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12/18/2013 10:53 am ET

Grandparents Scrimp, But Splurge On Grandkids

Blend Images - KidStock via Getty Images

Grandparents may cut back on their holiday party treats, throw a little less tinsel on the tree and recycle last year's holiday outfit, but they don't want to stop indulging their grandchildren.

"People will do a lot of things for their children. They will do anything for their grandchildren," said Peter Francese, a demographic expert who has studied grandparents' spending habits extensively.

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