How Much Money Are You Supposed to ‘Gift’ College Graduates?
It's the season for graduations, and that means lots and lots of graduation parties, so how much are you supposed to give to those college grads?
Financial gift giving is always a toughie, do you give an amount based on how well you know the graduate? How old they are? How broke you are?
You don't want to give too much, because well, you need money too, but you don't want to give too little, because there's a chance that will come back to haunt you, or you will feel bad when you realize the gift might not be appropriate.
So what's the official amount you should give college grads?
According to Love to Know, college grad gifts should be about $100, as a base.
Let's face it, graduating from college is a big deal so that substantial $100 gift makes sense right?
Now if you are very close to the graduate and have the financial means to give more, then give more, the website suggests $100-500.
While that makes sense to me, I also think there's one more component that's not addressed in that article, and that's whether the gift is coming from one person or a couple.
I, being one person, take that into consideration while giving gifts. If I was married and one of my cousins or family friends graduated from college, I would give $100, but I'm just one person on one income, so I would probably give $50-75 depending on how well I know the person.
What do you give to college grads?