Child Investment Plans India: If you are worrying about the future of your child, then this news can prove to be of your use. Every parent’s dream is to provide better education for their child. If you want your child to get a good education in the future, then you should plan it after his birth.
cost of education is expensive
The cost of studying in big colleges and educational institutions in the country and abroad is increasing day by day. A huge amount is being spent in the fees of these institutions itself. So plan your short term and long term goals keeping these expenses in mind and start saving and investing as early as possible.
it costs so much
According to a research, parents have to spend about 36-38 lakh rupees in the upbringing of a child from birth till the age of 21. These include all expenses such as food, clothing, gadgets or education. At the same time, due to rising inflation, there has been an increase of about 7 to 10 percent in all categories.
Expenses for each age group
According to Edufund Research, the responsibilities of parents for the upbringing and education of the child begin from the very birth. From birth to the age of 4 years, about 5-7 lakhs are spent on the education, health, food, clothes and other things of the girl child. At the same time, in a period of 5 to 8 years, this expenditure becomes 6-8 lakhs and at the age of 9-12 years it sits at Rs 8 to 10 lakhs. When the child reaches adolescence (13-16 years of age), the expenditure on education, healthcare, food and clothing increases to Rs 10-12 lakh. Whereas from high school to graduation (age 17-21) this expenditure increases to 34-36 lakhs. If this entire amount is added, then it is about 66 to 68 lakh rupees.
Make your investment like this
Let us tell you that the only way to deal with the expenses related to the upbringing and education of the child is to invest in such an asset class, which will earn you more profit than inflation. Small expenses related to children’s education such as school and tuition fees are easily saved by saving, after 10th and 12th a big amount is needed for preparation of any big college or institute and competitive exam. Its arrangement is accomplished by making long-term investment goals. You will need Rs 1 crore after 15 years for your child’s education. To achieve this goal, you have to start a SIP of 15 thousand rupees every month. If the amount invested grows at the rate of 15 per cent per annum, it will help you to garner adequate funds in future.
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