Plan A Minimalist Diwali: Festive & Traditional Yet Budget-Friendly

A minimalist Diwali does not mean a dull Diwali or giving up on traditions.

- Meghna Maiti

It is about focusing on what truly matters—maintaining your financial health by spending smartly. Don't give in to the GST rate cut nudge and overspend

This Diwali rings different. Due to the recent cut in the goods and services tax (GST) rate, there is optimism in the air as the financial burden on households has reduced. It will provide relief to households with children, those who spend substantially on healthcare, and those planning to buy big-ticket items like cars under 1,200cc and white goods like air-conditioners and televisions, among others.

But it is in periods like these that a lot of people tend to overspend, too. Tempted as you may be to spend more, don't let the emotional nudge of saving on GST push you into overspending because there are other uncertainties looming given the steep US tariffs and geopolitical situations.

Instead, the sensible thing to do would be to assess how much saving this rate cut will translate into. Our estimate is the impact won't be huge on everyday items in most cases.

It is your own individual situation that should guide your spending decision. Diwali is the time to emotionally connect with your loved ones over festivities, food and fun. It is also the time to take stock of your financial health, and if spending big is not something you can afford to do, then so be it. There is always the option to go minimalist—after all, Diwali is about new beginnings.

Says Amit Suri, founder of AUM Wealth, a financial services firm, and a certified financial planner (CFP): “A simple puja at home, lighting diyas together, and spending quality time with loved ones can keep the cultural fabric intact while cutting down on costs. Minimalist celebration is about shifting the focus from what money can buy to the memories we create.”