Five ways to help secure your child’s financial future

NEW DELHI: Parents, worldwide, worry about their child’s future, and strive to secure that with providing quality education and other means. India parents are no exception, but many do not invest in proper financial planning.

Micro and macroeconomic uncertainties such as increasing inflationary pressure, the depreciating Indian rupee, and the possibility of a global recession have made a parent’s job harder.

In this piece, we look at five ways securing your child’s financial future:

Start investing early: Planning investment early for your child can provide you with enough time to save money at your own pace and diversify your investment portfolio with more asset allocation towards equity for better returns.

Anup Bansal, chief business officer, Scripbox, said, “Delaying investments is the most common mistake parents make. This typically happens due to time bias, as parents think they have enough time to achieve their financial goals. However, time is a crucial and irreplaceable part of the investment journey. The sooner you start investing, the easier it will be for you to reach your goals and save for…

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