Spending money on grandchildren

Filed by Dotsie Bregel

Everyone's talking about the money boomers have to spend. With Christmas fast approaching, I'm thinking about the amount of money boomers will spend on their grandchildren.

According to an article written by Sue Stock for the Raleigh News and Observer it's estimated that grandparents spent $23 billion on their grandchildren in 2002. Now that was the whole year, not just the holidays. But I've been chatting with lots of boomer women and let me tell you, they adore their grandchildren. To prove that adoration, they're buying toys, clothes, DVDs, electronics, baby furniture, strollers, you name it. They can't wait to please the little ones when they pay their holiday visits.

We've been accused of spoiling our children. Now it seems we are carrying it to the next generation.

For a generation that has been referred to as the Me Generation, I just don't get it. Heck, we're spending money on our children, grandchildren and in many instances, are writing checks for our parents to help subsidize their funds. I'm happy to share that I think we are a most generous generation with more to give in future years.

On whom are you spreading your money this holiday season?

Dotsie Bregel is the founder of the National Association of Baby Boomer Women, www.nabbw.com, and Boomer Women Speak, www.boomerwomenspeak.com, a key site on all search engines for "baby boomer women." She has been mentioned in Time magazine, the Los Angeles Times and AARP Bulletin among dozens of newspapers across the nation. She is on the editorial board of me* magazine and writes book reviews for boomer magazine. She frequently does radio interviews and has appeared on The Early Show (CBS) with Dave Price.