Child MarriageChild Marriage is a major financial goal for which every parent wants to plan. Though the exact age of marriage and expenses can’t be ascertained to perfection, however, one can always refer to general expenses incurred on marriageand create a fund that may support Child’s Marriage in future.
Child EducationChild Education is probably the first major financial goal for which every parent wants to plan. The costs of professional courses are already high and shall get costlier due to inflation as the time passes.
Building a corpus to meet growing financial needs as children grow is no child’s play. Sample this. Tuition fee for under-graduation at IIT has jumped four times — from RS. 50,000 in 2013 to Rs. 2 lakh a year in April 2016. This is an annual increase of a whopping 60 per cent.
Proper planning to invest systematically is, therefore, essential to meet the ever-escalating education cost. It is important for parents to start investing early and in low cost, transparent investment options to create a large fund to meet the future education needs of the child.