Ram and Riya being working parents are way too busy. Sometimes they are unable to give enough time to their daughter Siya. They both are working hard to give their daughter a better future. On being asked by their close friend that this may create some distance between Siya and her parents, they replied, â€œThe rising economic curve in India has led to many significant changes in the work-life balance for the salaried class. A family no longer is completely dependent on a single earning member and the fact that more often than not, just one source of income is insufficient, has contributed to this change. No longer can a person be expected to carry out the entire financial inclusion of the family without her/his spouse pitching in.
Nothing to the contrary can be stated, given the fact that dual-income families generally enjoy a far better economic footing than the single-income families in the same socio-economic segment. This extends to the children, as the worries about monetary planning for education and other needs are almost non-existent.
There is also the factor of family harmony. When both the parents are working, they understand each other’s professional hassles and issues better. This leads to a harmonious atmosphere at home again beneficial for the kids. The overall family life in such homes stresses on independence something that the children inculcate from a very young age. This imparts time-management and resource management skills to them in due course of time. When both the parents are working, the economic flexibility is great. This implies that sufficient funds can be put aside for future planning and investments. Thus, the investment and subsequent wealth-creation prospects of a dual-income family are much too great than those families where a single parent is earning.
The benefits of having working parents also revolves around the child’s future, for which careful financial planning and security of is paramount importance. However, merely saving money for specific milestones in the life your child is not enough. A detailed and thorough market research for selective investment with proper financial security is equally important. Similarly, investing in insurance plans for the better coverage that would shield your child’s dreams is essential. Edelweiss Tokio Life â€“ Wealth Plus provides a rising Star benefit which acts like a Child Plan a comprehensive protection for your child that is aimed at letting your child’s dreams be fulfilled without any financial woes.
At the end of it, whatever will be will be! But the right preparation will definitely help.