From Baal Aadhaar to SIP: CA shares 4 financial moves every new parent should make immediately
A baby’s arrival is marked with many responsibilities, and every parent wants to provide the best for their children. However, amidst countless to-do lists, financial planning sometimes takes a back seat. Most parents think it’s too early. But experts have a different take on it. According to experts, the first few months after birth are also the right time to put a few long-term financial building blocks in place.A chartered accountant Shivani jha (@ca_shivani_jha) recently shared four financial tasks that parents should consider completing soon after welcoming their newborn. While these steps may seem administrative at first, they can make it easier to access government schemes, invest for the child’s future and avoid paperwork later. Here’s what she wants parents to know.
7 Jul 2026 | 16:15
What was the most useful baby product during the first six months?
1. Get your baby Baal Aadhar
One of the first documents parents can apply for is a Baal Aadhaar, according to the CA. Baal Aadhaar is issued to children below five years of age.According to Shivani, having a Baal Aadhaar can be useful for:
- School admissions
- Passport applications
- Opening bank accounts
- Government welfare schemes
- Investment accounts
The application process can begin through the UIDAI website.
2. Apply for a Minor PAN card
Many parents assume a PAN card is only needed once a child starts earning. However, applying for a Minor PAN early can simplify a lot of financial procedures.According to CA Shivani Jha, a PAN may become useful for:
- Mutual funds investments
- Opening a demat account
- Creating a financial identity that continues into adulthood
Parents can apply for aadhar at: pan.utiitsl.com
Image: Canva
3. Open a government scheme
The chartered accountant also recommends opening a long-term government savings account for children. She mentions two schemes in her Instagram post:
Sukanya Samriddhi Yojana (SSY): Designed exclusively for girl children, Sukanya Samriddhi Yojana is one of the government’s flagship small savings schemes. Some features of SSY are: it’s available only for girls and provides higher interest rates.
- Public Provident Fund (PPF): Parents of both boys and girls can open a PPF account in the name of their child. Key features include: available for every child, government-backed investment and long-term savings with a 15-year tenure that can be extended.
Both SSY and PPF accounts can be opened through participating banks as well as post offices across India.
4. Open a minor bank account
Many banks offer specialised children’s savings accounts with parental control until the child reaches the eligible age. According to Shivani Jha, these account helps parent;Make savings in their child’s nameLinks investmentsAnd builds financial history
Bonus tip from the CA: Start an SIP
Apart from the four financial steps, the chartered accountant also advises parents to start an SIP for their child. According to her, for real long-term wealth, equity SIPs are your “best bet.” She suggested starting with even 500 rupees per month will do!In conclusion, along with healthcare, nutrition and emotional care, building a financial foundation early can become another meaningful gift parents give their child- one that supports future milestones such as education, career goals and financial independence.
