The sacred festival of brothers and sisters – Raksha Bandhan is just around the corner. Are you wondering what to gift your sister this Raksha Bandhan?
According to the Hindu calendar, Shravan is the holiest month, with a host of festivals like Nag Purnima, Janmashtami, Narali Purnima and Rakhsha Bandhan. In Sanskrit, Raksha Bandhan symbolises the tie or knot of protection promised by a brother to his beloved sister. This auspicious festival of Rakhi is celebrated in several parts of India to honour the love and onuses of brothers and sisters toward each other.
Instead of gifting the conventional chocolates, dry fruits, apparels, etc., consider gifting your sister financial protection this Raksha Bandhan. Isn’t this an excellent idea? As the real meaning of this festival is to shield your sister from all the difficulties (including financial ones), financial independence would be the best thing to gift her. Such a thoughtful move will not just come as a pleasant surprise to your sister, but also be an evocative step to safeguard her financial future – something that aligns with the spirit of Raksha Bandhan.
One such financial security is Systematic Investment Plan, also known as SIP. SIPs run on the popular philosophy of ‘Save First, Spend Later’ which makes them a fit gift for the occasion. Gifting an SIP would be equivalent to any travel, gadgets, leisure, and monetary help gifted in the previous years. SIP adds up to the financial independence of an individual. This gift would bridge the gap between the unfulfilled desires your sisters may have such as a long-planned foreign trip, some educational courses, etc.
What is SIP?
SIP is a tool to invest in mutual funds. Under SIP investments, an investor invests a fixed amount in predefined intervals for a period of time. SIPs were introduced to match the pockets of investors who can’t afford huge investments. Mutual fund SIPs are considered as the new contemporary doorway to investments, relatively simple investments. It enables a small amount of investments that can be done daily, weekly, quarterly, monthly, or annually.
You can invest in SIP with an amount as low as Rs500 per month and increase it later using a step-up SIP according to your disposable income and your convenience.
Investing in mutual funds via an SIP approach ensures that your fund manager invests in a pool of securities. This enables the fund to offer decent returns even if some of the securities tend to underperform. This provides a sense of financial security to your sister and can be the ideal gift for Raksha Bandhan.
Also, this gift is a promise to your sister that you would be by her side during the ups and downs of her life. SIP can act as your assistance here, as it can also be used as an emergency fund. In case of crises, she need not turn to any borrowings but be independent and responsible dependent on the SIP you gift her. Happy investing and Happy Raksha Bandhan!