Is it expensive to raise a child in India? #HerMoney with Monika Halan
'Indian women deal with money differently' - says Monika Halan, consulting editor, Mint Money, and a certified financial planner. She talks about why women in India should keep their investments and balance sheets in order. She recently published a book, #LetsTalkMoney that serves as a DIY for personal finance.
This video-article is a part of a #HerMoney series with Monika Halan, that explores women in India and money. In this edition, we explore how expensive is it to have a baby in India.
Your Story: Is it expensive to have a baby in India?
Monika Halan: When you have a baby, yes, your finances will go up a bit, but it doesn't need to be expensive. Especially, if it's a normal delivery.
In the initial years, the babies don't need expensive toys. They need their mom and dad. So, hug them a little more instead of more toys, clothes etc. New parents go haywire buying unnecessary expensive stuff. The big expense will be education, so hold on to your money until then. Even schools are very expensive nowadays. Consciously, put that money in a mutual fund for their education. Spend more time with your children. That's enough.
On Wednesday read: Money Advice for women entrepreneurs.