How much should someone gift a graduate?
Emily Perales was just steps away from stepping across the stage at the University of Minnesota as a college graduate. It's an educational achievement that often has family, relatives and friends digging deep into their wallets to honor those in a cap and gown.
"As a college graduate, money's always great," Perales said of potential gifts coming her way.
So, how much should you gift a graduate?
"Depends on how well you like them," Mary Bahneman joked. "Maybe $75 to $100."
"I think anywhere between like $50 to $100 is a good gift," Thomas Foster added.
According to a National Retail Federation (NRF) survey, people will spend an average of $116 on a graduation gift, up nearly $20 since 2014. More than half of respondents planned to give money (53%). About one-third will give a gift card (34%).
What factors influence how much someone gives?
"I think it depends on if they're related to you," Bahneman said.
"I feel like a grandparent would be way more likely to give more," U student Julia Lora said.
Before dropping cash or a check in a card, Western Union said to consider these factors:
- Relationship to the graduate: Are they an immediate family member or distant relative?
- Your financial situation: How much money are you capable of giving without hurting your budget?
- Local customs or traditions.
- Type of graduation: The level of school the graduate has reached could mean more money.
"I had a great nephew graduate from high school last year, and I believe we gave him $50," said Bahneman.
How much should someone gift a college graduate?
Research shows it's often a larger amount than high school graduation.
"From grandparents, honestly, I've seen either like thousands (of dollars) around there," said Megan Perales.
According to Western Union, parents and grandparents tend to give college graduates $100 to $500. The range for relatives is between $50 and $250. Friends and acquaintances are under $50.
How much should someone gift a high school graduate?
"I would say probably like around $100," Lora said.
Western Union said $30 to $200 is the typical gift range for a high school graduate, with parents and grandparents again giving the most.
What other gifts are popular besides money?
Those WCCO asked mentioned experiences, like a concert ticket, as a meaningful gift. Others suggested jewelry. Perales had a more useful idea.
"Since I'm going into adulthood, it would probably be something related to my job or something related to apartment living," she said.
Clothing and electronics were the next most popular gift ideas in the NRF survey.
