Grandparents offer financial support
Published On 21 November 2007
The nation's grandparents are saving their children hundreds of pounds by offering financial support to help bring up the grandchildren.Research from Birmingham Midshires found that parents in the UK think they spend on average £900 less each year thanks to help from grandparents.
Grandma and grandpa spend an average of £75 a month subsiding everything from food costs to toys, the report found.
"Far from being a burden on their children, grandparents are contributing significant amounts of time, money and assistance to their offspring at the same time as adjusting to huge changes in their own lifestyle and income," said Jason Robinson from Birmingham Midshires.
The study also revealed that grandfathers tend to be more generous, spending £69 a month compared to £45 spent by grandmothers.
As well as helping out with the grandkids, it seems the UK's grandparents are also treating themselves. A recent report from Bradford & Bingley found that the over-50s account for 35 per cent of all trips abroad.
