International Yoga Day: 5 Personal Finance Lessons Yoga Teaches You
When it comes to managing your finances, some essential lessons from the practice of Yoga will stand you in good stead
Evidence of Yoga has been found in the pre-Vedic period (2500 BC). But only in the last two hundred years or so has this Indian invention been recognised all over the world. Yoga brings mind and body together, combining movement, breathing, and meditation. So, unlike a workout at a gym, Yoga is as much of the body as it is of the mind.
In this article, we talk about five personal finance lessons you can learn from Yoga.
1. Discipline and Consistency: You can benefit from Yoga only if you are disciplined and consistent. Same with personal finance. “If you do not have discipline and do not have consistency, both will not work for you,” says B. Srinivasan, director and founder, Shree Sidvin Investment Advisors.
When it comes to your investments which are crucial to meeting your future goals, discipline and consistency are key. For example, discipline and consistency are key if we look at systematic investment plans (SIPs) and their potential to create wealth in the long run. You should not stop your SIPs when the markets are not doing great. Sticking to your budget, saving regularly, and making informed investment decisions are key when it comes to personal finance.
2. Cut Out The Noise: Today, there are a lot of places you can get personal finance information from. The internet is a storehouse of information and sometimes it is difficult to verify what you are reading. An information overload can often lead to distraction.
“Yoga calms the mind and in personal finance, calmness is essential as hyperactivity is counterproductive. Also, yoga makes one focus on what’s essential and leave out what’s superficial. This helps one focus on what’s essential for long-term wealth creation and leave out the noise which distracts one from their goals,” says Abhishek Kumar, founder and chief investment advisor at SahajMoney, a financial planning firm.
3. Do Not Just Follow A Fad: This one is similar to the first point, but it needs to be repeated nevertheless. Today is International Yoga Day and with PM Modi leading a Yoga session in Srinagar to celebrate this day, a lot of us might take up Yoga. Which is a good thing, if we do not forget all about it and then start following some other fad next month. There are a lot of other ways to exercise and stay fit, but if you pick up Yoga, you need to stick to it and not fall for every other fad you come along with.
4. Mindfulness Is Key: Another buzzword that you associate with yoga is mindfulness. What it means is staying in the present moment and Yoga helps you do that. In personal finance, mindfulness is very important as well. For example, staying in the present teaches you how to be mindful about tracking your expenses and ensuring that you do not spend on something you do not need. By making conscious choices about where your money is going, you benefit.
5. You Need A Guru To Guide You: With Yoga being cool, one may go to the Internet, watch a video, and try Yoga at home. But if you are not sure of the credibility of the teacher, and if you do it without proper supervision, it can lead to injury, rather than doing you good. When it comes to Yoga, you need a good teacher or a guru who is qualified to train you. In the same way, when it comes to your money, you need a financial advisor, who has the experience and the right credentials.
As we have mentioned, following investment tips on WhatsApp groups and Telegram channels can be a bad idea and you can end up losing money in the process. Plus, following finfluencers blindly for financial advice is often a recipe for disaster.
“Also, in Yoga and personal finance, nothing is the same for everyone, it needs to be customised for your own requirements,” says Srinivasan. Just as a yoga teacher can personalise Yoga according to your requirements, a financial advisor can customise your financial plan according to your needs.
Celebrate International Yoga Day by looking within... your wallet! Yoga's core principles - balance, focus, and letting go - translate perfectly to financial well-being. Manage your cash flow with mindful spending, prioritise goals, and don't be afraid to adjust your strategy as needed. You've got this!
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