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How boomers are losing $11,000 a year to millennial children

GOBankingRates Logo By Cameron Huddleston of GOBankingRates | Slide 2 of 17: Millennials report that the bulk of support they received in the past year — $8,684 — came in the form of unpaid labor. More than half of those surveyed said they got help from their parents with child care or running the household.On average, boomer grandparents provided 14.3 hours of primary child care per week and 9.2 hours of back-up care or babysitting. Millennials also said their parents spend more than 10 hours a week helping them prepare meals, clean the house and run errands — all ways to save money, but they take time.

Boomers Are Providing Child Care and Household Help

Millennials report that the bulk of support they received in the past year — $8,684 — came in the form of unpaid labor. More than half of those surveyed said they got help from their parents with child care or running the household.

On average, boomer grandparents provided 14.3 hours of primary child care per week and 9.2 hours of back-up care or babysitting. Millennials also said their parents spend more than 10 hours a week helping them prepare meals, clean the house and run errands — all ways to save money, but they take time.

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