Myth :- --------- According to Hindu mythology, once Goddess Parvati asked Lord Shiva to recommend a vrata that will be beneficial to women. Lord Shiva then mentioned the importance of Varalakshmi vrata. The glory of performing the varalakshmi vratam, narrated directly by Lord Shiva Himself, is elaborately discussed in the Skanda Puranam.
To illustrate the importance of the vrata, Lord Shiva narrates the story of Charumati. Pleased with Charumati’s devotion to her husband and family, Goddess Lakshmi appeared in her dream and asked her to perform the Varalakshmi vrata on the auspicious day of shravana shukla shukra varam.The pious Charumati invited all her neighbors, friends and relatives and performed the Varalakshmi puja as directed by Goddess Lakshmi. Soon after the puja, all the people who participated in the puja where blessed with wealth and prosperity.