Latest money news: One in four grandparents giving up holidays to save money for grandchildren --[Reported by Umva mag]

Welcome to Metro’s money blog where we’re sharing the latest on the sacrifices millions of grandparents make for their grandchildren.

A new survey has found that one in seven grandparents aren’t going on holiday so they can give the money to their grandchildren instead. One in 10 aren’t socialising at all and have remortgaged their home.

They have their reasons. Four in 10 people have turned to their grandparents for money as the cost of living crisis continues to grind.

It comes as a deal might go through today that rescues TGI Friday’s, which has 87 sites and employs some 2,000 staff, from administration. Investment group Breal Capital and Calveton could buy the flailing American diner-style chain though would only throw a rope for 55 branches and about half of staff.

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