Allow your Child to Pursue Alternative Career

Many Indian parents want their child to pursue traditional type of careers like Doctor, Engineer, MBA, etc. However, with changing times and increasing competition it is essential for parents to allow their child to pursue alternative careers too. Every parent wants his or her child to be successful in life by choosing an appropriate career. But, forcing child to pursue a career of your own choice may become a burden for the child. Therefore, it is essential to support your child when he or she wants to pursue an alternative career.

Some orthodox people do not support this concept of alternative careers. However, there are quite a lot of examples which prove that one should definitely go for an alternative career if he or she has got talent in a particular field. If you feel that your child is talented in a particular field, you should try to encourage your child to pursue a career in that field. If such talent is polished and pursued as a career in future by your child, it will definitely bring a lot of success to your child. Here are some of the alternative careers which can be pursued by your child.

Dance, Acting and Choreography

Dance and acting are two sides of same coin. Dance and acting are an alternative career options chosen by most of the youngsters. Many children do follow it as a hobby. These career options have become very popular as there are many reality shows which provide dancers and actors with the platform to prove their talent. By using such platform provided by reality shows, talent is getting recognised. Because of such recognitions youngsters get good opportunity to build career in this field. If your child is showing interest in such fields, do not hesitate to encourage him or her. You may not know your child can be one of the rising stars of tomorrow. They can be as successful as stars like Madhuri or Sharukh.

With the increasing opportunities in the field of dance and acting, opportunities for the choreographers are also increasing. Choreography is one step ahead of dancing and acting. In this field a lot of knowledge is required about various dance forms. A choreographer should be himself or herself a good dancer and actor. If you think that your child has an interest and potential to become a chorographer, you should give a go-ahead. Choreographers, enjoy a respectable status amongst the dancers, actors and general audiences. Your child can also be tomorrow's Saroj Khan or Shiamak Davar.

Singing and Music

Singing and music are also one of the alternative career options which are popular amongst the youngsters like dancing, acting and choreography. There are many options available in singing and music. Your child can become a singer where he can explore opportunities in Bollywood. There are good reality shows which provide platform for young singers. Your child can also become a classical vocalist or a musician. There are many singers and musicians who have proved their talent in this field. One of them is A.R.Rahman who has been honoured with Oscar award for his work in this field.

Fashion Designing

Many parents do not allow their children to choose fashion designing as their career. Parents hesitate as they are not comfortable with the culture of fashion and glamour world. However, it is not necessary that they have to follow the same culture. They can run their own boutiques and fashion houses also. They can even work with good fashion boutiques where they can use their talent and creativity. There are many popular names in this field. Amongst them Manish Malhotra's designs have become heartthrob of many Bollywood stars.

Alternative Healing

Along with medicines, alternative healing is preferred by many to solve health problems. Even doctors advice their patients to practice yoga and mediation to get quick relief. Therefore, alternative healing can also be one of the good career options.

Handwriting Analysis

Handwriting analysis which is also known as graphology is also one of the new career options. If your child has good handwriting and has interest in reading, he or she can pursue graphology as his or her career. A graphologist can apply his skills in the fields like medical diagnosis, checking martial compatibility, checking business compatibility, employment profiling, graphotherapy etc.

Diet and Nutrition

Taking care of diet and nutrition has become an inseparable part of today's modern lifestyle. As such dietician's or nutritionist's role has become vital for dealing with diet and nutrition issues in people's life. Therefore, a career option as a dietician or nutritionist is also one of the best career choices which your child can make in future.

Social Work

Social work is also an important field which can be pursued as career by your child. In the field of social work there are many areas like adoption counseling, child welfare, human rights etc; which your child can opt for in future. Just like Rajashree Birla who was honoured with Rajeev Gandhi Award for her social work, your child too can become one of the achievers in the field of social work.

Other Alternative Career Options

• Photography is one of the interesting and creative fields which can be pursued by your child.
• There are lots of career options available in writing as well. It includes copywriting and creative writing. The demand for copywriting and creative writing is increasing with the growth of advertisement industry.
• If your child is good at drawing and painting; fine arts, calligraphy and commercial arts are amongst the creative career options which he or she can pursue.
• Beauty and hair-dressing is also one of the career options which your child can pursue. Not only females but also lots of males choose this field for building a career.

