Saving Up For the Future: 5 Mothers Share Their Stories

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Being a mother is not easy. We often expect the father to be the one who takes care of the financial needs of the family. However, these days, mothers carry their share of responsibilities too. It is natural for mothers to feel anxious about their kids’ future. Yet, only a few take the decision to secure their finances by saving money. These mothers told us their stories of saving up for the future to help fulfil their children’s dreams:

1. A Smarter Way To Save

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My father was a government employee. I grew up watching him do his accounts every month to tally the expenses and leftovers. He taught me the importance of saving money early on in my childhood. As children, my sister and I had accounts at the post office savings scheme to deposit our pocket money regularly.

My son is growing up fast and he is showing great potential in his academics. I am so proud of him, but I am also worried that his dreams might get stalled by the lack of funds. As a proud mother, I want to be able to support him in every way possible for his higher studies. To do that, I had to choose a smarter scheme that would add value to my money. Conventional saving options wouldn’t have been adequate to help me meet my kid’s goals once he is grown up. A financial instrument like ICICI Pru Lakshya Wealth that helps to secure my family’s future as well as get me adequate returns on my investments is an ideal product for a salaried person like me. It assures the safety of my money with lump sum pay-out at the end of the policy term. With that, I feel assured about being able to support my son achieve his dreams.

2. Discipline and Savings

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When I was young, I liked spending money on pretty, attractive things. I was squandering money left, right, and center, but since I didn’t have anyone depending on me, I was free to indulge myself. I continued that lifestyle even after my daughter was born. Time flies, and before we knew it, we were celebrating her fifth birthday. Then it occurred to me that in a few years, she would be a teenager. As a mother I have big dreams and aspirations for my daughter. My husband and I were so under prepared to fulfill these dreams. I was apprehensive when I realized that we didn’t have any savings to take care of her future or to marry her off well.

We needed to start saving and get our financial affairs in order. I was new to the concept of savings. So I decided to sign up for a savings scheme from a trusted institution. We narrowed down the list to a few and finally settled on the ICICI Pru Lakshya Wealth Plan. It is a plan that offers capital protection along with regular additions in terms of the bonus. Not only does it help us save up for the future needs of our daughter, but it also helps us save taxes. Also with the quality of support they provide, it is easy to keep track of my savings.

3. The Habit Of Saving

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For so long, savings for me was just an old, dusty jar at the corner of my shelf. We were financially comfortable, so I never felt that saving money was a pressing concern. All of that changed when one of my colleagues unexpectedly passed away. He didn’t have much savings either, which left his family in extreme financial trouble. This shook me to the core. As a mother it was unbearable even to imagine that this could happen to my kids and me, too, if we continued to neglect savings. I realised that saving is a habit and I had to cultivate it.

I always had a modern outlook towards life, so when the question of picking a savings scheme arose, I was sure I didn’t want to go for a conventional method for saving up. On the other hand, endowment plans that give life cover throughout the policy term and also help in savings with additional bonuses and tax benefits is perfect for my modern-day needs. I believe that savings should not be just money lying idle. An endowment plan from a trusted brand like ICICI Prudential Life is suitable for us, because it focuses on wealth creation at minimal risk.

4. Small Steps and a Big Leap

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My parents have always been very heedful about their financial investments. And as a member of an overprotective family, I was never allowed to count on modern saving schemes. I understand where our parents were coming from because back in the day, we never let our assets go far from our reach, let alone trust it with others for safekeeping. Times are different now. The economy has changed, so have our methods of saving.

As a mother, I had to think ahead and think differently from my elders because the future of my children is at stake. Associating with a well-reputed life insurance company like ICICI Prudential Life gives me the confidence for a secured future for my kids and me.

When accessing an insurance company, trust is an essential factor to be considered. ICICI Prudential Life is one of the most trusted brands because of their impeccable claim settlement ratio and their dedication to settle claims in just one day during times of our need.

5. Careful Planning and Secure Savings

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I am a single mother who works in a highly competitive I.T. sector. I work hard every day to send my kids to school and meet their needs. I worked hard to become what I am today. When I was in college, I didn’t have adequate financial backing. I survived on the grants and barely made it to the end of each semester. When I got my first job, I made a promise to give my kids the best life they could have. My dream now is to send my kids to their dream college with all the resources they need. I want them to feel financially secure until they are ready to be independent.

I knew this would be possible only with the help of a good savings scheme. An ideal investment would also be one that doesn’t pinch my pocket. A plan like ICICI Pru Lakshya Wealth caters to my needs of a secured future for my family and at the same time give returns to fulfil my kid’s dreams at very affordable premiums.