Four Money Mistakes Even Good Grandparents Make With Grandkids

Of course you want to spoil your grandchildren. Who doesn't? You can do it in ways that won't teach them bad habits or set unrealistic expectations, though.

A grandma hugs her grandkid on the sofa.
(Image credit: Getty Images)

As a grandparent, I know that there is no greater joy than to experience the phenomenon of being one. And the thrill increases as we become more and more significant to our grandchildren.

Now more than ever, grandparents are an incredibly important part of their grandchildren’s lives. The U.S. Census Bureau reported that 6.7 million grandparents are living with their grandchildren, and about 33% of grandparents who live with grandchildren under the age of 18 are responsible for their grandchildren’s care.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Neale Godfrey, Financial Literacy Expert
President & CEO, Children's Financial Network Inc.

Neale Godfrey is a New York Times #1 best-selling author of 27 books, which empower families (and their kids and grandkids) to take charge of their financial lives. Godfrey started her journey with The Chase Manhattan Bank, joining as one of the first female executives, and later became president of The First Women's Bank and founder of The First Children's Bank. Neale pioneered the topic of "kids and money," which took off after her 13 appearances on "The Oprah Winfrey Show."