Ramayan describes Ravana as a powerful individual, but his arrogance and overconfidence led to his downfall. There are 7 lessons we can learn from his story, to achieve financial freedom…
In the epic Indian mythological tale Ramayana, Ravana is known for his power, wisdom, and wealth. His hubris and overconfidence doomed him. We may not have Ravan’s superhuman powers, but his story can help us reach financial freedom. Financial freedom lets you live your life without financial restraints. Let’s see how Ravan’s traits can help us manage our money and become financially independent.
Avoid arrogance and overconfidence.
Arrogance and overconfidence can hurt personal finances. Remember that financial stability is not guaranteed, and unexpected events can derail even the best-laid plans. Be humble and realistic about financial difficulties.
Diversify your riches
Ravan ruled Lanka and was rich. He kept all his wealth in Lanka. He was susceptible to Rama and his army due to his lack of variety. Putting all your money in one investment or asset class is dangerous in personal finance. Diversity reduces risk and ensures you are not unduly dependent on one income or investment.
Avoid excessive debt.
Ravan borrowed significantly from Shukracharya for power. This huge debt rendered him susceptible to Shukracharya’s influence. Excessive personal debt might also hinder financial freedom. To become financially independent, manage debt well. Avoid excessive debt.
Save and invest well
Ravan mismanaged his great money. Spending lavishly on his pleasures left him exposed when his kingdom was assaulted. Save and invest to obtain financial freedom. Create a budget to save a percentage of your money regularly. Invest your savings in equities, mutual funds, bonds, REITs, Sovereign Gold, etc. that can increase.
Stop being greedy
Ravan’s reckless decisions caused his downfall due to his quest for power and fortune. Greed can cause impulsive and risky financial actions including overextending credit, investing in high-risk companies without expertise, or not investing for the future.
Consider the long term
Ravan sought short-term rewards and immediate happiness. His lack of long-term planning doomed him. In personal finance, long-term thinking is essential. Set long-term financial goals for financial freedom. Having a financial plan will help you buy a home, pay for college, or retire comfortably.
Lesson 7: Give back.
Arrogant and selfish Ravan used and hurt people. Conversely, financial independence should mean assisting others and giving back. Make charitable giving part of your financial plan.
Ravan’s Ramayana narrative warns against hubris, greed, and poor financial management. We can reach financial freedom by learning from his mistakes and applying them to our finances.
Conclusion
Lankan ruler Ravan was powerful and affluent, but his hubris and overconfidence brought him down. His narrative can help us avoid hubris, diversify our money, avoid excessive debt, save and invest intelligently, not be greedy, plan for the long term, safeguard our assets, and give back to society to attain financial freedom.
Arrogance and overconfidence can hurt personal finances since unexpected events can derail plans. Diversification spreads risk and prevents overreliance on one income or investment. Ravan borrowed significantly from Shukracharya to gain power, which can limit financial independence.
Saving and investing prudently are essential for financial freedom, since Ravan’s lavish spending left his realm vulnerable to assault. Greekness can lead to rash financial actions including overextending credit, investing in high-risk companies without expertise, or not investing for the future.
Ravan prioritized short-term benefits and urgent desires, therefore long-term planning is crucial. Protection from dangers is crucial, and insurance can assist.
