• Financial Planning

    In finance, investment is putting money into an asset with the expectation of capital appreciation.

  • Mutual Funds

    When it comes to the world of investing, three words come to mind: overwhelming, intimidating, and scary.

  • Time for changes

    Bottoms in the investment world don't end with four-year lows; they end with 10- or 15-year lows.

Child Birth

Before your baby takes his or her first steps, you can start taking a few of your own. It's never too soon to start budgeting for a child, planning for college expenses, and insuring your family now and over time.


Plan for new expenses

Budgeting for new expenses is an important step to take when planning for your new addition.

If this isn't your first child, you can assess how another child will affect your budget.


Costs to take into account:
  • Groceries- New expenses, like diapers and formula, will add up quickly.
  • Housing- You may need more space as your baby becomes mobile.
  • Transportation- A larger, safer or more reliable vehicle may be something to consider.
  • Clothing and household items- Stocking up on baby essentials, such as furniture, bedding and clothing can be costly. After that, your per-month budget will be higher, too as your child's needs (and sizes) change.
  • Medical- Doctor visits and co-pays may affect your bottom line.
  • Child care- Compare the cost of professional child care against what you'd lose in annual income if one parent quit working to stay home. You might be surprised. If you choose daycare, do you prefer in-home, full-time or part-time? Depending on where you live and what type of care you choose, costs for an infant average Rs. 4000-6000 a month.
  • Education savings- As your child grows, You will need a handsome budget on school fees, college fees, Co curricular activities.

Other financial planning considerations for new families

Adjusting your finances for a new child can have a major impact on every aspect of your financial life. You may wish to talk to a financial advisor, legal or tax professional to help you plan for more complex questions such as:

  • Have you reviewed your employee benefits package to consider your new addition, including health care, life and disability income insurance options?
  • Do you need additional insurance protection?
  • Do you have a plan to review and update your beneficiaries?
  • Have you executed or updated a valid will? 
  • Have you discussed ways to resolve competing needs to save for retirement and education?

How we can help

With a growing family, your goals and priorities can change quickly. Our unique approach to financial planning for new families is built to be flexible, evolving with your life. Dhulji Advisory team can meet with you regularly to help you stay on track as you plan for your future.

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