Child Future Plan Calculator

A child plan calculator empowers you to make well-informed decisions regarding the type and amount of investment needed to fulfil your child's future expenses. You can compare various investment options for children and select the one that aligns with your financial goals and risk tolerance.

Before choosing a children investment plan, it is essential to understand your needs and budget. Using a child plan calculator can assist you in effectively planning your finances and creating a robust budget to cater to your child’s specific needs.

When planning for your child's future goals like education or marriage, it's crucial to remember that costs tend to increase over time due to inflation. This means that the amount of money you'll need to fulfil those goals will be higher in the future than it is today. To combat the effects of inflation, it is important to incorporate inflation-adjusted savings and investment strategies into your plans.

A child plan calculator considers the rising inflation over time, making sure that your savings goals are in line with the future financial scenario. This helps you plan effectively and stay prepared for the increasing expenses associated with your child's future aspirations.

The child plan calculator is a free tool that is accessible to everyone. You can instantly get calculated results without the need to manually perform complex calculations, thus saving time and effort.

Every child has different future goals and financial situations. With a child plan calculator, you have the flexibility to customise and personalise your savings plan according to your unique circumstances. This tool allows you to tailor the plan to meet your specific needs and aspirations, ensuring that your financial goals align with your child's individual requirements.

You will be asked about the goals you want to plan for your child's future. You can choose between education and marriage and then enter your child's current age.

In this step, you will need to provide specific details based on your chosen goal.

• If you select 'Education' as the goal type, you will need to choose the type of education course you want to save for, such as higher education, graduation, or post-graduation.
• If you choose 'Marriage,' you will be asked to enter the desired age for your child's wedding.

If you select 'Higher Education' in the previous step, you will need to choose an option from science, commerce, or arts. For 'Graduation' and 'Post Graduation,' the options may include MBA, Doctor, Engineer, Designer, Architect, and others.

Else, if you choose ‘Marriage” as the goal, the next step will ask for financial details. Here, you will need to enter the amount of money you would spend if you were to get your child married today.

For the Education Goal:

• If you select higher education, you need to click on the place where your child will study. The available options include Mumbai, Ahmedabad, Chennai, Pune, Bengaluru, and others.
• If you choose graduation or post-graduation, you need to click on the country where your child will study. The options include India, the USA, Australia, the UK, Singapore, and others.

For the Marriage Goal: If you select marriage as the goal, you will be asked to enter the total amount of savings you have currently and how much you are already saving towards this goal.

If you choose the education option, you need to provide financial details like the estimated cost of your child's education as of today and the projected cost when your child will need the funds.

If you choose the marriage option, you will have to provide an estimated rate of interest.

This is the final step for the marriage option – simply click the 'Next' button, and voila! The child marriage plan calculator will generate the results in no time.

For the education option, you will further need to enter your total savings and how much you are currently saving to meet this goal.

After entering the details of your savings, you will then be asked to enter the estimated rate of interest.

Now, click the 'Next' button, and within minutes, your results will be displayed.