Many different levels of graduation occur at the end of spring and the beginning of summer. Deciding how much for college graduation gift. A cash gift is a very kind way to support someone as they move on to the next phase of their lives. But knowing what to get someone as a graduation present and what to look for when you write that check (or send that Venmo) can be a little tricky.
Money is a typical graduation present for a reason, regardless of the student in your life who is finishing middle school, high school, or college. They can use it for anything, including books, travel, and conveyance. Depending on the student’s age and your relationship with them, you should determine how much to give.
How Much For College Graduation Gift
The best way to decide how much for college graduation gift is to think about how much you can afford and how close you are to the graduate. You might want to give more if you’re very close to the graduate, but if they’re the child of a colleague or someone you know very well, you might not want to give quite so much.
As with most gift etiquette rules, there’s no one-size-fits-all answer to how much you can give a graduation gift. But there are some general guidelines to help you decide. Cash is always a good option when it comes to college graduation gifts. But how much for a college graduation gift?
1. Decide on a budget and stick to it
Spring is a beautiful time of year, but it can also bring with it a lot of stress for parents of graduating students. As someone who has been through this process before, I’m here to assure you that you’re not alone. If you’ve been bombarded with invites to graduation parties, open houses, and other graduation-related events, you’re probably wondering how you’re going to attend all of them and how you’ll pay for graduation gifts.
Nobody expects you to refinance your mortgage to cover graduation gifts. It’s a myth. The first thing you’ll need to decide is your overall graduation budget. This should include the amount you plan to give to each graduate, as well as the amount you plan on spending on your child’s graduation party.
2. Make a list
You may not think it, but you know graduates better than anyone else. For instance, give your child’s best friend a slightly bigger present than the guy who played soccer with him in 7th grade but hasn’t been a big part of his life since. Maybe your niece or nephew gets a bigger gift than the kid of a friend.
Create three tiers
- Close friends and family
It’s now time to start writing down names. Assign each name to one of these three tiers without much consideration. Once everyone has been assigned a tier, select how much of your money will be allocated to them. You naturally want to be generous to everyone, but that isn’t the purpose. You are not responsible for making sure that their kid has a deposit on their first flat or can pay for their first semester of college, unless it is your child. A graduation present is intended to be a token, a concrete means of expressing congratulations.
Break each tier down by recipient
First, count the number of people in the “acquaintance” tier. For example, if it’s six, you’ll divide $300 by six and end up with gifts of $50 each. Do the same for the “friends” tier. It might not be as evenly distributed when it comes to the “close friends and family” tier. Let’s say you have four graduates in this category. It’s okay to divide the money up in a way that indicates your closeness.
3. A great gift doesn’t have to be cash
Would a graduate be overjoyed to receive cash gifts worth thousands of dollars? They would, of course. Who wouldn’t want to? However, some of the most meaningful gifts most of us have ever received felt more personal than a paper check.
When you give a cash gift, the graduate knows exactly how much you spent. When you give an actual gift instead, they may have a rough idea, but you can keep the budget under wraps. Here is an idea to get you started.
- Memory album
I can’t tell you how many times I’ve accessed someone’s social media account in order to download personal photos (it’s not as creepy as it sounds!). The trick is to look for images that accurately represent the graduate. It could be photos of them participating in a sport, a school play, a debate club, or just hanging out with friends. You’re looking for photos that will bring back memories one day.
I order prints from a nearby drugstore after downloading the images I want to my desktop. Our neighbourhood drugstore almost always has 50% off prints. You’ll most likely spend no more than $15 on photos.
Michael’s and Amazon both have a good selection of attractive photo albums for around $15. Purchasing one of these and filling it with photos of the graduate can cost less than $30.
Take a break if you feel pressed to give more than you can afford. Remember your financial objectives and the budget you’ve created. This summer, you’ll have plenty of opportunities to spend your money.
Graduation marks a significant milestone in a young person’s life, signifying the culmination of years of hard work and dedication. As friends and family celebrate this momentous occasion, monetary graduation gifts often become a popular choice.
While some may perceive cash as an impersonal gesture, it can be transformed into a thoughtful and memorable present with a touch of creativity and personalization. Stepping away from the traditional method of simply handing over an envelope, there are numerous creative ways to present monetary graduation gifts that add a touch of fun and excitement to the occasion.
Frequently Asked Questions
- What is the average amount of money people give for a college graduation gift? The average amount of money people give for a college graduation gift varies depending on the relationship between the giver and the graduate. However, according to a recent survey, the most common amount of money to give is between $50 and $100.