Dusshera is one of the most significant festivals celebrated across the length and breadth of India in its full grandiosity and fanfare. Also popularly known as Vijayadashami in southern parts of the country, Dusshera marks the victory of good over evil. As per mythology, it is celebrated in connotation to three different events.

  • In honour of Goddes’s Durga’s victory over Mahishasura, the buffalo demon!
  • In honour of Lord Rama’s victory over the ten-headed devil king Ravana.
  • And as per Mahabharata, marking Arjuna’s single-handed win over the multitude of Kaurava army.

But what is the true essence of celebrating Dusshera? Are we permitting ourselves to seek and understand the message that is imparted through this festival over generations?

Dusshera instills hope and the existence of good virtues in humanity to defeat our inner demons. So that we too may overcome our fears, doubts, and vices by practicing discipline, patience, perseverance and continue to seek knowledge and wisdom to lead a fulfilling and successful life. This profound message applies to many aspects of our lives, including our finances. Let us contemplate some of our financial vices that need to be rectified.

Not having Financial goals

“A goal properly set is halfway reached” – Zig Ziglar.

Most of us fail to set any financial goals. While it’s hard to predict the future, it’s worth considering what kind of life you wish to have for yourself and your loved ones. You may want to buy a house, a car, travel the world or save for your child’s education, and much more. But how are you going to achieve it? Give yourself some financial goals. It will provide you with clarity of direction and take you a step closer to your dreams. Failing to set financial goals can cost you immensely in the long run. List down your dreams and set Specific, Measurable, Achievable, Realistic, and Time-bound (SMART) goals and be determined to adhere to them. Just like goddess Durga who portrayed the virtue of determination in defeating the demon Mahishasura.

Not maintaining an Emergency fund

If this pandemic has taught us anything, it is to be prepared for any sort of crisis life can hurl at us. It could be a job loss, an unanticipated medical bill, an educational fee hike, etc. During such dire situations, the absence of an emergency fund can find you regretting not creating one in advance. So it is an absolute must. Yet, many of us don’t create one. Remember, Prevention is better than cure.

By rule of thumb, setting aside an amount equivalent to 6 to 12 months of essential expenses, including EMIs, can cushion emergency situations. It calls to reflect on the virtue of discipline Lord Rama endured while in exile.

Not Diversifying your Assets

Most of us make the mistake of putting all our eggs in the same basket. Not diversifying your assets can prove to be risky. It’s crucial to take advantage of investing your hard-earned money in different asset classes such as equity, debt, and likewise.

“An investment in knowledge pays the best interest” – Benjamin Franklin.

Diversifying will help you dodge risks and also pave the way to save a lot of money that you could have lost due to added risks. You can best achieve this under the guidance of a financial expert. Seeking knowledge and prosperity is like venerating goddess Saraswati and goddess Lakshmi, the two different avatars of goddess Durga.

Not holding any Insurance cover

Life is so unpredictable. We see people facing unforeseen circumstances like accidents, medical emergencies, or the loss of the only breadwinner in the family. Yet, we assume that it may never happen to us and procrastinate to invest in an insurance cover that can come to our rescue during a crisis. An insurance cover also helps reduce the burden of monetary stress in trying times. It can act as a safety net for you and your loved ones to fall back on during medical emergencies or even loss of life. Investing in a term plan and health insurance that best suits your profile is advisable.


While we find ourselves occupied in carrying out the rituals and enjoying sweets with our loved ones as we celebrate Dusshera, let us also take some time out to pause and reflect within and seek the vital learnings this festival has to offer. Let us ponder on our relationship with money and vow to liberate ourselves from our financial vices and foster wise money habits. It is never too late for new beginnings. And what could be a better occasion than Dusshera to commence.

Happy Dusshera!