Personal beliefs can have a huge influence on what you do with your money. Sometimes, these beliefs are not based on cold, hard facts but rooted in respected traditions.
One example is the Ghost Month and its effects on financial decision-making. For many, this month is a time to lay low and avoid big movements like starting a business or a new investment.
What exactly is the Ghost Month and how will it affect you as an investor? Read on to learn more about this tradition.
What is the Ghost Month?
The Ghost Month is a cultural practice held across different Asian societies. It falls on the 7th month of the lunar calendar. In 2024, the Ghost Month will run from August 4 to September 2.
According to this Taoist and Buddhist belief, ghosts escape the underworld to roam and indulge themselves on Earth during the month. People must take care of the spirits through offerings and watch out as misfortunes are believed to increase.
For those who observe the Ghost Month, there are some rules to follow to stay safe. These measures include ways to protect one’s physical and financial health.
What to avoid during the Ghost Month
In general, believers avoid making big decisions during the Ghost Month. Here are a few examples of things not to do:
- Major events – Whether it’s opening a business, moving to a new place or job, or getting married, major life events are put off during the Ghost Month.
- Construction – Building or renovating home, office, or business spaces must also be avoided.
- Traveling – Long trips are put on hold during this month. To avoid encounters with spirits, people are advised not go out late at night or do any water activities.
- Investing – Investors avoid putting money in new investments to prevent misfortune.
What does the Ghost Month mean for investors?
During the period, investors who observe the Ghost Month avoid making new investments such as buying new stocks.
With less buyers, stock prices could go down. If this happens, other investors have an opportunity to buy shares at a lower price.
Keep in mind that different factors affect stock market performance. Plus, there are a few other things to consider before investing in a new company.
If you’d like to put things on hold, you might want to look for a safe place to park the cash you’re supposed to invest. You can consider opening a time deposit before the Ghost Month starts so your money can grow at a reasonable rate while you’re waiting.
At the end of the day, it’s completely up to you whether you’ll slow down or invest more during the Ghost Month. What’s important is to know the risks you could face when trying to grow or protect your money.
