Every year, the Jain festival of Paryushan concludes with the day of Samvatsari, when Jains seek and grant forgiveness through the phrase: “Micchhami Dukkadam” — “May the misdeeds I have committed be rendered fruitless.” It is a powerful practice of humility, accountability, and renewal. We carry regrets, grudges, and unspoken words that weigh us down more than we realize. The essence of Micchhami Dukkadam is simple yet profound: release, forgive, and move forward lighter and freer.
But beyond its religious meaning, Micchhami Dukkadam offers profound guidance for our relationship with money and wealth. As both a student of behavioral finance and a practitioner of Jain thought, I find that the Five Great Vows (Pancha Mahavratas) of Jainism can illuminate how we earn, use, and think about wealth in daily life.
- Ahimsa (Non-violence)
At its core, Ahimsa is the absence of harm — not just in action, but in intention and thought. Padmanabh Jaini (1979) emphasizes Ahimsa as the “central ethic of Jain life.” Applied to wealth, this vow reminds us that prosperity should not come at the cost of exploitation, unethical practices, or environmental damage. True wealth is created when growth uplifts rather than harms — a principle increasingly echoed in sustainable finance and ethical investing.
- Satya (Truthfulness)
Paul Dundas (2002) explains Satya as the commitment to truth in word and deed. In financial life, truth is the bedrock of trust — whether in contracts, disclosures, or interpersonal dealings. Many financial crises have roots in dishonesty, manipulation, or opacity. Practicing Satya in wealth means being transparent in our intentions, fair in transactions, and realistic in our goals. A truthful relationship with money fosters long-term stability.
- Asteya (Non-stealing)
Asteya extends beyond theft to include not taking more than what is rightfully earned or deserved. Piotr Balcerowicz (2015) interprets it as respect for the boundaries of others’ possessions. In practical terms, this vow speaks against shortcuts, greed-driven speculation, or exploiting asymmetries of information. Patience and fairness in wealth creation — honoring the principle of “live and let live” — become acts of financial integrity.
- Aparigraha (Non-possession/Non-attachment)
Perhaps the most radical and relevant vow for our age of consumerism, Aparigraha cautions against excessive accumulation. Christopher Key Chapple (2002) frames it as freedom from the bondage of material craving. In personal finance, it translates into defining “enough” — living within means, avoiding debt traps, and aligning investments with life’s true purposes. Aparigraha encourages us to see money as a tool, not an identity.
- Brahmacharya (Chastity/Self-discipline)
Jeffery Long (2009) reminds us that Brahmacharya, in its broader sense, is about discipline and moderation. Applied to wealth, it means avoiding reckless consumption, resisting herd-driven impulses, and cultivating balance. Just as discipline in conduct shapes character, discipline in financial decisions builds resilience and peace of mind.
Forgiveness, Finance, and Freedom
On Micchhami Dukkadam, forgiveness becomes a mirror. We forgive others, but also ourselves — for financial missteps, for succumbing to greed or fear, for attachment to possessions that cloud judgment. In forgiving, we let go of emotional baggage and begin again with clarity.
The Pancha Mahavratas remind us that true prosperity is not measured by accumulation, but by alignment: between ethics and action, wealth and wisdom, possession and purpose. As Jain texts and modern finance both affirm — when we bring discipline, compassion, and truthfulness into our financial choices, money transforms from a source of anxiety into a source of mindful living.
On this Samvatsari, may we carry forward the spirit of Micchhami Dukkadam — in our relationships, and in our wealth journeys.
🙏 Micchhami Dukkadam 🙏
- Jaini, Padmanabh S. The Jaina Path of Purification. University of California Press, 1979.
- Dundas, Paul. The Jains. Routledge, 2002.
- Balcerowicz, Piotr. Early Asceticism in India: Ājīvikism and Jainism. Routledge, 2015.
- Chapple, Christopher Key. Jainism and Ecology: Nonviolence in the Web of Life. Harvard University Press, 2002.
- Long, Jeffery D. Jainism: An Introduction. I.B. Tauris, 2009.
Disclaimer:
This article is for educational and informational purposes only and does not constitute investment advice or a recommendation. The views expressed are based on the author’s personal research and expertise in behavioral finance and wealth management, and are not affiliated with or endorsed by any mutual fund house or financial product provider. Professor (Dr.) Meghna Dangi is not a SEBI-registered investment advisor. These are not promotional endorsements of any specific brand or financial institution.