How much will grandparents spend on caring for grandchildren this summer?

Spending quality time with grandchildren over the summer can sadly cause some money worries for grandparents, a new survey shows.

Four-fifths of grandparents expect to look after their grandchildren at least one day per week over the summer
A grandmother and young children Four-fifths of grandparents expect to look after their grandchildren at least one day per week over the summer (Alamy Stock Photo)

The summer holidays can give grandparents and their grandchildren a welcome opportunity to catch up and have some fun together.

A bit of grandparent-grandchild bonding time can also make life significantly easier for parents who are trying their best to juggle work commitments and keep childcare costs down over the summer break.

But sadly for some grandparents, taking care of their grandchildren can put a strain on their own wallets.

MyVoucherCodes commissioned research that asked 1,000 grandparents of grandchildren aged under 18 about how much they will help with childcare over the summer – and how much they will spend.

(Alamy Stock Photo)

Its research indicates nearly half (45%) of grandparents will help with childcare during the summer holidays, expecting to spend £15.80 on average each day on outgoings such as food, drinks, snacks, treats, trips and activities.

Some grandparents expect their outgoings to be significantly higher – 5% of grandparents surveyed expect to spend more than £50 per day per grandchild.

Four-fifths (80%) of those helping out with childcare over the summer expect to look after their grandchildren at least one day per week.

Some grandparents aren’t concerned about the financial costs associated with treating their grandchildren during the summer holidays, with 44% saying they don’t worry at all.

But for others, having quality time with the grandkids isn’t stress-free.

Nearly three in 10 (27%) grandparents surveyed say they do worry about the cost of looking after their grandchildren.

One in 16 (6%) worry a lot about the cost, according to the survey of 1,000 grandparents in May and June, carried out by OnePoll.

Sarah-Jane Outten, a shopping expert at MyVoucherCodes, says: “Many working parents, me included, depend on our family to help out with childcare during the long summer holidays.”

She adds: “Looking after your grandchildren over the summer holidays should be a pleasure and not a financial burden, so take time to make plans, seek out offers and deals and plan your days around them.”

(Alamy Stock Photo)

Outten suggests: “When it comes to days out there are also lots of deals you can take advantage of, with discounts on everything from coach travel to city tours and days at adventure parks.

“Jump online, or if you aren’t confident on the internet get your child or grandchild to help you, and search for days out or meals out discount codes and see what’s on offer.”

If costs are a concern for grandparents, it may be worth having a chat about this with their own adult children and perhaps working out a daily budget that both parents and grandparents can chip into, so that costs are more evenly split.

(Alamy Stock Photo)

Perhaps there may be some alternative childcare options for parents, so that they are less reliant on grandparents to fill in the gaps.

The website has information about the support available.

There may also be an added benefit to caring for grandchildren – as some grandparents may find that it could help to boost their pension.

More information about specified adult childcare credits, which can count towards state pension entitlement, can be found on the website.