Party with a Purpose: Graduation Gifts That Can Benefit Your Financial Future
It's graduation season, which also means celebrations and gifts! Many graduates look forward to having their graduation party because it is one of the few times when everyone (family, friends, neighbors, etc.) gathers around to celebrate and support the new graduate and their accomplishments. Although cash envelopes are a long-time gift that virtually anyone can appreciate, we encourage graduates to party with a financial purpose.
As you plan for your graduation party, keep in mind that the right financial gifts can benefit your future. Here are three ways that students can party with an economic purpose in mind.
New parents and newlyweds aren't the only ones who are allowed to have a registry. We also recommend it for recent graduates. A graduation registry is helpful because it informs your family and friends of the items on your wishlist that meet your near-future needs.
Depending on your desired next step after graduation, choose items that can be a true benefit. A few things that may assist you financially are gift cards, dorm room items like cooking supplies or a desk chair, or workforce items like a computer bag.
An Amazon registry is a great option, especially since it has universal items to choose from for your registry.
2. Group Gifting
If you are preparing to purchase something expensive, consider the use of group gifting. For example, if you plan to buy a car to travel back and forth between campus and work or home to college and you need help with the $5,000 down payment, ask your graduation party guests to chip in to help cover the cost.
3. Financial Knowledge
Information is an underrated gift that shouldn't be taken for granted. Whether you want to learn more about saving money, budgeting, or investing, ask your party guests to support your access to financial knowledge. By investing in your gain of financial education, you will become your greatest asset in increasing your financial health.
How are you planning to party for a financial purpose?