Practical Gifts for College Graduates

May 1, 2008 By Debbie Dragon

It’s about that time of year when college students everywhere sell their used textbooks back to the college bookstores for pennies and return home to show off their shiny new diplomas. Graduation gifts are more than commemorating the earned diplomas; they can also be practical and valuable in the “real world”.

A Money Management Book and/or Magazine Subscription: with the exception of accountants and other financial folks, most college students graduate without so much as a Money Management 101 course. Graduating college typically means graduating into the world of having to repay debts. Most students use student loans and credit cards during their years of higher education, not to mention new expenses when getting an apartment or house.

Something for the New Place: Most graduates leave college dorms, parents houses, or shared rentals to move into more adult living spaces. While your gift giving budget may not be able to swing a new living room furniture set, you could get a piece of artwork, new bed sheets, towels, or a new set of dishes.

Gift Certificate for Clothing: While graduates love receiving cash, gift givers sometimes want to know the money is going to something specific - like clothing for job interviews. If you want to give the gift of clothing without actually guessing their size or style, consider gift certificates for a clothing store with business attire. Give the certificate in a card that explains what it’s for (clothing to look professional at your job interview/first day on the job, etc).

Start the Graduate’s Retirement Fund or House Savings: Entering the “real world” out of college is overwhelming. Suddenly, all of the student loans borrowed start requiring monthly payments, and grad’s are often faced with new living expenses they’ve never had to pay before. Saving for retirement is not likely going to be on their minds, or possible the first few years, and as everyone knows- the earlier you start saving the better off you’ll be. Contribute to a Roth IRA for the graduate (you can even pool money together from several family members to make a larger contribution- up to $5,000). If you want to help your new grad save for a downpayment on his or her first home, consider a Certificate of Deposit.

A Stocked Pantry: An extremely practical gift for new graduates is food. It may seem a bit strange, but helping a young adult stock their pantry with non-perishables is a fabulously valuable gift that will help the grad get on his or her feet. You can place soup cans, cereal boxes, pasta and sauces and other food varieties into a decorative basket or laundry basket, and slap a bow on!

Posted in Giving, careers, children, education, family, food, miscellaneous, parenting

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