3 ways to help your grandchildren get ahead

(NC) Most grandparents will admit that being one is much easier than being a parent. You get the joy of meeting a new person and watching them grow and thrive, but then you can hand them back to the parents when a diaper needs changing or a temper tantrum sets off. No matter how hands on or off you are as a grandparent, there are some simple things you can do to help them along the journey of life.

Volunteer as the sitter
Young parents face countless new expenses, from diapers, soothers and baby food to strollers. One or both parents may also have taken parental leave with little or no income coming in during some of that time. In short, they don’t have a lot of disposable income. But it’s important for young parents to maintain a semblance of a social life, whether on a date night or just meeting up with friends without the distraction of kids. If and when you can, volunteer to take your grandkids off your kids’ hands. You’ll get to spend quality time with the children, and their parents get a chance to recharge their batteries. All involved will benefit.

Pass on your talents
Whether it’s when you’re babysitting or just visiting the little ones, share the wisdom you’ve accumulated over the years every chance you get. If you speak another language, try to teach them some key words and phrases. Are you the chef in your family? Set the kids off on a lifetime of culinary exploration by teaching them your favourite dishes. Even the littlest ones can lend a hand by rinsing produce and, as they grow, they can graduate to stirring the pot or chopping veggies. Have a hobby? Get the grandkids involved when they’re old enough to participate safely. Even just talking to them about when and where you grew up will open their eyes to a world beyond their doorstep.

Contribute to their education
If you think back to how much it cost you to get your post-secondary education, including tuition, accommodations, meal plans and books, the dollar value probably wouldn’t even add up to a year’s tuition today. The CST Foundation projects the cost of a four-year university program while staying at home would be $78,000 in 2042 based on university websites and Statistics Canada data. One of the best ways to save for a child’s future education is through a Registered Education Savings Plan (RESP). Anyone can open or contribute to a child’s RESP, including their grandparents.

Learn more about RESP options at cst.org.