OCAAT Weekly Roundup and A taste of India : Diwali Edition

Welcome Readers to the Deewali edition of my weekly roundup. As many of you know I am an immigrant to USA from India where I spent 28 years of my life.

India’s population consists of 80% Hindus. Diwali is the biggest Hindu festival of the year except few corners of the country where one or two local festivals have more acceptance over Diwali.

Last week on 26th October people in India celebrated Diwali. Here in US, we celebrate over week end as its more convenient for the people at work. Needless to say back in India its a national holiday. Each year the date varies in accordance with ancient Indian lunar calendar.

Diwali, often called the festival of lights, have been celebrated since thousands of years. We light earthen lamps to welcome good spirits (in the form of god and goddess) in our home and we burst fire crackers to keep evil spirits away.  Diwali is a celebration of victory of good over evil.

Imagine a scene where millions of people come out of their homes and are firing firecracker and lighting lamps (and modern lights) around their home, patio and balconies., windows, doors. It’s a Christmas on a much much bigger scale. Easier to visualize the event if you consider 4th of July is being celebrated in every nook and corner of the country (not only in designated areas) for 6 hours. Same light and same atmosphere and intensity.

Deewali celebration in India, Mumbai

This day has huge significance in terms of financial matters. It is start of a new financial year.

Although its a national holiday and all financial institution remain closed, Indian stock market opens for an hour in the evening and people usually place buy orders because its considered as good omen for the year to come since, Deewali marks the beginning of financial calendar for a lot of businesses and stock brokers. Since basically every small investor buys on this special session, non believers take the opportunity and sell their holdings at profit. Basically for last few years the special session returns the market flat.

Diwali reminds me of my childhood. Creating earthen pots, air drying and then putting oil and cotton. Making a decoration by lining the lamps in different patters, burning firecrackers, lighting candles, competing with other kids on the distance traveled, height attained and longevity of firecrackers.

We are celebrating Diwali tonight within our local community. Once I am done with this post, I’ll head over to the temple and take part in a much normalized and miniaturized event compared to the one celebrated back in India. Still I am happy that I get to celebrate Diwali here. Even though I am out of India, India is not out of me.

Roundup

Good news! One of our fellow Yakezies became a millionaire last week, as his net worth crossed the mark one fine morning. Still he’s not excited enough. Is it true that money can’t buy happiness?  Read on becoming millionaire by Brave New Life.

Wealth Informatics presents a baby’s guide to investing basics. Little piggy wants to retire. Could be a great lesson for your kid if you want to teach money at an early age.

Smart Family Finance describes the reasons why banks are charging fees and what can consumer do to avoid being charged.

I have a special liking for inspiring articles on career and productivity. I want to climb to the top of the ladder myself and when someone describes a real life hero (ine) going from bottom to the top, I really get inspired. Family Money Values presents the life of Xerox Corp. CEO Ursula Burns. Read and get inspired.

The Frugal Toad writes about 5 very basic steps to control spending. Sometimes re learning the basic principles can help you identify the slack in your personal financial habits.

Be a contributor to wealth creation and help mother nature by going the green business route. Read what you need to do to start a green business at Sustainable Personal Finance.