SIP, or Systematic Investment Plan, is a method of investing in mutual funds by regularly investing a fixed amount at set intervals, as opposed to investing a large lump sum at once.

It is a suitable investment option for individuals in any financial situation, allowing for investments as low as 100 per month in equity. Therefore, SIP can be considered a feasible stock investment for everyone.

Even individuals without a fixed income can participate in SIP by setting aside an emergency fund. After allocating the emergency amount into a liquid fund or ultra short duration fund, monthly SIP investments can be made. This makes SIP accessible to individuals with varying income levels.

SIP serves as an excellent investment tool for saving for children's higher education, as even a small amount invested regularly can grow into a substantial sum over the years. For example, investing Rs 1000 per month can yield Rs 5 lakh after 15 years.