Pursuing alternative career can help your child achieve more in life. Nothing can be as great as converting hobbies and interests into careers. It is better to encourage children to become what they want to become in life instead of forcing them. Alternative careers are one of the best which can also help your child to have a secure future.

The Need to Encourage Outdoor Sports

Children of today have become very close to video games and computers. Children prefer to sit in front of their computers and play games during their spare time. As such they have very less time left with them to take part in outdoor sports. Due to this situation they miss the benefits which outdoor sports can provide them.

It is important to be tech-savvy to be in the loop of today's life moving at faster pace. However, it is also vital for children to take part in outdoor sports. Sports play an important role in growth and development of child. Therefore, parents should take the right steps to encourage outdoor sports in children.

Benefits of Encouraging Outdoor Sports

Have a quick look at benefits of encouraging outdoor sports in children.

• Outdoor sports are essential for physical growth and development of children
• Taking part in outdoor sports help to reduce laziness in children
• It is observed that children are getting addicted to TV, video game and computer. Therefore, it is necessary to encourage them to take part in outdoor sports to reduce such type of addiction.
• Outdoor sports make children active
• Outdoor sport help children to stay fit and healthy
• Encouraging outdoor sports in children will help to prevent disorders like obesity in children
• Some children may be excellent at outdoor sports, so encouraging them to take-up sports can help to polish the hidden talent
• Outdoor sports also help to improve social skills and develop team spirit
• Taking part in outdoor sports help child to improve his or her confidence level
• Outdoor sports also reduce stress related to studies and help children to experience free, fresh and open environment

How to Encourage Outdoor Sports?

Importance of Outdoor Sports

Tell your child the importance of outdoor sports. Let your child know about all the benefits of outdoor sports. Make them aware that they can also make career in sports. In India, favourite sport of children is cricket. However, you need to tell your children about other outdoor sports also. There are many other sports like football, hockey, basketball, tennis etc.

Proper Training

Proper training is essential to motivate children to take interest in outdoor sports. Good coaching can help to develop the hidden skills. Such training and coaching will boost child's interest in sports.

Set Examples

It is very essential to set examples before your child to encourage outdoor sports. You can tell your child about the popular sport personalities and their achievement. It is important for them to know that these sports personalities have done a lot of hard work to achieve more in life. You can also tell your child how their achievement in sports can make nation proud if they play for the country.

Reduce Study Stress

Tell your child that outdoor sport will help them to reduce stress related to studies. Indoor activities like computer games will only spoil their eyes. Instead of sitting whole day in a room they can breathe in fresh air of playground. It will also improve their health. It will add to their enthusiasm, increase confidence level and they can concentrate on their studies properly.

Reward Achievements

Reward your child on his or her achievement in outdoor sports. This will encourage them to achieve more in sports too. Rewards will motivate them and help them to take part in sports with more interest. You may not know, your rewards may bring-up a talented sports person.

It is very necessary on part of parents to encourage children to take interest in outdoor sports. However, parents should not force them to do so. If they are talented and interested in outdoor sports parents should give them proper coaching. Parents should also encourage children if they want to choose outdoor sports as their career.

Teaching Children the Importance of Money

Making children understand the importance of money is a very important responsibility of parents. Once children understand the importance of money they can make wise decisions relating to money matters in their prospective life. Therefore, it is very critical to make children understand the importance of money at the right time. Such maturity amongst them relating to money matters will definitely help them achieve more in life.

Today's parents aim at providing each and every facility to their child. As such the child may not be aware about the financial difficulties which are faced by parents. Therefore, it is very essential for parents to make children understand the importance of money. If they learn to respect money at the right age, they will definitely grow-up as wise human beings. Here is how you can teach children the importance of money.

Day-to-Day Expenses

Make children aware about how you manage the day-to-day expenses. It is necessary for them to know that from where money comes and where it goes. Make sure that your children understand that you do a lot of hard work to win bread to your family with which day-to-day expenses are taken care of. Also tell your children that you need to do proper planning to manage day-to-day expenses. If you give pocket money to your children ask them to keep a record of how they have spent it.

