The New Age Baby Boomers

After enjoying the bliss of a newborn’s arrival, it is wise to plan early for a bright financial future, says Anagh Pal.

- Anagh Pal

The month of July 2017 has certainly been the happiest month in the life of Mumbai-based couple, Shayok Banerjee, 35 and Debjani Mukherjee, 35, as their daughter Tisha was born. “She brought home so much joy, good luck and energy in our lives, as if the whole world had conspired to provide us with what we need,” gushes Debjani, the proud mother.

But a baby also brings with it an added sense of financial responsibility. And planning for a child’s future is as important as managing immediate expenses that are required in raising a baby and take care of school education expenses and other related costs later.

For the Banerjees, expenses have of course, increased since the birth of the baby. “We never imagined that diapers would cost ₹4,000 a month, plus vaccinations and doctor visits of ₹10,000 a month,” says Debjani. She had taken a sabbatical of five months after her maternity leave got over to take care of her baby, and now she is back to work. It helps that they stay in campus, her workplace is a few minutes away and she can visit home every few hours. Plus there is a baby-sitter, while Shayok, his parents and her parents also chip in to take care of the baby. “All this would have been impossible without a strong family support system,” says Debjani.