Families need grand total

GENEROUS grandparents are quietly propping up family finances, spending £1,575 a year on average to help their children and grandchildren get by.

- By Harvey Jones

They now hand over an average of £113 a month on everything from food and snacks to school trips, days out and even holidays, new figures from over-50s experts SunLife show.

Nearly half provide regular weekday childcare too, racking up 17 hours a week on average. Most do this for free, with 95% not receiving a penny.

It’s not just babysitting either. Many also find themselves cooking meals, tidying up, ferrying children to activities and paying for uniforms.

A quarter of grandparents say the parents simply could not cope financially without them. Almost one in five admit they are relied upon far more than they had expected, while more than a third say they wish they could spend more “fun” time with their grandchildren rather than stepping in as unpaid childminders.