Involvement in Decision Making

When you decide to spend money on a holiday for your family or you are buying any gadget or gizmo for your house, involve your children also. Let them know how you planned to earn and save money to buy such things for your family. Tell them your budget for buying a particular thing for your family. Make sure that they understand that money should not be spent out of the budget.

Importance of Saving Money

Let your children know how saving money has helped you in your life. Tell them that saving money is critical as it helps in times of difficulties. Teach them to make small adjustments so that they can save money and use it when required. Ask your children to maintain a piggy bank and save money out of the pocket money. Reward them when the piggy bank is full.

You can also teach them to make small savings. They can make small saving by avoiding using bus when they have to travel for a very short distance. Instead of spending money on bus fare they can go walking.

Importance of Proper Investment

Just like adults do, children should also learn how to make proper investment of the saved money. If your children are forcing you to buy an expensive toy or gift, you can ask them to save money and buy it by on their own. If they are confused regarding what to buy out of the saved money, you can guide them. You can suggest them to buy good books rather than buying toys. You can invest their money in child insurance plans along with your money. This will make them feel that the saved money has been invested in right manner.

Avoiding Irrelevant Expenses

You should teach them to avoid irrelevant expenses. You should tell them how you avoid irrelevant expenses. For example; you can tell them that having extra cheese in your burger requires extra money whereas if you do not put extra cheese you can still fulfill your hunger. Similarly, when we can make use of one pen and can reuse it by refilling it, there is not need to buy extra pens.

Many times, at the end of each academic year we can find many note books which are not used completely. Children can make use of such notebooks as rough books for rough work or can make rough notebooks out of the remaining pages. In this way lot of money can be saved by avoiding irrelevant expenses.

Follow what You Teach

You should follow what you ask your children to do. After all children always lookup to their parents and behave accordingly. Therefore, it is very necessary that you too give importance to money so that your children will also follow you. At the same time try to help them imbibe a thought in their minds that money should be earned only through hard work.

Hard work and Money

Children should not be forced to do anything. Parents should try carry out activities which will automatically generate a sense of importance for money in them. Parents should give pocket money to their children when they help them in the household chores. They can give them pocket money when they take part in cleaning the house or helping mother in kitchen. In this way children can associate money with hard work. Any person automatically starts giving importance to money when he earns it with his own hard work.

In this way carrying out the above mentioned activities will help you teach your child the importance of money. If they understand the importance of money at an early age, they will have a very bright future. They can take proper decisions regarding savings and investments and will learn to achieve more in life.

Financial Planning for Children

Bringing-up child as a successful and responsible individual is a dream of every parent. Almost every parent sacrifices his or her own desires and wishes to make their child's future secure. Many parents also face lot of hardships to save money and fulfill their child's dream. Parents even stop caring about themselves when it comes to the career and future of their child.

However, planning the future of children is incomplete without financial planning for them during each and every stage of their development. Have a quick look at different phases where financial planning is needed for growth, development, better career and better future of children.

Preliminary Financial Planning

A financial planning start even before the child is born. Preliminary financial planning involves financial planning for giving birth to the baby. Such expenses may include hospital bills, medication, IVFs etc. It may include some expenses required for taking care of baby's health too.

Daycares, Creches and Nannies

Normally working mothers prefer to take leave from work to take care of their babies for at least 6 months to 1 year. Once the baby becomes older they decide resume work. Therefore, to continue work, mothers need to take services provided by daycares, crches and nannies. Parents need to take care of such expenses also. However, in India many working mothers depend on their mothers or mother-in-laws to care of their babies when they are working.

Admission in Pre-Schools

As the baby grows-up parents need to admit them in pre-schools. It is this time when parents introduce their child to a new world. As such it becomes important for them that they enroll their child in a pre-school which prepares their minds for entering schools for primary education. At the same time they want to ensure that the environment is safe and hygienic. To provide all these facilities to their toddler parents have to spend a good amount of money on the pre-schools too.

School Admissions

Getting educated from a good and reputed school is the first step towards bright future. However, taking admission in good schools is not so easy. Along with the payment of donations of schools parents also need to spend money on school fees, tuition fees, books, extra-curricular activities etc. Therefore, parents need to plan finances properly for enrolling their apple of eye in good school.

