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Children & Money

Teach children about money, explore minor savings accounts, Sukanya Samriddhi, and smart ways to invest for your child's future in India.

How to Teach Kids the Difference Between Needs and Wants Teaching kids the difference between needs and wants is the first step in financial literacy. Needs are essentials for survival li… 5 min read
My Child Has No Concept of Money Value — What Should I Do? If your child has no concept of money value, start by making money tangible with physical cash instead of cards. The best way to t… 5 min read
My Child Doesn't Understand Why We Can't Buy Everything — Help! When your child struggles with money limits, it's often because money is an abstract concept to them. Teaching kids about money ef… 5 min read
Will Talking About Money Worries Make Children Anxious? Talking about money worries with children does not necessarily make them anxious; in fact, avoiding the topic can create more fear… 5 min read
Pocket Money Weekly vs Monthly — Which Works Better for Kids? For younger children (ages 5-10), weekly pocket money is better because it provides frequent, simple lessons. For older kids and t… 5 min read
What is a Minor Savings Account in India? A minor savings account is a bank account opened for a child under 18, operated by a parent or guardian until the child is old eno… 5 min read
Can a Child Under 10 Have a Bank Account in India? Yes, a child under 10 can have a bank account in India, but it must be opened and operated jointly with a parent or legal guardian… 5 min read
How to Open a Fixed Deposit in a Child's Name in India To open a Fixed Deposit in a child's name in India, you need to choose a bank and scheme, gather documents for both child and guar… 5 min read
Who Controls a Minor Bank Account — Parent or Child? A parent or legal guardian legally controls a minor's bank account, as they are the joint holder or custodian. The child is the be… 5 min read
Top Banks in India With the Best Minor Account Features HDFC Bank's Kids Advantage Account is the best overall minor account in India due to its strong features and digital tools. A mino… 5 min read
What is the Current Interest Rate of Sukanya Samriddhi Yojana? The current interest rate for Sukanya Samriddhi Yojana for the April to June 2024 quarter is 8.2% per year. This rate is reviewed … 5 min read
How Much Will ₹1.5 Lakh Per Year Grow in Sukanya Samriddhi? Investing the maximum of ₹1.5 lakh annually in the Sukanya Samriddhi Yojana can build a significant corpus for your daughter's fut… 5 min read
Can You Withdraw from Sukanya Samriddhi Before Maturity? Yes, you can withdraw money from a Sukanya Samriddhi Yojana (SSY) account before it matures, but only under specific conditions. Y… 5 min read
Documents Checklist for Sukanya Samriddhi Account Opening The essential documents for a Sukanya Samriddhi Account include the account opening form, the girl child's birth certificate, and … 5 min read
Gold vs Mutual Fund for Your Child's Future — Which Is Better? Mutual funds generally offer higher growth potential for long-term goals like a child's education, making them a strong choice. Go… 5 min read
How to Invest Shagun and Festival Money for Your Child's Future Investing shagun or festival money is a great way to secure your child's future and teach them financial discipline. Start by open… 5 min read
Children's Mutual Fund Plans vs Regular Equity Mutual Funds Regular equity mutual funds are often better than children's mutual fund plans due to their greater flexibility, lower costs, and … 5 min read
Single Parent's Complete Guide to Investing for a Child's Future As a single parent, you can absolutely invest for your child's future by first building a strong financial foundation, then making… 5 min read
Best Low-Cost Index Funds to Build Your Child's Future Corpus Low-cost index funds are an excellent way to build a substantial corpus for your child's future due to their simplicity and low fe… 5 min read
Will Giving Kids Too Much Money Spoil Them? Giving kids too much money doesn't automatically spoil them. The real issue is a lack of financial education, so the key is using … 5 min read
Giving Children Money Freely vs Teaching Them to Earn It When deciding how to teach kids about money, a hybrid approach is often best. Giving a small, unconditional allowance teaches budg… 5 min read
How to Set Up Your Child's First Personal Budget To teach kids about money, you should set up a simple personal budget for them. The best method is to use three jars labeled 'Spen… 5 min read
Financial Education for Adopted Children — What Parents Should Know Financial education for adopted children needs a tailored approach. Understanding your child's past experiences with money and foc… 5 min read