Millions of UK grandparents are avoiding booking holidays so they can save money to give to their grandchildren, a new survey suggests.
One in seven grandparents (16%) are forfeiting holidays so they can financially support their youngest loved ones, the poll commissioned by cruise company Ambassador Cruise Line indicated.
The survey suggested other ways grandparents are making sacrifices so they can pass on more cash include holding back on socialising with friends (12%) and remortgaging their home (8%).
We are proud to champion this amazing generation
The poll also indicated 40% of people in the UK have turned to their grandparents for money, while grandparents who spend time looking after their grandchildren clock up an average of 24.6 hours of childcare per month even though 38% receive nothing in return.
Ambassador Cruise Line has launched a campaign for Grandparents’ Day – which falls on Sunday – to be afforded the same status as Mother’s Day and Father’s Day.
Christian Verhounig, chief executive of the company, which caters primarily for the over-50s market, said: “Grandparents are the anchors of the family and Ambassador Cruise Line wants to provide a platform for people to recognise how important they truly are.
“Grandparents offer valuable wisdom, comfort and lessons to the younger generation, as well as support in times of need.
“We are proud to champion this amazing generation.”
– The survey of 2,100 UK adults was conducted by research company Mortar Research in September.
