Being an involved grandparent can have measurable mental health benefits and help teach grandchildren important life lessons, but it is also a way for families to manage overwhelming child care costs.
Child care expenses have skyrocketed in recent years. In at least 24 states and the District of Columbia, day care for a 4-year-old costs more than the average rate of in-state tuition at a public university. Running as much as $1,500 per month, it’s no wonder some parents are turning to their parents to bridge the gap.
This video from CBS News shows how boomer grandparents have become increasingly involved in providing child care for their grandchildren while Mom and Dad are at work. And, as you will see, they wouldn’t have it any other way.