Comments on: Seven Great Gifts for College Graduates

By: skylog

skylog — Tue, 29 Mar 2011 01:47:45 +0000

this was some very good planning by your parents, on so many levels, no doubt; however, let’s not forget the role you played as well. working hard, doing well in school, and living within your means. so many today would not have done what you did and expected something anyway.

By: shellye

shellye — Mon, 28 Mar 2011 14:00:37 +0000

I have a freshman in college and bought her a suit and shoes for interviews for part-time jobs (which she now has). Love the idea about Dave Ramsey’s Financial Peace classes; that one’s a keeper. As I recall, I got a few cash gifts when I graduated from HS and college; the lamest one I received was a giant photo album/organizer. Which I never used.

By: nimrodel

nimrodel — Sun, 27 Mar 2011 20:39:29 +0000

I graduated from college 2 years ago. I had a job lined up already, and was getting an apartment with my boyfriend (and future fiance). The best gifts at that time for me were furniture and household things for my new apartment, and cash. My parents were able to give us an old table they had sitting in the attic, and bring up some bookshelves for us. My boyfriend’s parents brought up his old desk, and bought us a tv stand. We had to get a few things, but being given those really helped.

By: tigernicole86

tigernicole86 — Sun, 27 Mar 2011 19:49:42 +0000

I got a mish mash all almost all these things after I graduated college. I had a temp job about 3 minutes away from where my grandmother worked and so we commuted together.She provided the car and gas and gave me a place to stay. Add in that she loved to shop and I got some more fun clothes. :)

By: wylerassociate

wylerassociate — Sun, 27 Mar 2011 18:09:30 +0000

a book on personal finances and understanding/encouragement ofexploring all career options if a graduate can’t find a job in their field.

By: rewards

rewards — Sun, 27 Mar 2011 14:33:13 +0000

Along the lines of valuable lessons, it’s important to teach kids that debt incurred for college should be on par with expected pay during the first few years of the job.

By: Jon | Free Money Wisdom

Jon | Free Money Wisdom — Sun, 27 Mar 2011 05:22:16 +0000

I like the car/computer combo. I got a computer for graduation but having a car would have made it even better. Especially with transitioning to another state for work. I want to do that for my kids someday. Even if it’s an older Corolla, I think it’s great to help your kids start off on the right financial foot.

By: Hunter

Hunter — Sun, 27 Mar 2011 02:00:48 +0000

@ Darwin: I like the way your parents structured your incentive. They gave you a great gift, and rewarded you for making the most of your educational opportunity. I would like to do the same for my kids.

I have three kids under 10 years old. I won’t be paying their way through college, but I will be meeting them about half way. I will also be encouraging them to work from the age of 15. It’s so important to teach the value of the dollar, as well as have them learn the academic stuff.

Our kids will each get a silver eagle, our never ending love, the emotional support to follow their passion, and our doors will always be open.

By: Cejay

Cejay — Sat, 26 Mar 2011 18:47:51 +0000

I agree with Ceecee I would have like a great book on personal finances, a computer, and some software to track expenses. I graduated in debt and it only got worse until the economy sent me a wake up call. Of course, I could have bought one with the many gift cards I received but back then being responsible was the last thing on my mind I just wanted to party.

By: Ceecee

Ceecee — Sat, 26 Mar 2011 17:19:26 +0000

Other than cash, I think a great personal finance book would be very valuable. The one thing that many schools don’t teach is how to manage money. I’m still amazed even many older adults have no clue as to how credit works and how cd interest is calculated and such. I was lucky—my first real job was at a bank where I learned the basics.

By: Pat S.

Pat S. — Sat, 26 Mar 2011 16:57:11 +0000

I like the idea of a business suit. Kind of tracks right along the lines of… Give a man a fish, he eats for a day. Teach a man to fish, feed him for a lifetime. A business suit, some interviewing tips, maybe even a couple of courses on investing or a subscription to money magazine. Getting the grad off on the right foot will help out immensely.

