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Grandparents providing financial support

The rising cost of day to day living means that families are increasingly calling on grandparents to help out financially, a new study has shown.In a poll conducted by YouGov on behalf of Kidstart, 2,000 parents and grandparents were asked how they had assisted their children over the last 12 months.It was discovered that 64 per cent of grandparents regularly make a financial contribution to their grandchildren.This covered everything from providing pocket money to helping them raise a deposit for their first home.Chris Hodgson of Kidstart said: "We were surprised at how much grandparents contribute financially to their grandchildren's future. "But grandparents who have witnessed changes in the economy first hand are more likely to understand the value of money, so it shouldn't be surprising."More than one in three, 34 per cent, of the grandparents polled claimed that they regularly bought items of clothing and toys for their grandchildren.

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