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Are You Financially Ready to Bring Up Your Little One?
The joys of parenthood are undeniable, and the experience of raising a child is richly rewarding. Understandably, throughout the journey of parenthood, you may want to give your children the very best of everything in life. However, a leave-no-stone-unturned approach requires not just love, constant involvement and enthusiasm, but ample finances too. In fact, the road from infancy to adulthood is dotted with significant expenses, be it be related to healthcare or education.
Read on to know how you can prepare for a child financially.
Make a Rough Estimate of the Finances You Require
Today, there are several avenues for quality education, recreation and healthcare services, but it is important to set some savings aside to fund these expenses. This is especially important, as these expenses have risen by leaps and bounds in the recent past, and the same cannot be said about annual wages. So, planning is a must, and a good way to start is to estimate the range of expenses that will come your way.
Your first step can be estimating pre-birth and first-year expenses. For instance, data from The Economic Times report indicates that you may need about Rs. 5.25 lakh during the initial 12–18 months of your child’s life.
Cost of living
Healthcare
Pre-delivery and delivery
House help
Total
Rs. 45,000
Rs. 30,000
Rs. 2.5 lakh
Rs. 2,00,000
Rs. 5.25 lakh
A Times of India report goes further, indicating that you are likely to require a sum that’s upwards of Rs. 65 lakh for your child, from cradle to graduation. This is split over the years as follows.
0-4 years
5-8 years
9-12 years
13-16 years
17-21 years
Total
Rs. 6.2 lakh
Rs. 6.9 lakh
Rs. 8.4 lakh
Rs. 10.5 lakh
Rs. 35.4 lakh
Rs. 67.4 lakh
On observing the table, you’ll notice an increase in the amount required when your children are about to achieve adulthood. This is because of the higher cost of education involved. As per The Economic Times, here’s how much you may have to set aside for your child’s higher studies.
Engineering
Medicine
MBA
Higher education abroad
Rs. 9.2-15.6 lakh
Rs. 0.25-25 lakh
Rs. 14-22 lakh
Rs. 11-68 lakh
These figures are indicative and often consider upper limits and costs in metro cities. Nevertheless, using this as a guideline will help you arrive at an inflation-adjusted estimate for the future.
Analyse Particulars and Create Monthly Budgets
All of this information may seem intimidating, however, it needn’t be so. As a parent, you can consider it to be an opportunity to showcase sound financial planning. At the end of the day, it is possible to break down the total into smaller amounts and work towards achieving it.
For instance, for a newborn, consider one-time expenses such as those related to delivery and furniture such as strollers, cots and changing tables, and then account for recurring expenses such as toys, clothing, healthcare, domestic help, and infant and toddler classes. This will help you determine accurately how much you’ll require for this stage of your child’s development. Accordingly, you’ll be able to adjust your existing expenses and create enough room in your budget.
Consider an Insurance Policy and an Emergency Fund
Insurance policies can greatly reduce your financial burden, especially if a complication is involved. You could avail a family floater plan, opt for an add-on to your existing health plan or simply rely on your company’s group policy. Depending on the particulars of the policy, you’ll get coverage for pre-and-post-hospitalisation and/or delivery expenses at a budget-friendly premium. Similarly, to ensure that you are prepared for every eventuality, work towards building an emergency fund that is equal to 12 months’ household expenses. In the event of a recession or sudden job loss, this amount will ensure that you can continue to provide your child with quality care.
Learn About Advantageous Government Schemes
Periodically, the Government of India rolls out schemes benefitting expecting mothers and newborns that alleviate any financial burden and provide access to good medical facilities. For instance, the recently-launched Surakshit Matritva Aashwasan or SUMAN scheme provides free healthcare to pregnant women, new mothers, and newborns. Pulse Polio and PM Jan Dhan Yojana are other beneficial schemes to consider. These schemes, in combination with maternity leave of up to 26 weeks as per the Maternity Benefits (Amendment) Act, can help you ease into parenthood and enjoy the process instead of being stressed.
Earmark Investments Instead of Taking Loans
On making a budget and noting the Government schemes available, you’ll realise that arranging the necessary finance to raise a child is a goal that you can achieve confidently. That said, how you go about doing this is crucial too. By investing right from when you’re planning to have a child, you can ensure that you have the necessary amount at every stage of your child’s life. With sizeable maturity proceeds available periodically, you’ll never feel the need to take a loan to provide your child with an exemplary upbringing.
