The Bank of Nan & Pop: How Australian grandparents are supporting their grandkids

Australians love a cosy family story – but behind that warm glow is something very practical happening in homes across the country. Grandparents are doing far more than the occasional babysit or birthday present; many are quietly stepping in with childcare, financial support and everyday care that parents simply couldn’t manage alone.

That’s not just warm sentiment – it’s backed by research. Around two in five grandparents of children under 13 provide some childcare to their grandkids, especially when they live nearby and the youngest child is younger than 10. Many do it on a regular, weekly basis, while others help out during school holidays or when mum and dad juggle work or study commitments.

And while that care may come without a dollar exchange, its value is enormous. A landmark study estimated that Australian grandparents collectively save families billions of dollars a year in childcare costs through unpaid “greycare”, clocking up significant hours and giving parents the freedom to work, run errands or just catch a breath.

But it isn’t only childcare that grandparents are contributing to. A survey of Australian grandparents revealed that among those who provide financial support towards their grandchildren’s education, the average contribution is nearly $2,000 per grandchild per year – often drawn from personal savings, employment income or even pension money.

These figures don’t capture every grandmother spoiling with a birthday gift, or granddad putting aside pocket money, or those who chip in at times of need – they just point to a deep level of involvement and generosity that characterises many grandparent–grandchild relationships.

Why They Do It — And Why It Matters

For most grandparents, the motivation lies in connection and care more than obligation. Around nine in 10 say they enjoy spending time with their grandchildren, and about three-quarters believe their support means children aren’t left in the hands of strangers.

Grandparents also report that they provide care to help parents manage the rising costs of childcare – not to replace formal care but to complement it. That can make a real difference in family budgets, especially when childcare fees can eat up a surprising chunk of household income.

And for the grandparents themselves? Many describe the experience as joyful and meaningful. Being a grandparent often allows them to form a special bond – a second chapter of caregiving without the full-time responsibility they had as parents. It’s a role that can bring laughter, pride and even purpose to their own lives.

Of course, not all grandparents can help equally. Distance, health and family relationships can all be barriers – meaning not every family has this support network available.

A Two-Way Street

From the strength of family bonds to the practical help they offer, Australian grandparents are proving to be much more than weekend visitors. They’re an integral part of many modern families – providing time, love and often considerable support that helps parents juggle work, life and the ever-present price of raising kids.

And for many grandparents? The reward isn’t just financial – it’s in the hugs, the shared stories, and the little voices calling “Grandma!” all through the day.