Over a third of parents expect financial aid from grandparents amid rising child-care costs
A BMO survey finds 37% of parents with young children plan to rely on money or childcare from their own parents within the next year as household budgets tighten.
According to BMO's Real Financial Progress Index, 37% of parents with young children expect financial assistance from their own parents or grandparents in the next twelve months, reflecting growing affordability pressures. The survey shows 82% of American parents feel child-raising costs are out of control, and 86% say everyday expenses like daycare and school supplies hinder long-term savings. Extended-family support is seen as essential, with 43% of those expecting help relying on grandparents for childcare and 26% counting on contributions to college savings plans.
Care.com’s 2026 Cost of Care report adds that families spend about 20% of income on childcare, and mental-health concerns have risen, including a 5% increase in parents contemplating suicide or self-harm. Proximity to relatives can reduce childcare costs by roughly $1,915 and grocery bills by $1,443 per year, yet 70% of those receiving help also shoulder the financial or emotional needs of aging parents, creating a “sandwich generation” dilemma.
Why it matters
The findings reveal how rising child-care costs are pushing families to depend on older relatives, intensifying financial and emotional strain across generations.
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