Father's Day 2024: From SIP to health insurance plans, five financial gifts for your dad

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Father's Day 2024: The day to honour the person who has always stood like a pillar to support us and the whole family throughout his life is here. Our fathers, grandfathers, and all those who have been father figures for us deserve massive applause for sacrificing their comfort and happiness for their children and families. While celebration of fatherhood is not limited to a single day, Father's Day 2024 serves as an opportunity for people to express their love for their parents. Here are five financial gifts people can give to their fathers.

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If your father is not very much into mutual fund investment, then you can initiate a Systematic Investment Plan (SIP) for your father. An SIP can be a great way to begin investing in mutual funds. With the help of an SIP, one can start investing a fixed amount of money at regular intervals, usually monthly or quarterly, into a selected mutual fund scheme.

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An SIP also helps a person commit to investing a fixed amount of money regularly, whether monthly, quarterly, or at any other predetermined interval.

Unpaid debt is the biggest burden on a person's mind. Utilise the available money to clear your father's unpaid debt as soon as possible. If it is not possible to clear the debt now, Father's Day 2024 is the right occasion to formulate a plan to clear the debt in the future and start saving accordingly. Clearing unpaid debts improves a person's financial stability and helps them start fresh.

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