National Curry Week from 7-13 October 2024 is a celebration of the dish, which is an important part of cultures around the globe, including our own.
From traditional Indian curries, to reimagined British classics or fragrant South East Asian dishes, the humble curry is loved by people everywhere.
If you’ve ever tried your hand at cooking authentic curries in your own kitchen, you’ll know that crafting the perfect recipe can be a challenge. Learning how to make a delicious curry will teach you a lot about balancing flavours and the importance of patience in cooking.
But did you know that it could also teach you some valuable lessons about managing your wealth?
1. Finding the right blend of spices could teach you about creating an investment portfolio
The success or failure of any curry recipe typically hinges on the blend of spices that you use. There are thousands of different curries in the world, all made from a unique blend of ingredients. The specific combination of spices you use dictates the flavour, heat, and colour of the curry.
However, if you want to cook the perfect curry, you can’t throw spices in at random. Certain spices need to be cooked for longer than others to release their flavour. Conversely, other ingredients are added towards the end of cooking to release a strong aroma.
As such, when cooking a curry, it’s important to understand what flavour each spice adds, how long it should be cooked for, and which combinations work well.
Most importantly, you need a diverse blend of different spices. A curry that only has one or two ingredients may lack depth of flavour and ultimately, you won’t achieve your goal of creating a delicious dish.
Building an investment portfolio is much the same. If you put all your wealth into one or two investments and they lose value, you may find it very difficult to reach your goals.
If you pick investments at random, they may not align with your financial goals. That’s why it’s important to consider the level of growth each type of investment could offer and how long you may need to hold it for.
Just like your curry spices, you need to find the specific combination of investments that create the outcome you desire.
2. Tailoring the dish to your own spice level is similar to considering your unique attitude to risk in investing
When you visit a curry house, you’ll often notice small chillies on the menu next to the dishes, to signify how spicy it is. If you’re brave and you like it hot, you might opt for a dish with the maximum three chillies, while others who only like a slight kick might choose a curry with one chilli.
If you’re cooking at home and are in control of the recipe, it’s up to you how much spice to include. You’ll likely tailor the heat to suit you and your fellow diners.
When creating an investment strategy, you might view your attitude to risk in the same way as chilli in a curry. Just as some diners can stand a vindaloo packed with hot chillies, certain investors might have a high tolerance to risk.
Yet, you might be more comfortable with a low to medium level of risk and it’s important to consider this when choosing investments.
You might not want to take recommendations about curry recipes from somebody who enjoys a different level of spice to you. Similarly, it might not be beneficial to listen to investment tips from somebody who has different goals or attitudes to risk.
Instead, consider working with a professional to find investments that align with your own unique situation.
3. Patience is crucial when cooking a curry or creating a financial plan
The black daal is one of the most popular dishes at the Dishoom restaurant chain, and recreating the rich, creamy lentil curry requires a lot of patience. The chefs slowly simmer the ingredients for up to 24 hours, so the lentils break down and the flavours gently infuse.
While most curries can be cooked in less than a day, it’s still important to be patient. You often need to cook onions slowly until they’re deliciously sweet, then add spices at different stages to balance the flavours. Once the ingredients are in, you may need to simmer the sauce to thicken it and develop the taste.
There are no shortcuts and if you throw everything in and cook it for 10 minutes, your curry won’t be anywhere near as delicious as you’d hoped.
Your financial plan is the same. There is no quick and easy way to achieve your goals. However, if you regularly contribute to savings and investments for the future, and remain disciplined, you will see your wealth mature over time, like the flavours in your curry.
Unfortunately, you may find it difficult to stay motivated, especially if you don’t immediately see improvements to your lifestyle. This is where we can help by reminding you of your goals and using cashflow planning to show you your savings’ growth potential over time.
By demonstrating how your patience will eventually pay off and supporting you as you overcome hurdles to your financial plan, we could make it easier for you to stay on track.
Get in touch
We can help you create the perfect financial recipe that allows you to achieve your goals in life.
Please get in touch or email us at advice@mlifa.co.uk for more information.
Please note
This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.
The Financial Conduct Authority does not regulate cashflow planning.
The value of your investments (and any income from them) can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance.
Investments should be considered over the longer term and should fit in with your overall attitude to risk and financial circumstances.