The strategy depends on how many years you have until the goal. If your child is very young, you can take advantage of long-term investments; if only 4–5 years remain, the approach changes.

Given the rising cost of education, Systematic Investment Plans (SIPs) in equity mutual funds work well for long-term (above 5-6 years). Depending on your financial situation and number of years you have, invest in selected hybrid funds or equity funds. Sukanya Samriddhi Yojana (for daughters), or PPF can also be considered if you are very conservative investor. However, the required investment amount might go up if you choose these traditional investments as they give you lower returns. Since education is a major and complex goal, it’s best to consult an expert who can design a plan tailored to your needs (Indian or overseas education).