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Grandparents footing the bill

Posted on 27th May 2008

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Children and parents are increasingly relying on grandparents to pay for things like school fees and, later in life, first homes, it has been reported.

A survey by YouGov for KidStart found that nearly two-thirds of the grandparents surveyed made regular financial contributions to the benefit of their grandchildren.

The contributions ranged from giving out pocket money to helping them get onto the property ladder.

It is believed this reliance on the 'grey pound' has arisen from the continually escalating costs of bringing up a child in the UK.

Around ten per cent of grandparents said they helped pay school fees and 17 per cent had financed a first car.

While 37 per cent of parents regularly give their children pocket money, this is nearly matched by 31 per cent of grandparents who supplement this.

KidStart's co-founder Chris Hodgson told the Express: "Spoiling is the traditional role of grandparents but the people we spoke to are just wanting to help out."
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