ returns or performance. No one can predict the future market movements; the analyst only estimates the probability based on the historical occurrence. Therefore, don’t chase only top-rated schemes, make investment based on your requirements.
The Financial Habits You Should Instill This Dussehra
- Get the Right Financial Diet : To become a successful investor you should always know where you are investing, why you are investing, and what you will achieve from your investments. In short, you need to plan all about your finance that how much you need and when, and from where you will get that amount.
- Get the Debt Away : One more important factor which may create a leakage in your profit books is the debt portion. You must always try to be away from debts, and if you already have any then try paying it off soon rather paying the significant amounts of interest on it.
- Start Investing : Start investing in the most suitable mutual fund, which meets your financial objectives. To know the suitability of the funds, you can check the investment details of the schemes and match it with your financing needs.
- Create Disciplined Habit of Savings : It is essential to building a disciplined practice to achieve success in any work. To reach your investment goals successfully, you need to instill the habit of regular savings. If you invest through the SIP process, it automatically builds the practice of saving periodically.
- Stick to Your Commitment : Sticking to the investments is the only way to reap the long-term benefits of the equity mutual fund investments. In case if you desire to fetch the high growth, do not get isolated with the small fluctuations. The better approach is to stick to your investments as the returns get accumulated in the long run to create huge wealth.
Henceforth, adopt healthier habits and conquer over the myths of mutual fund investments to smoothen the process of your investment. It helps you to stay more involved in earning better returns.
We, the entire team of MySIPonline greets you warmest wishes and lucks on this auspicious festival of Dussehra. Happy Dussehra.
- LTCG Tax Is Not As Negative As it Seems; Here’s Why?42904 min read Jan 01, 1970
- Sensex Plunges Over 1000 Points; Should You Buy or Hold Your Investments for Correction?43833 min read Jan 01, 1970
- Sensex Dives Nearly 840 Points: Things to Consider and Experts’ Take44783 min read Jan 01, 1970