Grandparents will save their kids £7.7bn in childcare costs this summer – but what is it costing them?

New data shows 43% of grandparents regularly look after their grandchildren in the school holidays, saving parents a small fortune. What are the downsides?

Grandfather giving piggyback ride to grandson at home
Is the economy too reliant on unpaid carers – and do they know the financial implications of what they are taking on?
(Image credit: Westend61 via Getty Images)

School’s out for summer, and while the kids might be delighted by the prospect of endless days of sunshine, adventure and ice cream, it is unlikely to fill working parents with the same sense of joy. 

To cover the school holidays, many parents have to cobble together a mix of holiday clubs, childminders and nannies – often taking a hefty amount of annual leave and relying on friends and family for help too. 

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.