To make your savings grow substantially, it’s best that you create a balanced portfolio that includes high-yield instruments such as stocks and mutual funds, as well as safe instruments that offer substantial, assured returns, such as the Bajaj Finance Fixed Deposit.
The outright advantage of picking an asset that carries ICRA’s and CRISIL’s maximum stability ratings, MAAA and FAAA respectively, is that you get guaranteed returns at a rate of up to 8.35%. In fact, you can forecast your returns precisely by using an FD calculator.
To understand how this instrument can bolster your efforts, take a look at your returns as a regular investor when you park Rs. 10 or Rs. 20 lakh for a period of 5 years and opt for proceeds at maturity only.
Deposit (Rs.)
Interest rate (%)
Tenor (years)
Maturity proceeds (Rs.)
Growth of investment (%)
10,00,000
8.10
5
14,76,143
47.6
20,00,000
8.10
5
29,52,286
47.6
Now that you know how to prepare for a child financially, you have no reason to fret. Whether it is opening an FD, evaluating insurance plans or looking for lucrative investment options, an early start is the best way to ensuring a smooth, worry-free journey! Read more
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What Does Baby Skin Need in Summer? Five Essentials to Protect Your Baby!
Summer is around the corner, and everyone will soon prep to deal with the heat. All the light cotton clothing will come out, and your shopping list will soon have extra sunscreen lotion and cooling beverages. However, when there’s a baby in the house, the list of essentials needs to be carefully made and revisited several times to ensure nothing that the baby needs is missed out. This article aims at providing you with some essentials your baby’s soft, delicate skin will need during summer to keep it cool and nourished. What are we waiting for then? Read on to find out what these essentials are! Read more
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Dealing With Dysarthria In Toddlers
Dysarthria is one of many types of speech disorders in toddlers. However, with the help of an SLP, treatment can help a child learn to speak properly. Educate yourself about this disorder and know what symptoms to watch for so you can seek help.
Speech disorders can hamper a child’s development and cause worry to parents. The good news is that with timely diagnosis and treatment, children can learn to speak clearly. Dysarthria is one such speech disorder. Knowing the causes, signs and treatment can equip you with the knowledge needed to help your child speak well.
What Is Dysarthria And What Should You Expect
Dysarthria is a motor speech disorder, resulting from impaired movement of the muscles used for speech production such as the lips, tongue, vocal cords, or the diaphragm. Dysarthria is often characterised by slow or slurred speech that may be difficult to understand.
What Causes Speech Problems in Toddlers?
Speech disorders in children can be caused by many factors. It could be a learning disability due to the brain working differently. Some toddlers who have a hearing disability could develop a speech disability as well. Other reasons include neurological problems like cerebral palsy, muscular dystrophy, and traumatic brain injury.
What Causes Childhood Dysarthria?
Several nervous system problems such as brain injury, brain tumours, and other conditions that cause the tongue or throat muscles to weaken can cause dysarthria. It can be caused at birth due to disorders such as cerebral palsy or it can occur later in life owing to conditions such as Parkinson’s disease, Lou Gehrig’s disease, and tumours. Some medications like narcotics and sedatives can also cause dysarthria.
What Are The Characteristics of Dysarthria In Toddlers?
Like many health conditions, the signs and symptoms of speech disorders in toddlers vary depending on the cause. The symptoms of dysarthria, too, vary but can include:
Slow and laboured speech
Slurred, choppy, or mumbled speech
Rapid speech with a mumbling tone
Abnormal pitch and volume of speech
Limited tongue, lip, and jaw movement
Changes in voice quality, such as hoarse or breathy voice, or a nasal tone
Diagnosis And Treatment of Dysarthria in Toddlers
Before treatment, a proper diagnosis is required by a specialist. Dysarthria is diagnosed in toddlers by having a Speech Language Pathologist (SLP) evaluate the child. While checking for dysarthria, the SLP will analyse the movement of the lips, tongue, and face, as well as breath support for speech and voice quality.
Dysarthria in a 15-month-old baby may be treated differently than in a 3-year-old toddler, whose understanding of language is greater. The role of the SLP is to work with your child to improve communication abilities, while the aim of the treatment is to improve breath support so your child can speak louder, strengthen his facial muscles, slow his rate of speech, and increase tongue and lip movement.
Children suffering from speech disorders such as dysarthria need a strong support system from parents and families. It’s important for caregivers to work hand-in-hand with the SLP to help with speech therapy activities for toddlers, leading to effective treatment. Read more
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Preparing Your Dog For Your Baby’s Arrival
Introducing dogs to a baby, or training dogs for a new baby in the house, can be a tricky thing. Dog owners who are expecting to become parents soon must also consider the life transition their dog will go through once a new baby becomes a member of the house. Preparing your dog for the baby’s arrival and introducing your baby to your dog should therefore be a well thought out and planned activity.
