Conversations

Groovy Grandmas and Gregarious Grandpas

Part II

Do you know what to call a groovy grandma that goes BANANAS over her grandkids? A Banana Nana of course!! Can anyone relate with that definition?  I know I can.  When that first grandchild is born we turn into a whole new creature complete with a new name.  We may be called grandma, granny, gigi, papa, pops or a myriad of other names, but rest assured our lives are forever changed. 

There is no denying that a special bond takes place between grandparents and their grandchildren.  There is a mutual love and respect that is not easily broken.  This bond sets grandparents up to be great leaders and influencers for their grandchildren.  Today I want to challenge you to consider using your influence in six ways that can strengthen the entire family.

Mentor your grandchildren to become little entrepreneurs.  Ideas might include selling vegetables at a Farmer’s Market; pet sitting for the neighbors, lawn care or organizing a family yard sale.  It’s a great way to spend time with your grandchildren while allowing parents a little kid-free time. Helping children develop their own business also teaches them about work, money and how to get along with the public. 

Teach your grandchildren about finances.  According to Nathan Dungan, only about 10 percent of American parents make a formal effort to teach their kids about managing money and personal finance.  Grandparents can help fill that void by taking the time to teach their grandchildren the concept of “Share, Save, Spend”.  Grandparents can be a voice of experience and reason on a wide range of financial matters such as understanding banking basics and how to save for major purchases. Allow Extension to assist you with this task.  We offer a free financial literacy course on line for our rising young adults. Visit loveyourmoney.org to sign up today.

Grandparents can be the coolest dorm in town (or at least the cheapest).  If you have a college in your area offer your grandchildren free room and board at your place if they want to attend the local school.  According to the College Board, the average cost of room and board at a public university is now nearly $30,000 for a four year degree.  Allowing grandchildren to board at Nana’s house will make a significant impact on their educational expenses.  This could be a win-win situation if your grandchild is willing to assist with chores or repairs around the house as well.

Donate a set of wheels or other treasures to the cause.  My grandparents surprised me by donating their old 69 Chevy Impala to me during my senior year of high school.  It was an ugly gold color and the size of Sherman’s tank, but I grew to love that car.  Thirty years later, I still reminisce about that car and all the fond memories it held.  Don’t assume that your would-be throwaways – from furniture and clothing to cars and housewares – won’t be appreciated by your grandkids.  Hand-me-downs will save them money when they’re starting lives of their own and need it most.

Make your checks count.  I know we all want to provide the very best for our grandchildren and we find joy in writing that check for a birthday, Christmas or other special accomplishments.  However, look for opportunities to teach something along the way.  For example, you might be willing to match funds to buy their first car or to go on that class trip.  This teaches them about accepting responsibility for their own wants and allows them to experience the struggles and joys of saving up for something major.

A special warning to new grandparents: Be sure what you plan to do with the first grandchild can be repeated with multiple grandchildren down the line.  This can cause resentment from your own children who have kids later in life.  Remember that whatever you do for your first grandchild will set a precedent that you’ll need to repeat for every other grandchild.

For more information on Grandparenting contact the Extension office at 423-949-2611 or visit our website at http://sequatchie.tennessee.edu or like us on Facebook www.facebook.com/UTExtension.Sequatchie.