Cash is by far the most popular graduation gift. Among those who gave a grad gift, 56.7% gave cash and 32.1% offered gift cards, according to last year’s National Retail Federation survey. But what if you want to give something a little more creative, a little more personal, and something that will help your grad get the right financial start?
I asked college consultants, personal finance experts and some recent graduates for ideas that would be both welcomed by the recipient and not too hard on the wallet. People on average spent $49 on graduation gifts last year, which won’t exactly buy a round-the-world trip…or even a decent e-reader. But that amount can buy things like experiences (which contribute more to happiness than stuff), a cooking class, a pretty good carry-on bag (the better to avoid checked bag fees) and several other ideas. For more, read my Reuters column this week, “Financially smart gifts for the new grad.”
I found out that for my grandkids graduating from high school a Triple AAA Automobile Club membership got me more thanks than anything I ever gave them. Of course I continued the gift as long as they were driving to school or lived away from home. I can not tell you how many times they have told me stories of flat tires, dead batteries, keys locked in the care. Easy to do from home and one they will likely not get from others.
That’s a great gift, Pat! Thanks for sharing.