"Let us sacrifice our today so that our children can have a better tomorrow." - A.P.J Abdul Kalam
The birth of a child is a life changing event in a parent's life. From that instant on, there is one tiny little person who clamors for all their attention, and who is now unmistakably number one in their lives!
It was the same in our lives too. Our new baby consumed all our time, thoughts and love. As he grew out of the diaper stage and started becoming an opinionated little man, we decided to put him in playschool, his very first step away from our arms. That was our first step too, into the huge world of educational institutions, admissions and fees - and what a world it was! The situation was nothing like it was when we were young, and their college years are going to be worlds apart too.
That's when we started doing the math. A reliable playschool these days is quite expensive, more than you may expect! And considering that health, safety and education are areas no parent is willing to compromise on; the demand for seats in premium institutions is quite high. But this is just the beginning of a long journey, one that comes to a head during the college admission phase. Kids these days have a wide range of options to choose from, and not just the mandatory medicine or engineering that were the holy grail of careers in our day!
As modern parents, we're more open to our kids choosing a career of their choice. But this freedom of choice is only truly free when we have the peace of mind to think in terms of our children's aspirations and talents and not about the various costs involved. Counting rupees when your child is opening the door of opportunity can prove to be quite a dampener on the proceedings!
So unless you're next in line for a massive inheritance, it is essential to do your homework and plan for your child's future. As with everything, the earlier the better; and it's never too late to start, even if your child is yet to start playschool! Yes, it can feel overwhelming, especially if you're not all that good at math, like me! So to make life easier for us, you can check out Axis Mutual Fund's Do your Homework site that has a lot of information including a sample investment plan. You can also take a test to check how prepared you are for your child's future.
You can also watch this video about an interesting experiment between parents and kids:
But helping your child chase his dreams is fun too! Try out these fun activities with your kids:
While thinking ahead into the future can feel a bit scary, it actually gives you a lot more peace of mind when you know that you have an important aspect of your children's future all figured out. After all, what can warm a parent's heart more than seeing her child flying off confidently into a bright future?
Lots of Love,
