The Best Grad Gift Is Money — and Lots of It

The Best Grad Gift Is Money — and Lots of It Photo (cc) by US Department of Education

Stumped on what to give the 2014 graduate after they collect their hard-earned diploma?

A new survey from RetailMeNot found that half of consumers think money is the best way to congratulate a new graduate. But how much money is adequate? That depends on the graduate’s level of schooling. According to the survey:

  • High school grad. Most people think $165 is a good gift.
  • College graduates. Earn a college degree and you could collect a bigger monetary gift. On average, consumers consider $464 an appropriate gift amount for a college grad.
  • Graduate school grads. You could potentially receive the biggest gift if you graduate from grad school. Most people think $772 is an adequate gift for a grad school graduate.

Am I really cheap, or do those monetary gifts seem steep? I didn’t expect, nor did I receive, anything close to those amounts when I graduated from high school or college. Sure, that was a decade ago (OK, a decade plus a few more years), but I can’t imagine giving that kind of money as a grad gift.

If you’re looking to give a graduation gift without breaking the bank, check out our list of budget-friendly grad gifts.

RetailMeNot said 1 in 5 people surveyed graduated from college with some debt. The average debt was $22,988. But about 23 percent of people owed $30,000 or more. So money seems to be a practical, and much-needed, gift for a new graduate.

The survey also indicates that graduates wish they would have received more advice about the realities of adult life, including: saving money, avoiding spending beyond their means, being wary of credit cards, finding a job quickly and investing. After all, they’re facing a brutal job market.

How much would you spend on a graduation gift? Share your thoughts below or on our Facebook page.

Popular Articles

6 Tips to Age-Proof Your Resume
6 Tips to Age-Proof Your Resume

Finding a job isn’t easy — and it sometimes feels like too much experience actually counts against you. These tips will help.

How All 50 States Tax Your Retirement Income
How All 50 States Tax Your Retirement Income

Find out which states are friendly, and not-so friendly, with the money you’ll need in your later years.

7 Reasons You Should Rent a Home in Retirement
7 Reasons You Should Rent a Home in Retirement

Renting is a better fit than owning for many retirees. Here’s how it can pay off during your golden years.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Trending Stories

Comments

904 Active Deals

More Deals