BOURNEMOUTH, ENGLAND – Carol Forsloff – Guess what folks, grandparents are more valuable than you think. In fact in the United Kingdom some enterprising folks
The value comes with child care while parents take vacations.
The estimate in the UK
is that grandparents will save parents around $806 million in terms of
the GDP in childcare costs this summer, new research reveals today.
Grandparents who take care of those little ones could cost out of pocket for parents $558 million if they had to pay for it.
The RIAS ‘Summer Holiday Helpers’ study finds that over half (60%) of the 12.5 million over 50s
grandparents across the UK, equivalent to 7.5 million grandparents,
regularly provide childcare for the grandchildren. Of these grandparents
providing childcare, 50% claim these important duties increase, often
substantially, during the school summer holidays in July and August, as
parents rely on them to look after their grandchildren.
Janet Connor, Managing Director of RIAS,
comments: “Our ‘Summer Holiday Helpers’ study shows just how much
grandparents contribute to family life, not just by giving wisdom,
experience and love but also their time. As working hours get longer and
the impact of previous years’ economic turmoil hangs over us, it looks
as though parents are relying on grandparents more than ever before,
especially over the long summer holiday break.
That’s a lot of savings and help for families.
And a lot of value for having grandparents.
have actually quantified their value during the summer.