Financial Planning post 10th Standard Results

Financial Planning post 10th Standard Results

Jun 11, 2019 ArthaSarathi 0

Financial Planning post 10th Standard Results

The results are out for 10th Standard. It is an important milestone in your child’s life. Well, as in case of any result, one of the following scenarios may prevail at your home.


If, the result is at par or better than expected.

Bingo!! A proud movement!! Your child deserves the best of the resources for a great career.

If the result is worse than expected

Never mind, it’s a setback, but there is a Way to go. Possibly, with a little extra support and resources, your child can do really great.

You need to put up a financial plan – Now is the appropriate time


A financial plan is critical to ensure that your child gets right resources for securing a fulfilling career of her choice for a bright future.

In case you haven’t put one yet, it’s a good time to start. If you already have one, it’s high time you review it as per result and aspiration of your child.

You may consider the following factors for the same,

Career choice

What are the career aspirations of your child and your family?  This decision is a good starting point for setting up a financial plan. Career choice is usually made on the basis of personality, inclination and intellect of your child. However, understanding your current financial condition, expenses and future expectations can help in making a relevant choice in this regard.

Preparing for the next Milestone

After choosing the career, it’s important to define the next milestone to aspire. E.g. Once your child is certain to go for IIT, the next milestone is clearing of JEE. Your financial calculations must keep in mind achievement of this milestone.

Further, in spite of your child’s best efforts, what if this milestone is missed or delayed? It means more time and more financial resources. Your financial plan will need to make an adequate provision for a “Plan B” as well.

Funds & savings required

Do you know how will it cost to let her reach the goal? 

In the short run, you need funds to start for her coaching, admission and other expenses linked to college. Assuming that they will be fulfilled from your salary or savings, the same can’t last forever. Hence let’s calculate that extra provision you may need for future expenditure.  

The following table calculates tentative cost and savings required for typical career choices of a 10th pass Indian child. Inflation is at 5% and investments are assumed in Bank deposits.

This is a simplified representation. For different career options, you may find out costs and calculate the savings with the help of a Qualified Financial Planner.



Today's cost

Cost - 3 years later inflation 5%

Savings required per month @ 6.3%












Other Colleges





Government Colleges





Other Colleges










Private top colleges





You may start saving more or reduce your other expenses to take care of these funds. However, in case you find these figures overwhelming and your current financial condition may not be able to support this, don’t worry.

Good part is, in today’s world, financial resources are not a constraint for a deserving child. You can avail loans or improve your investment returns by reaching out to one of the qualified financial planners listed here. They will help you with possible options to ensure meeting with right financial resources for your child’s future.

What if something goes wrong with me or my health? 

How do I ensure that my child’s education is continued uninterrupted in case something happens to me? Well, term insurance plans and health care plans can help you to make enough provisions for such contingency.

Your comprehensive financial plan can address this issue. You may do it yourselves or take help of a financial planner. Understand the difference between the two before you make a final decision.

All the best for a great financial future!!


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