7 signs you can’t afford to spoil your grandkids the way you want

Paul Bradbury/Getty Images

If you’re simply trying to give them as much now as you can, it probably won’t be as helpful in the long run. Instead, it’s probably better to think qualitatively, and give what will improve their lives.

“Instead of giving gifts, you might want to just hold onto your assets,” says Pak.

“It’s not always black and white,” he says, since everyone’s financial situation is different. While there’s no magic number for the amount you should give, the fact that you’ll still need funds to live on is the same for everyone.

• More personal finance coverage
• What’s the best airline credit card?
• The best cash back credit cards
• Are CDs a good investment?
• When to save money in high-yield savings
• Best rewards credit cards