GENEROUS Bolton grandparents fork out more than £6,600 on each grandchild by the time they are 18.
A survey carried out by M&S Money shows that, on average a newbaby has £340 spent on him or her by doting grannies in their first year, with £284 in subsequent years as well as £64 a year on birthday and Christmas presents.
Nearly one in five grandparents spends more than £50 on Christmas presents for each grandchild and nine percent also spend more than that on birthday gifts.
Despite pensioner income being squeezed 22 per cent of grandparents admit spending more on treasured grandchildren than they did on their own children.
Nearly one third of all grandparents give children savings to use when they are older and 13 percent also regularly give the youngsters pocket money.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article