Dogs have always cherished the position of being a man’s best friend. While dog owners cherish the presence of their dog in every aspect of their life, the arrival of a new born baby becomes a tricky aspect to handle for both the dog and the owner. New parents become overly insecure about their baby and tend to forget or ignore the needs of their pet. As a result, the dog often feels rejected, confused and resentful towards the new baby.
Training Dogs For Baby's Arrival
Start preparing your dog for a change in feeding schedule as once your baby will arrive, you will not be able to adhere to proper meal timings for him. Train your dog to be flexible so that once your baby arrives, your dog doesn’t become fussy about his food.
Hire a dog walker or develop a walking schedule for your dog which would give you some breathing space once the baby arrives. You will be operating on very little sleep for quite some time after the baby is born. Your frustration should not be vented on your dog. So plan ahead and save yourself some trouble.
Start training your dog to anticipate new smells and sounds around the house. Introduce him to smells of baby lotion, nappies and formula as well as sounds of nursery rhymes. A baby’s arrival can be a confusing phase for your dog. Make the transition smoother for him by training him in advance.
Train your dog to become less vocal and more polite. A jumping dog when you have the baby in your arms can be annoying as well as dangerous. So train him now to remain on all fours. Also train him to bark less and be less vigilant. This will eventually help your create a more calm environment in the house which is suitable for your baby’s nap time.
Your dog will have to learn to be more obedient once your baby is around. So start conditioning him to respond to instructions like sit, stay, down and go away. This will save you a lot of time and energy and keep both your baby and your dog happy and safe.
Introducing Dogs To Baby
Once your baby has arrived, plan the first interaction between your dog and your baby very carefully.
Get a helper or your spouse to leash your dog when you bring your baby in his vicinity for the first time.
It is normal to be nervous about this event, but instead of showing your unease, motivate your dog in a calm voice and keep giving him treats when he first gets introduced to the baby. This will help him relate to the baby in a positive manner.
Don’t shout at your dog if he tries to show dangerous levels of excitement around the baby.
Let your dog practice some hand target before you let him sniff your baby for a short while.
Once the first introduction is over, distract your dog with a chew-toy or some treats and simply hang-out with him while you hold the baby calmly. This will help your dog understand the normalcy of the situation and accept the baby faster.
It may take some time for both you and your dog to adjust to this major family change. But if you make sure to shower some love on your dog every once in a while and keep things as normal as possible, your baby and your dog will soon learn to be the best of pals. Read more
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The struggles and the lesson learnt for a 2020 mom in pandemic.
I became a mom in January20 and my happiness had no boundary to hold the little bundle of joy for who I waited for 9months, and then followed the sleep deprivation, anxiety and the constant panicking which is warned to every new mom right from the time they are expecting. What was not warned was the Pandemic which came soon after, and nobody knew what to expect. Suddenly the chaos outside had vanished and we were homebound with very limited supply for the baby. Vaccinations was postponed as it was not safe to take our new born outside. Naming ceremony was cancelled due to the lockdown basically nothing was going accordingly to our plan and panicking was not helping either. Raising an infant is difficult in the nicest of times and in the midst of the lockdown the simplest of things were getting complicated. The necessity was a luxury to get, stepping out with your baby seemed like a privilege. We were grateful for every little support that we were receiving. Days became weeks and months; time just flew by and rather than cribbing over the whole situation we decided to be grateful. We were thankful that we got to see all the firsts of our baby, her first-time crawling, her first time standing, her first time talking which wouldn’t have being possible otherwise, we were thankful for the delivery guys working effortlessly to make our ends meet, we were thankful for the support we received from our parents. One thing the pandemic taught me was to be thankful and not take the simplest of things in life for granted. A pandemic made us sit down and pause and be grateful for the things around us. One lesson that I learned and will imbibe in my daughter is to be grateful for things big, great and small. Read more
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Popcorn (microwave)
The days of making popcorn the old-fashioned way - on a stove top are gone. Here's a quick popcorn recipe, that you can make using a microwave. Popcorn can serve as a healthy snack that fits well in your weight loss regime or even serves as a quick snack for your kids while on the go or even at home. Air-popped popcorn is naturally high in dietary fiber, low in calories and fat, and free of sugar and sodium. However, for the sake of flavor, large amounts of fat, sugar, and sodium are often added to prepared popcorn, which can quickly convert it to a very poor choice for those on restricted diets. Believe it or not, you can make your own delicious, low-fat, healthy, microwave popcorn using standard popping corn and a brown paper lunch bag. It works perfectly.
