Are you struggling with deciding how much money to give as a gift for a college graduation in 2023? You’re not alone. This is a common dilemma that many people face, and it can be difficult to figure out the right amount to give without feeling like you’re either too cheap or too generous. But don’t worry, we’ve got you covered! In this article, we will discuss different factors that can influence the amount of money you should give and provide some expert guidance to help you make the best decision.
Factors to Consider When Deciding How Much Money to Give for College Graduation Gift 2023
There are a variety of factors to consider when deciding how much money to give as a graduation gift. Here are some questions to ask yourself before making a decision:
What is your relationship with the graduate?
Your relationship with the graduate can have a significant impact on how much money you should give. If you’re close with the graduate and have been supporting them throughout their college journey, then you may want to give a more generous gift. On the other hand, if you’re not as close with the graduate or haven’t been as involved in their life, then a more modest gift may be appropriate.
What is your budget?
It’s important to consider your own financial situation when deciding how much money to give. You don’t want to overextend yourself and put yourself in a difficult financial position. It’s better to give what you can afford rather than trying to keep up with what others are giving.
What are the graduate’s future plans?
If the graduate has specific plans for their future, such as going to grad school or starting a new job, you may want to give a gift that will be useful in helping them achieve their goals. For example, you could give them a gift card to a store where they can buy professional clothing or equipment for their new job.
What is the average amount given in your area?
It’s always helpful to do some research to find out what the typical amount given as a graduation gift is in your area. This will give you an idea of what others are doing and can help you gauge whether your gift is appropriate.
What is the current economic situation?
The current economic situation can also influence how much money you should give. If times are tough, it may be better to give a smaller gift rather than going overboard.
How Much Money Should You Give for College Graduation Gift 2023?
Now that we’ve discussed some factors to consider, let’s get down to the nitty-gritty: how much money should you give? Unfortunately, there is no one-size-fits-all answer to this question. The amount you give will depend on your individual circumstances, budget, and relationship with the graduate.
However, here are a few general guidelines to keep in mind:
- Family members and close friends: $50-$100
- Acquaintances and distant relatives: $25-$50
- High school friends/college roommates: $20-$50
Of course, these are just guidelines, and you should adjust them based on your own circumstances. For example, if you’re particularly close with a distant relative, you may want to give a more generous gift than the guideline suggests.
Q: Is it okay to give a non-monetary gift instead of cash?
A: Absolutely! In fact, a thoughtful non-monetary gift can be just as meaningful (if not more so) than cash. Consider giving a sentimental item, such as a photo album or scrapbook, that the graduate can cherish for years to come.
Q: Should I give more if the graduate earned honors or graduated with a high GPA?
A: While it’s not necessary to give more if the graduate earned honors or graduated with a high GPA, you may want to consider doing so as a way to recognize their hard work and achievements.
Q: What if I can’t afford to give much?
A: It’s important to give what you can afford, even if it’s not as much as you would like. Remember, the thought and effort put into the gift are just as important as the amount of money spent.
Q: Is it okay to give a group gift?
A: Yes, a group gift can be a great way to split the cost and give a more substantial gift. Just make sure that everyone agrees on the total amount and contribution.
Q: Can I give a gift card instead of cash?
A: Absolutely! In fact, a gift card to a favorite store or restaurant can be a thoughtful and practical gift that the graduate will appreciate.
Deciding how much money to give for a college graduation gift in 2023 can be a challenge, but with some thoughtful consideration, you can make the right decision. Remember to take into account factors suchsuch as your relationship with the graduate, your budget, and the graduate’s future plans. While there are general guidelines to follow, ultimately, the amount you give should be based on your own circumstances and what feels appropriate to you.
If you’re still struggling to decide, it’s always a good idea to ask friends or family members for their input. And remember, the most important thing is not the amount of money you give, but the thought and effort put into the gift. A heartfelt congratulations card or sentimental item can be just as meaningful (if not more so) than cash.
In the end, whether you give $20 or $100, what matters most is showing your support and pride for the graduate’s accomplishments. So go ahead and give with confidence, knowing that your gift will be appreciated no matter the amount.