Grandparents are spending an average of £75 a month on their grandchildren, claims a new report.
Birmingham Midshires reveals that parents are saving a total of £900 a year on the cost of bringing up a child with entertainment, meals and presents from grandparents.
Some grandparents claim they could care for a child with £65 a month, £4.80 less than their weekly pension.
Jason Robinson, director of
Invesco Perpetual revealed earlier this year that the cost of bringing up a child in the UK is on average, at least £46 a week.
If a child relied solely on their parents for financial assistance until the age of 18, the total bill would reach £43,056, claims the investment company.
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