Americans are spending more than ever on graduation gifts, with total spending topping $5.8 billion in 2021 and 2022. However, graduation season generosity raises some tricky questions for parents, relatives, and friends.
Namely how much money is the right
amount of money to give as a graduation gift?
This article walks you through the key factors in deciding how much money to give for a graduation gift. We’ll consider factors like your relationship to the graduate, the level of graduation, and your financial situation. We’ll also look at gifting norms for high school and college graduations.
Balancing these factors will guide
you toward a gift amount that is both 2024 Lebanon Telegram Users Library within your means and appropriate for the graduation at hand.
4 factors to consider when deciding on a graduation gift amount
Figuring out how much money to give for a graduation gift comes down to context. How well do you know the grad? Are they graduating from high school? College?
Are there any cultural customs to consider
What’s your financial situation?
These are all questions to ask as you settle on a gift amount that is both meaningful and within your budget. Now let’s take a closer look at four core factors that go into gifting the perfect sum:
Relationship to the graduate
Financial situation
Local customs and traditions
Type of graduation
Relationship to the graduate
Gifting money to family and friends is nuanced. For example, the closeness of your relationship plays a big role in determining how much money you should give to a new graduate. The closer you are, the more you might give.
Parents and grandparents often
support the graduate with larger gifts.
Other close relatives, friends, colleagues, or distant relatives tend to gift more modest amounts.
Friends and acquaintances often opt for smaller gifts.
Whatever the relationship, cash and other gifts are great ways to celebrate the graduate’s achievements.
Financial situation Graduation parties and events
can bring stress for families and friends of soon-to-be graduates — especially around the cost of graduation gifts. Social pressures and uncertainty can lead some to go beyond what they can comfortably afford with their gift amounts. That’s why it’s crucial to consider your financial situation when deciding how much money to offer as a graduation gift.
One simple way to avoid overextending
your finances during graduation season is BTC Email List to make a plan and stick to it. That means deciding on a total budget, taking into account how many graduates you’ll be gifting, and how much you plan on giving to each.
Setting a budget and sticking to it can take the stress out of graduation season. And if you do make a plan for graduation season, keep in mind that these gifts are voluntary. No one else decides how much you should give.
Local customs and traditions
Take local norms into account when deciding how much money to give as a graduation gift. Different cultures have different traditions and different ideas of what is appropriate.
Knowledge of the recipient’s culture — C Level Contact Number Data whether you live in it or not — can guide your decision and ensure that your gift aligns with expectations.
