In the run-up to Children's Day later next week, CNBC-TV18’s ‘Smart Money’ show is focusing on how to plan for a child's future; his or her financial goals like education and marriage, and more importantly how to imbibe the quality of financial awareness and literacy at a young age.
Radhika Gupta, CEO of Edelweiss AMC shared her views on when and how one can start investing for one’s child, how to plan a child’s future and how to make children understand the importance of financial literacy and to value the money.
The right time to start investing for your child is as early as possible, Gupta said.
“The earlier, the better for two reasons. One is compounding. The power of compounding is immense for children and the sooner you start it, the better. Second is, the importance of children learning financial literacy, the importance of managing money and the importance of valuing money,” she said.
Also Read: Smart Money: Masterclass on financial literacy & money habits for kids
And according to her, the best way to teach children about managing money is to make them have their own investments.
For the entire discussion, watch the accompanying videoTo watch other videos in this series, click on the Smart Money tab below.