Varalakshmi Vratam fasting rules are very strict and this vrat is mostly observed by married woman (sumangalis) for the well being of their husband, children, and other family members. As per Hindu tradition, worshiping the Goddess Varalakshmi on this day is equivalent to worshiping Ashtalakshmi – the eight goddesses of Wealth, Earth, Wisdom, Love, Fame, Peace, Contentment, and Strength.