Raising Your Child
Here’s giving you an estimate of expenses that you should anticipate and plan for to meet your child’s requirements.
First 9 months
This stage will require an approximate budget of Rs. 50,000 to 80,000. It includes childbirth and post-natal care expenses like pregnancy test, Doctor visits, check-ups, ultrasounds, blood tests, medicines, baby books/classes, maternity clothes, delivery and hospital charges, post-natal medication and nursing charges, and others.
0 to 3 years
Since this stage marks your child’s first learning step, make sure you plan ahead well. Anticipate expenses within the bracket of Rs. 1.75 lakhs to 2.25 lakhs, which includes baby clothes, accessories, diapers, durables, food, books, toys, vaccines, medicines; Doctor’s fees; crèche and playschool fees, etc.
4 to 13 years
Off to school. Henceforth, your meter of costs starts ticking in thousands. Of course, all these costs would depend purely on each family’s outlook and financial status. You may choose to indulge your children with weekend dinners or order a pizza once a month. We suggest that you keep aside a minimum amount of Rs. 6 lakhs.