Children are the future of the nation, they say. A child grows up to become an adult citizen to essay the roles played by the parents and other adult members of the society. They grow up to contribute to the family, the society and the nation. It is every parent’s dream and desire to groom their kids in such a fashion that they become independent financially. The parents also want all-round growth and development of the child. And it is not only the desire of the parents; it is the desire of the society, school and the nation. For making a responsible and earning adult out of a child, some efforts have to be made right in the family. The effort will be directed towards financial gains and investments.
How to start saving for your children. There is one investment plan different from the other investment plan. You may have short-term and long-term goals for your children through an investment plan. One of the most advisable and popular investment plans is monetary gift to the children. A child gets gifts during important moments in its life such as birthdays and so on. The amount thus received as gift should properly be channelized into some investment plan. It should not be kept useless and idle in the banks. It can be invested in equity fund or saving schemes for girls of the government. Some money can be kept in the fixed deposits of the banks. It is safe and it also gains around 7.5 to 8 per cent interest per annum. Some cash can be deposited in Sukanya scheme of the government for a girl child. A certain amount of money can be invested in insurance schemes such as moneyback schemes. Some investment for the child can be made in equity-linked insurance schemes. In the long run, the returns will be quite good. For higher returns, the hybrid funds are supposed to be sensible options. The term investment should be 5 years or more. The public provident fund should prove to be a good option because it is long-term. There are tax benefits also in this scheme. You can save in gold also for your child’s future. you can invest in paper gold or invest in god electronically. In this case, there is no risk of loss and no burden of paying the locker charge. Investment in equity mutual fund is also one of the most sensible decisions. Though it depends on the stock market and thus affected by unstable market condition, over a long period of time the risks are balanced out. If you want to save money for your child, there are plenty of avenues. You should do some research on different options available. You should also consider your ability to invest. Having done these, you can go ahead and save for children and make their life secure.
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