Grandma, What a Large Bank Account You Have!

Survey shows most grandparents are spending lots of time—and money—when it comes to grandkids

by Lesley Kennedy • Reporter

There’s an old saying that goes, There’s no place like home—except Grandma’s. But more and more often the two are beginning to seem like one and the same.

USA Today reports nearly three quarters of grandparents babysit or care for their grandkids weekly, according to a new MetLife Mature Market Institute/Generations United survey.

And if they’re not giving time, they’re giving money. The newspaper adds that 62 percent of grandparents have given an average of $8,289 to their grandkids in the last five years.

“Grandparents are being asked to help financially and relieve the financial burden of child care, by taking care of their grandchildren,” Generations United Executive Director Donna Butts tells USA Today. “They have a tendency to be healthier and want to be involved in their grandchildren's lives. They're not as interested in moving away from their families. If anything, they would move to be closer to their grandchildren.”

Another old saying goes, Grandmothers never run out of love—or cookies. Or, apparently, time or cash. Now that's love.

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First Published Thu, 2012-09-06 22:06

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