Financial planning is an important aspect of maintaining financial stability. It is a tough task for every individual in an Indian household. The present paper has focused mainly on two objectives i.e. to study the changing financial needs of Indian families in the modern era and to create awareness among children about the financial need and planning. This study is based on secondary data and information that has been gathered by the researcher from various online articles and research papers related to the present study. The data has been analyzed for the last ten years (2011 to 2020) based on four parameters such as the increased number of mobile users, the number of house properties sold, the increase in gold price and health insurance premiums to find answers about the changing financial needs of Indian families. Based on the interpretation and findings, researchers made a few valid suggestions.