NYVO
NYVO Investment Advisor: “SEBI Registered Investment Adviser. Your family finance fitness coach – honest, conflict-free money advice for Indian families.”
At what age should I start teaching my kid about money?
“Age 5 is not too early. Start with the concept of trade-offs: limited money, multiple choices. Pocket money (₹10–50 per week) and a three-jar system (Save, Spend, Share) are concrete enough for kids to understand. Interest, compounding, and stocks come later, around age 11–13.”
View in the company profileCan I open a bank account in my child's name in India?
“Yes. Most Indian banks offer minor savings accounts from age 0, jointly operated with a parent. From age 10, the child can operate it with limited independence. The account usually comes with a debit card with spending caps set by the parent.”
View in the company profileWhat is the best long-term instrument for my child in India?
“For daughters: Sukanya Samriddhi Yojana (SSY). It currently pays ~8.2% tax-free, among the highest rates in the small-savings basket, though the Ministry of Finance resets these quarterly. For both daughters and sons: PPF in the child's name (7.1% tax-free) and an equity mutual fund SIP via minor account with parent as guardian. Most families use a combination.”
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