The Festival of Lights, Savings, and Emotions
Diwali — the festival that fills every Indian home with joy, laughter, and light — has always been more than just a celebration. It’s a time of togetherness, renewal, and yes, shopping! From new clothes to sweets, gold, and home décor — every purchase carries the warmth of festivity and the spirit of giving.
But if we look closely, Diwali shopping has changed — not just in what we buy, but how we buy. The financial doctor, Mr. Prakash B Joshi, beautifully points out that the transformation of Diwali mirrors the transformation of India’s financial habits itself.
Then: When Diwali Was the Season of Savings
Go back a few decades — when Diwali was the moment everyone waited for all year. Salaried employees received their annual bonus, and that money wasn’t just spent — it was planned. Families saved bit by bit for months before Diwali. There was excitement in buying something new, but it was always within means.
Back then, shopping lists were handwritten. Mothers compared prices at local stores, children got one new outfit, and sweets were homemade. Gold was purchased not as a luxury, but as a secure investment — a way to preserve family wealth for generations.
Every rupee had a purpose. Every purchase carried pride.
Diwali was a festival of planned prosperity.
Now: The Age of Credit Cards and Flash Sales
Fast forward to today — Diwali has turned digital. Online mega-sales, instant EMIs, and “buy now, pay later” offers have replaced the calm patience of old. While technology has made life convenient, it has also changed how we see money.
Credit cards, UPI payments, and digital wallets have made spending frictionless. But in this ease, we often forget that it’s still our future money.
As Mr. Prakash B Joshi says,
“Today, people celebrate Diwali on credit — and pay for it long after the lights fade.”
Many households fall into a festive spending trap — buying gadgets, jewellery, or luxury items without checking their long-term financial balance. Instead of Diwali being the festival of wealth creation, it has silently become a festival of debt accumulation for many.
Then vs Now: A Reflection of Changing Money Mindsets
| Aspect | Earlier Days | Today |
| Shopping Approach | Saved through the year for Diwali | Buy instantly with credit or EMI |
| Financial Discipline | Family budgeting and prioritizing | Impulsive spending during sales |
| Investment Outlook | Gold, savings, and post-office schemes | Short-term luxury and gadgets |
| Emotional Value | Fewer but meaningful purchases | More purchases, less satisfaction |
This comparison is not to criticize modern lifestyles — but to remind us of the emotional and financial wisdom our elders followed.
Lessons from the Past for a Smarter Present
Mr. Prakash B Joshi explains that celebrating with wisdom doesn’t mean compromising on happiness — it means balancing joy with security.
Here are some timeless money habits we can bring back this Diwali:
- Set a festive budget – Decide how much to spend before you shop. Allocate portions for gifts, décor, and charity.
- Use bonuses smartly – Invest at least a part of your Diwali bonus into mutual funds, SIPs, or a family goal.
- Avoid impulse buys – Ask yourself, “Do I need this or do I just want it?”
- Celebrate value, not volume – Fewer, meaningful gifts make celebrations richer.
- Teach kids the joy of planning – Let children see that savings can also bring happiness.
Diwali of the Future – Lighting Financial Wisdom
India’s financial culture has evolved — and so should our awareness. Diwali can still be the most joyful festival, but let it also be a reminder to light up our financial future.
As Mr. Prakash B Joshi, the Financial Doctor, emphasizes:
“True wealth is when your celebration brings happiness today and peace of mind tomorrow.”
So this Diwali, let’s shop with heart, plan with mind, and celebrate with balance. Enjoy the glow of diyas, not the glare of EMIs.
Conclusion: The Light of Financial Awareness
The Diwali of old taught us how to value money, relationships, and gratitude. The Diwali of today teaches us convenience and speed. The perfect celebration lies in combining both — embracing technology while preserving financial discipline.
May this festival bring you light, laughter, and Lakshmi — both spiritual and financial.
And as Mr. Prakash B Joshi, Financial Advisor in Borivali would say —
“Celebrate Diwali, not your credit limit.”
