ALBUQUERQUE (KRQE) – Grandparents play a large roll in family budget, but they don’t have to spend a fortune to help out.
Mike Suttle of Suttle Financial joined KRQE’s This Morning team to discuss ways grandparents can contribute to their families that won’t break the break.
With childcare being one of the biggest expenses for a young family, Suttle suggests a non-monetary form of help from grandma or grandpa.
One year of care for an infant at daycare can exceed the purchase of a car. According to ChildCare Aware, it can cost up to $14,508.
For those grandparents that may be retired or only holding a part-time job, watching the grandchildren a few days a week can help to sooth monthly childcare costs.
A few other tips Suttle suggests is to realize when their grandchild has enough “stuff” and to start building a college savings.
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