Serves
Preparation Time
Cooking Time
3 People
2 Minutes
3 Minutes
Ingredients
1/2 cup unpopped popcorn
1 tsp (teaspoon) vegetable oil
1/2 tsp salt, or to taste
Method
Step 1
In a cup or small bowl, mix the unpopped popcorn and oil.
Step 2
Pour the coated corn into a brown paper lunch sack, and sprinkle in the salt.
Step 3
Fold the top of the bag over twice to seal in the ingredients.
Step 4
Cook in the microwave at full power for around 3 minutes (you may hear pauses of about 3 seconds between pops).
Step 5
Remove from microwave.
Step 6
Carefully open the bag to avoid steam, and pour into a serving bowl.
Nutritional Information
Serving Size 3 cups (24 g)
Calories
93
Calories from Fat
10
Total Fat
1.1g 2%
Saturated Fat
0.1g 1%
Polyunsaturated Fat
0.5g
Monounsaturated Fat
0.3g
Cholesterol
0mg 0%
Sodium
2mg 0%
Potassium
78.96mg 2%
Carbohydrates
18.7g 6%
Dietary Fiber
3.5g 14%
Sugars
0.2g
Protein
3.1g
Vitamin A
1%
Vitamin C
0%
Calcium
0%
Iron 4%
Tip: A few kernels will remain unpopped. Longer cooking may pop the rest, but will burn some of the already-popped kernels, so it is not recommended.
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Dr Ghouse has added a new answer
Guardian of 0 children
10 hours ago
Q. #asktheexpert
why baby vomit
Dr Ghouse
Paediatrician
10 hours ago
A. for babies less than 6 months may not be a problem. small babies will be having lot of gas because of various reasons it is advisable to do burping of the baby immediately after feeding please give colimex DF drops to the baby they are safe
Dr Laxmi Chavan-Sawant has added a new answer
Expecting Mom due in 1 month
10 hours ago
Q. i am 35 weeks 3 days pregnant... my ultrasound report shows that "fl and hl are shorter compared to bpd"... is this anything to worry
Dr Laxmi Chavan-Sawant
Ayurvedic Gynaecologist
6 hours ago
A. You should have proper consultation with your treating doctor , as some examination or investigations may be needful, so that proper medications can be given And the treatment can be done very properly.
needs proper follow-up for this
Dr Laxmi Chavan-Sawant has added a new answer
Guardian of 0 children
10 hours ago
Q. I am 9 week pregnant and I have runny nose very badly can I use cetirizine tablet?
Dr Laxmi Chavan-Sawant
Ayurvedic Gynaecologist
6 hours ago
A. use nasal drops , that acts faster .
You should have proper consultation with your treating doctor , as some examination or investigations may be needful, so that proper medications can be given And the treatment can be done very properly.
Dr Laxmi Chavan-Sawant has added a new answer
Trying To Conceive
10 hours ago
Q. hi,
my LT 10x18mm and RT 18x20mm and ET 6.5 , what if I intercourse after 2 days, can I do intercourse in ovulation day can become a pregent .
on ovulation day if we intercourse can become a pregent..pls advice..
Dr Laxmi Chavan-Sawant
Ayurvedic Gynaecologist
5 hours ago
A. since the follicle size is 18 to 20 mm your ovulation may occur within 24 hours also so if you have intercourse with in that time it will be more effective to get conceived
your endometrial growth is not good enough for conception but still you can just try
Sai Prasanthi R L has added a new answer
Guardian of 0 children
9 hours ago
Q. Hlw dr its my 6th month pregnency can i intimate with my partner
Sai Prasanthi R L
Mom of a 10 yr 2 m old boy
8 hours ago
A. Hello dear! If your pregnancy is going on fine without any high risk factors then it’s okay. Still, would advise you to check with your doctor once before going further. Maintain a good personal hygiene routine and a healthy lifestyle
Dr Disha Patel has added a new answer
Expecting Mom due in 6 months
5 hours ago
Q. can I take medicine pcm n citrazene in pregnancy fir sore throats n fever
Dr Disha Patel
Ayurvedic Physician
48 mins ago
A. dear mom.
better to take tab pcm for time being n do take steam inhakation couple of tines a day, follpw good home renedies for cold, taje more rest .
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