Here are tips from three experts on how mothers can manage personal finance well enough to secure the future of their children.
Deepali Sen, founder, Srujan Financial Advisers LLP
Raise money-conscious kids: As moms build the foundation for kids’ financial understanding, you need to emphasise from a very early stage that money is not an entitlement. It needs to be spent prudently.
Retirement stands taller than kids’ higher education: If you have to choose between building your retirement nest and funding higher education, do the former first. Children can always take an education loan.
Build an emergency fund: Mothers are the hubs for so many activities (spokes) originating through them. Set aside 4-5 months of expenses in a liquid/ ultra short fund.
