The Varalakshmi fasting is observed on the last Friday during Shravana Shukla Paksha and falls just few days ahead of Rakhi and Shravana Purnima.
Varalakshmi Vrat is suggested not only for women but also for men. However, in Andhra, Telangana and Maharashtra regions, Varalakshmi fasting in mainly performed by married women only. The Varalakshmi fasting is performed with the desire of worldly pleasures and it includes children, spouse, luxury and all sorts of earthly pleasures.
Varalakshmi Vratam is very popular fasting and Puja day in Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Maharashtra. In these states, Varalakshmi Puja is performed mostly by married women for the well-being of husband and the other family members. It is believed that worshipping Goddess Vara-Lakshmi on this day is equivalent to worshipping Ashtalakshmi i.e. the eight Goddesses of Wealth (Sri), Earth (Bhu), Learning (Saraswati), Love (Priti), Fame (Kirti), Peace (Shanti), Pleasure (Tushti) and Strength (Pushti).
However, in North Indian states Varalakshmi Puja is not as popular as those of South Indian states. Varalakshmi Vratam is one of the most appropriate days to propitiate and to seek blessings of the Goddess Lakshmi.