Higher Education

To make sure that child chooses one of the best career options, it becomes mandatory for parents to arrange finances properly for the same. However, these days many insurance companies are providing excellent education plans. Such insurance plans ensure parents that financial problems do not become a hurdle for providing appropriate education to the child. Todays competitive age makes it obligatory for all parents to choose proper plan for their little wonder so that he or she can choose a career option according to his or her desire.

Prospective Life

Many Indian parents also plan for the prospective life of their child. Especially in case of female child, parents are very particular about saving money. This saved money is thus utilised during weddings.

How Financial Planning Can Help Achieve More?

Here are some of the benefits which can be derived form financial planning for children.

• There is availability of funds to supports child's career goals. Therefore, the biggest hurdle to child's success is removed with an ease. It brings child closer to what he or she wants to achieve in life.
• With proper financial planning, there is no need of taking educational loans. Educational loans become burden on children at an early age. With such burden, it is difficult for children to focus on studies.
• Parents are also relieved from the expenses which they have to incur in future if they do proper planning at present. As such they can also pay attention on how they can fulfill other needs of their child so that the child can achieve more in life.
• With parents financial planning comes planning for the future of the child. Since parents and children decide about the future in advance, it is easier for them to cope with stress and tension and as such achievement is guaranteed.
• Along with child's hard work, proper financial planning done by parents act as a base for better future of child.

Once children get married parents are free from their responsibility. However, a new financial planning begins with the end of financial planning for children. As the couple starts heading towards old age, they have to think about the availability of finance during this stage. But this issue can also be taken care by selecting a proper pension plan. Thus, financial planning has become easier due to the growth and development of insurance sector in India.

Talent Identification in Children

They say God blesses every person in the world with at least one talent if not more. Identifying talent at a young age in a child can be very beneficial as the child can be groomed towards betterment and perfection right from the early days.

Knowing that your child is exceptionally gifted or talented in any field or area can be a source of great joy and pride for any parent.

Once the area of potential is identified, steps can be taken to develop and nurture that talent by parents, teachers, relatives and other adults. But the main task at hand firstly lies in spotting a talented child.

The more the number of opportunities a child gets and the more the number of different activities he participates in, the easier it will be to identify his talents and gifts.

Observation is the key

Parents should be very observant of their child from a young age itself, to spot their areas of liking! Studies show that 90% of the human brain develops before the age of twelve. Once these years pass away, the scope for enhancement of natural talents in children reduces greatly.

Hence it is vital that the most is made out of the period before the age of twelve.

There are two relevant quotes which are ideal to describe the importance of this, "Make hay while the sun shines" and "Strike while the iron is hot."

These are some ways to spot a talent or gift in a child

• If they show excellent academic performance in a particular subject in school, it points out their inherent talent in the subject.
• Sometimes a child may show a heightened level of interest in a particular field. For example, when you go to a sports shop he pesters you to buy a badminton racket he sees, even though he has never played the game till date. Your child might be watching a badminton match on television and he insists on you buying a badminton racket for him even though he has never played it before or watched anyone playing it in real life. These could be signs of a budding badminton enthusiast.
• Teachers can also play a major role in identifying talent in a child. Talents can be spotted by school teachers based on the child's performance in class tests, assignments given by the teachers, classroom discussions while teaching and a general observation of the child during school hours.
• Talents need not always be present only in conventional fields like drawing or singing. If your child is very good at repartee and is always able to make his point firmly while debating or arguing on a subject, your child has qualities which can make a good lawyer.
• Paying attention to the kind of programmes he likes to watch on television can help in spotting interests. If he is always inclined towards programmes related to outer space and space exploration, these are signs that the subject area interests him. If your child asks questions at a very young age like 'What is the sun made of' or questions like "Daddy please tell me all about constellations of stars" or Why does Saturn have rings etc, it is a sign that he has a special love for matters related to the outer world and universe. If he insists on going to a planetarium or expresses desire to look through a telescope so that he can observe stars more closely, it proves even more his great fascination for the field.
• Watch what the child is always curious about and interested in knowing about. If a child is interested in a subject, he will ask an endless number of questions related to that subject and never get tired of it .He will always be highly curious about that field and will not be satisfied until he gets a reply. If you observe your child to be overtly curious on any topic, it shows his great zeal and enthusiasm for that subject.

