Raising kids has gotten so expensive, parents are turning to an unexpected lifeline

The useful part

More than 3 in 4 parents say relying on Boomer grandparents is essential to afford raising kids Raising children is becoming more and more costly, and modern parents are feeling the strain. Now, according to one new report, grown adults with children are relying on their own parents in high numbers. adults by the global market research company Ipsos for the 2026 BMO Real Financial Progress Index.

How it works

• Meanwhile, even nonparents are concerned about the cost of raising children, as 79% wonder how their peers can afford to have families.
• The research found that the large majority of parents in the U.S.
• believe that the cost of raising children is "out of control," with 82% agreeing with the sentiment.
• "Raising kids has always been a labor of love, but right now, it is also a major feat of financial engineering with families torn between spending on the urgent and the important," Robin Growley, U.S.

Details worth keeping

Head of Consumer Products, BMO, said in a news release. Growley continued, "Whether you are budgeting for diapers or dorm rooms, the absolute best antidote to daily financial stress is a clear, actionable plan." For many modern parents, part of the plan seems to be relying on their own boomer parents to afford raising their kids. Mostly, that group is getting help with daily living expenses.