9 Best Things to Buy on Dhanteras

It is almost that time of the year when every house shines and sparkles with lights and diyas and is adorned with flowers and decorations. Yes! Dhanteras, the first day of the Diwali festival, is just around the corner!

Have you planned what you're going to buy this Dhanteras? If you haven't, this guide on '9 Best Things to Buy on Dhanteras 2023' has a blend of traditional and financially smart options to choose from!

As you think about the perfect purchases for Dhanteras, why not also consider securing your financial future? Opening a Demat account with INDmoney is a great first step. Explore and manage your investments with ease, starting this auspicious season.

What is Dhanteras?

Dhanteras, also known as "Dhanatrayodashi," is the first day of the Diwali festival. The name combines "Dhan," which means wealth, and "Teras," which refers to the thirteenth lunar day of Krishna Paksha in the Hindu calendar.

Traditionally, people buy gold, silver, and utensils on Dhanteras, believing it brings prosperity and good luck. This year, Dhanteras will be celebrated on Friday, 10 November, 2023.

9 Best Things to Buy on Dhanteras

So, the question arises - what to buy on Dhanteras this year? Read along to find out:

1. Gold, Silver, Platinum Jewelry

Many Indian households wait for occasions like Akshaya Tritiya and Dhanteras to buy gold and silver coins with inscriptions of Goddess Lakshmi on them. They also buy jewelry items like necklaces, bracelets, and rings made of gold, silver, or platinum.

This deep-rooted tradition is so massive that the Indian middle-class population went on a shopping spree over the Dhanteras 2022 weekend, resulting in the sale of approximately 39 tons of gold. This cumulatively amounted to ₹19,500 crore!

Remember, even if you can't buy large quantities, purchasing small gold or silver coins and investing in such precious metal articles can, over time, accumulate and serve as a form of savings.

2. Insurance

Dhanteras is an ideal occasion to invest in the well-being and future security of yourself and your loved ones!

Health Insurance: By investing in a health insurance policy on Dhanteras, you can safeguard yourself and your family against unexpected, hefty medical expenses and keep your savings intact for future needs.

Term Life Insurance: Life is full of uncertainties, and while we hope for long, fulfilling lives, we must prepare for any mis-happenings. You can ensure your family is taken care of even in your absence by investing in term life insurance plans.

3. Home Appliances and Electronics

Is your washing machine making rusty noises? Or does your refrigerator need an upgrade? Dhanteras is the perfect day to purchase home appliances and electrical items.

Investing in energy-efficient gadgets can enhance your living experience and ensure long-term savings on utility or repair bills. Be it a smart refrigerator or the latest home entertainment system, you can blend tradition with technology by adding these purchases to your Dhanteras 2023 shopping list.

4. Mutual Funds

Over the years, mutual funds have emerged as a go-to investment choice for many. And why not? They provide a disciplined approach to investing and allow you to ride through market ups and downs. So, as you contemplate what to buy on Dhanteras, how about starting your investment journey?

Dhanteras 2023 can be the ideal time to start this investment journey. Depending on your risk appetite and goals, you can explore various mutual fund categories, making it a strategic addition to your Dhanteras shopping list.

5. Equity 

When we think about what to buy on Dhanteras, equity might not be the first thing that pops up. However, it's an avenue that holds potential for long-term growth. Investing in equity, especially on an auspicious day like Dhanteras, can be a fresh approach to welcoming prosperity.

The stock market offers opportunities for your wealth to grow over time, but remember, it's essential to do thorough research and adopt a long-term strategy to reap significant returns.

6. Utensils and Kitchenware

You must have seen people crowding up inside kitchenware stores just before Dhanteras. Ever wondered why? Well, the age-old custom of buying utensils made of gold, silver, or brass on Dhanteras is there because people believe that buying utensils on this day would ensure a regular flow of wealth throughout the year.

You can also honor the traditions and have upgraded kitchenware by purchasing utensils on Dhanteras.

7. Purchasing a Home

Many of us dream of owning our own place. And when it comes to making such a significant investment, timing can be everything. As the festive season approaches, property builders offer great deals on real estate, and banks present appealing home loan offers.

So, why not consider Dhanteras, a day symbolizing wealth and prosperity, as the perfect time to make that dream come true? Securing a home on Dhanteras 2023 could be both a nod to tradition and a solid step toward a secure future.

8. Purchasing a Vehicle

While Dhanteras is often linked with buying gold or utensils, many also see it as the ideal day to get a new automobile, be it a car or bike. Vehicles might not be "investments" in the traditional sense since they depreciate, but the significance of Dhanteras makes it a popular choice. And with dealers offering tempting deals around this time, it's no wonder many decide to kickstart new journeys on this special day.

9. Starting a Retirement Fund

Why settle for short-term prosperity when you can secure your future this Dhanteras? Instead of just buying gold or a new gadget, think about the long game: your retirement.

With compound interest, even your small monthly contributions can grow your savings substantially. By the time you retire, this Dhanteras decision could result in a huge corpus, ensuring you enjoy a relaxed and financially secure retirement.

Conclusion

Dhanteras offers a unique blend of tradition and opportunity. Therefore, diversifying your purchases to include both traditional items and long-term investments can help build a more secure financial future while honoring the traditions and culture.

For further insights on managing your finances, explore 'How to Calculate F&O Turnover' & 'Best Personal Loans in India'. And if you want to read articles on making the most of your investments, stay tuned for our future articles!

Disclaimer: This blog is solely for educational purposes. The investments quoted here are not recommendatory.