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Is $1000 A Good Graduation Gift

Is $1000 A Good Graduation Gift? Solved (2022 Updated)

Last Updated on October 16, 2022 by Kimberlee Johnson

Graduation is a time of celebration! It’s a time when friends and family come together to commemorate one of the most important milestones in a person’s life. 

As you begin to plan your graduation party, you may be wondering what to give the graduate as a gift. $1000 is a lot of money to spend on someone, but it could be worth it if it’s the right gift. Is $1000 a good graduation gift?

Is $1000 Enough For A Graduation Gift?

man holding money

According to financial planners, the ideal graduation gift should be approximately one month’s rent or mortgage payment. For most people, this comes out to around $1,000. While this may seem like a lot of money, it can go a long way toward helping a graduate get started in their new life. 

With rising tuition costs and increasing competition for jobs, any extra financial assistance can be invaluable. So if you can give a little bit more, your graduate will surely appreciate it.

How Much is An Appropriate Amount?

Elementary Graduation 

A good rule of thumb is to give $20 to a close family member or friend and $10 to an acquaintance. You can always make a homemade card or gift if you are on a budget. 

Whatever you do, the most important thing is that the graduate knows you are proud of them and wish them all the best in their future endeavors.

High School Graduation 

If you’re close to the graduate, you may want to give a larger amount, especially if you know they are headed off to college and will have extra expenses. A general guideline for an amount to give for high school graduation is $20-$100, but this can vary depending on your circumstances. 

A smaller amount is perfectly acceptable if you’re on a tight budget. The most important thing is that the graduate knows that you’re thinking of him or her and wishing him or her all the best in the next phase of life.

College Graduation

woman hodling graduation certificate

While there is no set amount, there are a few factors to consider that can help guide you in deciding how much to give for college graduation

First, think about your relationship with the graduate. If you are a close relative, such as a parent or grandparent, you may want to give a larger sum of money than if you are a distant relative or family friend. 

Second, consider your budget and what you can comfortably afford to give. It’s important not to overspend or go into debt to give a large gift, as this will defeat the purpose of the gift. 

Finally, consider any other gifts you may be giving the graduate, such as money for a new car or help with rent or bills. 

What Can You Give That’s Equivalent To $1000?

One option is to make a donation to a charity or cause that is important to the graduate. This could be anything from a local animal shelter to a global organization fighting poverty. 

Not only will this gift be greatly appreciated, but it will also help to make the world a better place. 

Another option is to invest in the graduate’s future by contributing to their education fund. This could be used to cover tuition fees, books, or other expenses related to their studies. But how much do you give your neighbor for high school graduation?

FAQs

Should you give cash or a check for a graduation gift?

It depends. Cash is always a safe option, but some graduates prefer checks so they can deposit the money into their bank account and start earning interest on it right away. If you’re unsure what the graduate would prefer, go with a cash gift. 

How much should grandparents give for high school graduation?

It depends on what the grandparents can afford. A good rule of thumb, though, is to give something equivalent to the graduation gift from the parents. So if the parents are giving a $100 gift certificate, the grandparents might also give a $100 check or gift card. Or, if the parents are giving a $50 gift certificate, the grandparents might give a $50 check or gift card.

How much should parents give for college graduation?

A general rule of thumb is that parents should give their children something in the range of $1,000-$5,000 for college graduation. [1]

What do you do with graduation money?

There are a lot of great ways to use your graduation money. You could use it to pay off student loans, save for a down payment on a house, or invest in your future by putting it into a retirement account. 

Or you could use it to have fun, take a trip, or buy new clothes. Whatever you choose, think long-term about what will help you achieve your goals.  

Final Thoughts

So, is $1000 a good graduation gift? It depends on the graduate’s needs and wants. If they need some essential items, then spending less on a gift and putting the extra money towards something they need would be a better option. 

However, if the graduate already has everything they need or is looking to celebrate their accomplishments with a special purchase, then spending more on a gift may be warranted. In any case, it’s important to consider what will make the recipient happiest and most appreciated.

Reference:

  1. https://www.usnews.com/education/best-colleges/articles/how-to-prepare-for-college-graduation
Kimberlee Johnson
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