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Finance
Fund any major future milestone for your child that isn't specifically education or marriage — a gap year, a first car, a house-deposit gift, a start-up fund — by inflating today's cost and solving for the required monthly SIP.
Two steps. First, today's cost of the goal is projected forward at your expected inflation rate, compounding once per year: future cost = cost today × (1 + inflation rate)^years. Second, that inflated cost becomes the target future value for a monthly SIP, solved by inverting the standard SIP future-value formula — the level monthly contribution whose monthly-compounding accumulation, at your expected investment return, reaches the target exactly at the end of the horizon. This is the same accumulation model as Goal Planning, Education Planning, and Marriage Planning; what differs is scope, not math. This calculator is deliberately for the child-related goals that fall outside those two named categories — a gap year abroad, a first car, seed money for a business, a house-deposit gift — and defaults to general CPI-style inflation (~7%), not education's elevated ~10% assumption, because these goals don't share education's structural cost pressures. As with every goal-planning calculator, the investment return is held constant for the tenure and the result excludes taxes and fund charges.
If you're saving specifically for college or professional-degree tuition, use the Education Planning calculator instead — it defaults to a higher, education-specific inflation rate (~10%) that reflects how fast tuition actually rises. This calculator is for everything else a child might need money for, and defaults to general inflation (~7%).
Marriage Planning is scoped specifically to wedding costs. This calculator covers other child-related milestones — a gap year, a first car, a house-deposit gift, seed funding for a business — that share Marriage Planning's general-inflation assumption but aren't a wedding.
Anything for your child that's a one-time future cost but isn't education tuition or a wedding: a gap year or travel fund, a first vehicle, a down-payment gift toward their first home, equipment for a hobby or sport at a competitive level, or seed capital for a venture they want to start.