For the last few years, family functions in urban India have revolutionized significantly. Most couples have chosen to postpone or even forgo parenthood altogether and are constrained by various reasons from career aspirations to financial apprehensions. DINKs — Double Income No Kids — have also become very much in vogue in metropolitan cities like Mumbai, Bangalore, and Delhi. These couples accord importance to their professional and personal life and not family planning as was the case earlier. However, what happens when DINKs decide to become parents? The life change from not having children to becoming parents has many serious financial implications. Having a child is oftentimes considered the most enjoyable experience of a lifetime but it is also a very expensive phenomenon that requires very careful consideration. In this article, we will analyze financial realities of parenthood in India, hidden costs that go unnoticed, and practical strategies for financial planning if you deci...