There are some signs which show whether a child is in general a smart and talented child

• Children who enjoy games which challenge the brain like solving puzzles, number games and enjoy playing with other toys or games which involve use of the intellect.
• Children who begin to speak at a very early age itself and their ability to grasp languages and vocabulary is amazing.
• Children who have unusually good analytical and reasoning ability.
• Children who are quick learners and display signs of a strong and powerful memory at a young age.

The above are signs show that the child is basically an intelligent and talented child overall.

Thus, if you see potential or talent in your child in any area, work hard on nurturing it for it is something which can make him stand out in life or something which he can make a successful career of.

Talents are those special gifts in a person which if nurtured and developed to the point of perfection can even make your child famous and renowned the world over.

Wise Insurance Planning

Insurance plans come in a bewildering variety of schemes. Find out the best option for you.

Insurance planning is an important aspect of life for every working individual or family. Taking an insurance policy is important not just as a safeguard against unprecedented calamities. It also ensures the future financial well being of one's dependents

Having said this, buying an appropriate insurance policy is not easy. There are a number of companies offering a bewildering array of schemes and insurance policies. As an average buyer, you may be at a loss to decide what the right insurance plan is right for you. Below are some tips to guide you.

Life versus Term

A question that most people ask is whether to go in for life insurance or term insurance. Both have their advantages and disadvantages.

Life

Life insurance is quite popular, especially in India. It covers the entire life of the policy holder. Apart from that, it also offers a lump sum payment after a pre-determined period; this makes lifeinsurance policy an investment vehicle. Also, a life insurance policy enables tax savings.

However, life insurance premiums cost more than term. Also, life investment returns are generally at the lower end of the spectrum of fixed-income investment options. In case a policy holder discontinues the policy midway, the reserve built up from premiums already paid, is usually returned to him. Estimating the future financial status of one's dependents is an important consideration while taking a life insurance policy. Life insurance is especially appropriate for people who may not have savings when they are older, or require to provide for financial dependents.

Term

Unlike life insurance, a term policy covers the policy holder only for a fixed period. Term insurance policy does not offer investment options,there are no returns if the policy holder survives the term of insurance cover.

However, term insurance is much cheaper than life insurance. Thus, a term insurance means money is saved which can be invested in any higher return investment plans. Also, in term insurance, the policy holder does not suffer financially if he discontinues the contract midway. Term insurance is ideal for younger working people. They can save money on the lower premium required in term insurance schemes; this money can then be better invested in higher return investment options such as mutual funds.

Unit-Linked Insurance Plans (ULIPs)

A unit-linked insurance plan (ULIP) is a systematic investment plan that offers both insurance and investment returns. In addition, ULIPs also offer the policy holder the chance of continuously monitoring, planning, and directing the protection and savings aspects of his policy according to his needs at any point of time. Thus, a ULIP policy is an excellent opportunity for the policy holder to optimise his insurance and investment plan at different stages of his life.

While investing in a ULIP policy, the prospective buyer needs to consider the various charges that will be applicable on the policy, the fund management options offered, and the flexibility features they allow. It is also important to determine the reputation and performance of the products of the company from whom you are buying the policy.

ULIPs are appropriate for people who have basic knowledge of the equity market. A prospective policy buyer would need to research the market. He would also need to understand the features offered by the different policies and their application to his individual needs. Once he buys the policy, he would need to adequately monitor its performance to be able to mould it to his advantage. Those who are not conversant with the financial markets may need to work closely with a consultant to optimise their gain from a ULIP policy.

Child Insurance

Child-specific insurance policies offer a savings plan for parents. They pay returns that are specifically catered to helping the child when he grows up in terms of paying for their education, marriage, etc.

Child insurance policies are broadly of two types. In one, the child is insured and receives a lump sum amount upon his becoming an adult. In the event of the unfortunate death of the child, the nominee would receive the premium along with interest.

In the other type, the parent is insured. The child gets the returns either upon the death of the parent or upon the maturity of the policy. Parents should consider their financial status and the future needs of their child while opting for child insurance.