Being mother is dream of Most of the female's on this planet , No wonder its considered as the most unique ability given by god to the female's. For many woman's its like getting reborn in terms on new joy , Happiness and responsibility . The experience is painful but for every woman it's something that plays vital role in Her over all life. For entire family entry of the new baby brings in love, caring and different roles to play . At the same time Being mother brings in more financial responsility as it involves various types of expenses .
In older days of Joint family Most female's had less worries about financial expenses related to deliveries and pre post costs for the pregnancy . It was taken care by the elder or supportive members of the family . Now , We know nuclear family structure is more prevailing in india and kids even think about not giving burden of the delivery costs to their parents . On one side its Good thing but for that one must need to be well prepared for .
IDEAL point for starting investments related to child is after the marriage only . Yes in case of live in still it can be done if both partners plan for it . We normally think about child's education first but i think its later part . First we should cover the expenses relatd to the birth of the child . Its Good thing if we can plan Pregnancy fund Which can cover All the money spend related to tests, Medicines , consulting fees , hospital expenses , vaccination and post checkups as required .
Not just this but when baby comes at home then their can be expenses like clothes, interiors ,beds , Furnitures as well . You need to add this to your planned fund .
Even the expense for photo shoot can be considered : if you are really serious about doing it then it can required 5-10k depending on the photo grapher or sets you desired for .
There is another important aspect to this . We have seen many mother's not able to continue their jobs after giving birth to baby . For a family where the home is run by both the partners it will be hard to manage since income of 1 partner gets 0 . if this is the case then planning for extra emergency fund is suitable . Even if you wish to rejoin your work you may face challenges related to physical / mental changes happen within you or may be at your work . So we suggest you to extra cushion of the fund to support this transformation period till you actually get back to your work.
There are chances that your Cos offering the 26 weeks paid maternity leave benfit then it can be of great help to you and one should never hesitate to take it even if you are capable of managing money on your own . This facility is offered by government as a token of appreciation for woman's contribution to society so do take it .
To create such fund you can invest in Mutual funds via SIP or if you have lumpsum amount then invest one time or regulalrly one time .
For ex . if you plan to have child after 3 yrs then you can start with 5000 monthly sip . It can create fund of Rs 2 lakh approx . I think it's decent fund for your needs . if your income is not coming then you can set SWP from this fund of the fixed amount which can cover gap of your no income to some extents.
Health insurance for pregnancy - Even if you are well prepared with above fund its better to have Health insurance as a back up . We all know that becoming mother is like new birth of the woman and there can be certain instances of complications where you will need lot money . If you have adequate health insurance cover offering the pregnancy coverage then it can save your own money . This saved money can be used for funding child's education .
Many companies offer cover for delivery chargs with specific terms related to the amounts covered and features . You can check the plan details to select the plan which suits your requirement most .
in the world where we live today ! its not child's play to raise kids since every thing is so expensive . So the early you begin investing,the more better it is .
Ideal amount of the Sip suggested
we cant generalise the amount one should invest in SIP for pregnancy fund and emergency fund as it depends on the kind of income you have and your dreams related to being mother . May be , sip of 5k - 10k with duration of 3 yrs can built good fund which can help you in enjoying your motherhood stress and worry free !