‘Tis the season to celebrate new achievements and milestones! Graduation parties are popping up everywhere, and with them comes the age-old question: **How much should you gift a graduate?**
Understanding the Gift Spectrum
Imagine being just steps away from receiving your diploma, like Emily Perales, who is about to cross the stage at the University of Minnesota. This monumental occasion often inspires friends and family to dig deep into their wallets to honor those in their caps and gowns.
As Perales puts it succinctly, “Money’s always great!” So, how do you determine the right amount to gift?
The General Consensus
Graduate gift-giving can be a delicate balancing act. As Mary Bahneman humorously notes, “It depends on how well you like them.” A suggested amount ranges from $75 to $100, while Thomas Foster believes $50 to $100 is standard.
According to a National Retail Federation (NRF) survey, the average amount people plan to spend on graduation gifts has climbed to $116, an increase of nearly $20 since 2014. Interestingly, 53% of respondents indicated they would give money, while 34% preferred gift cards.
Factors Influencing Your Gift
So, what influences the amount you gift? Bahneman points out that relationship matters. Julia Lora from UMN adds that “a grandparent would be way more likely to give more.”
Before you jot down a check or slip cash into a card, consider these factors from Western Union:
- Relationship to the Graduate: Are they an immediate family member or a distant relative?
- Financial Situation: What can you afford without straining your budget?
- Local Customs or Traditions: Every community has its unique way of celebrating.
- Type of Graduation: The educational level achieved usually affects gift amounts.
As Bahneman reminisces, “I had a great nephew graduate from high school last year, and I believe we gave him $50.”
Gift Amounts by Educational Level
College Graduates: The Bigger Picture
Research shows that gifts for college graduates are often more substantial than those for high school grads. Megan Perales shares, “From grandparents, honestly, I’ve seen either like thousands (of dollars) around there.”
According to Western Union, parents and grandparents typically gift college graduates between $100 to $500, while relatives usually fall in the $50 to $250 range. Friends tend to give under $50.
High School Graduates: A Different Landscape
For high school graduates, Lora suggests, “I would say probably like around $100.” Western Union asserts that typical gift amounts range from $30 to $200, with parents and grandparents once again being the most generous.
Beyond Cash: Other Thoughtful Gifts
While cash is king, many still look for alternative gifts. WCCO surveyed opinions and found that experiences, like concert tickets, were highly valued. Others recommended personalized items like jewelry. Emily Perales even proposed a more practical approach: “Since I’m going into adulthood, it would probably be something related to my job or something related to apartment living.”
In addition to these ideas, clothing and electronics ranked highly in the NRF survey.
Wrapping Up Your Gift Selection
As graduation season approaches, gifting can feel daunting, but by considering your relationship to the graduate and local customs, you can easily make an informed decision. Whether you choose to gift cash, experiences, or practical items, the key is to celebrate the graduate’s journey and support their next steps. Grad season is about honoring achievements, and any gesture—big or small—will surely be appreciated!
Celebrate wisely, and happy gifting!