By: krantcents

krantcents — Sat, 26 Mar 2011 16:26:18 +0000

When my children graduated college, we gave them cash. Each spent it something that was important to them. One used it to fund a 4 week trip to Europe, and the other used it fund a new car purchase.

By: Callista B

Callista B — Sat, 23 May 2009 07:51:16 +0000

When I graduated I got cash in gift. I wish I had got something like #3, instead of computer I do prefer smart phone. Just to keep track! If you have an iPhone, there are some great free apps like moneyStrands that let you track expenses.

By: TStrump

TStrump — Sat, 23 May 2009 06:02:13 +0000

When I was a student so many years ago, the best gift was when my mom took me out for lunch.
Restaurant food was such a treat after eating residence food for so long.
I never really cared too much for clothing, although a car would have been nice.

By: Ryan P Smith

Ryan P Smith — Fri, 22 May 2009 20:49:28 +0000

@midwestbird

That is a great idea to send them to a personal finance course to get them off on the right foot.

@flexo

Your first suggestion is a huge one. Allowing someone a few months to build up some savings before they are on their can really make a huge difference in the long term. They are less likely to use credit cards for unexpected expenses and begin that cycle if they have a little cash in the bank.

By: Darwin

Darwin — Fri, 22 May 2009 20:04:05 +0000

I have a cool one. When I embarked on my college tour, I did so with the full knowledge that I was on the hook for 50% of all costs from tuition to room and board. I went through a pretty rigorous Chemical Engineering program that took 5 years to complete and even at a state school, as you can imagine, the bill at the end was staggering.

As a really neat graduation gift, my dad said, OK, so your total share of the bill comes to X. But, as a graduation gift, since you did such a great job, etc. let’s take half off of that. This was an incedible surprise, not sure if it was planned all along or perhaps my parents’ financial situation had improved over the years, but boy, what a relief. I went from owing well, something higher in the 5 figures to lower in the 5 figures and it was something I could live with a pay back as an interest free loan over 5 years.

It taught me a few things early on about living within moderate means while in college and not trying to use my parents as a piggybank (since I was partially on the hook), and subsequently, about paying back debt (since I had no credit card debt to speak of and never have…and hope never to). I faithfully paid it back as agreed instead of leasing a new car I couldn’t afford like many of my friends were doing in their early 20s.

So, if you want to make your kid’s decade and still teach them some accountability/budgeting skills in the process, this is a neat trick to play on them!

By: Flexo

Flexo — Fri, 22 May 2009 15:51:37 +0000

Well, look at it this way. A college student going on interviews requires no more than one suit, but certain jobs require suits to be everyday attire. You could wear the same suit every day to the office, but I would advise against it. I can’t rule out work attire from the possibility of being a good gift just because it doesn’t apply to everyone in all situations.

You could make similar arguments for everything else on the list because they don’t apply to everyone, except perhaps cash.

By: Craig

Craig — Fri, 22 May 2009 15:22:45 +0000

@Flexo A suit is more understandable, but to be honest, that is something you should have before graduating. Odds are you will need a suit at some point in college, whether for job interviews, formals, presentations, etc. So I based my comment on assuming you already have a suit and other clothes are just additional clothes.

By: Flexo

Flexo — Fri, 22 May 2009 15:20:17 +0000

I don’t know, Craig. If I were a graduate about to embark on the first job requiring a suit, not only would I need that first suit, but I may not even know *how* to correctly purchase one. Not all jobs require a suit of course, so whether clothing, advice about clothing, and/or money for clothing is a good gift depends on a few factors.

By: Enrique S

Enrique S — Fri, 22 May 2009 15:16:43 +0000

My oldest is graduating high school next month, and these tips are applicable to him, too. I’m sure he would prefer #6, in copious amounts.

By: Craig

Craig — Fri, 22 May 2009 14:55:35 +0000

I disagree with #2 clothes. Being a recent grad, clothes is the last thing I would want. Grads want things they need or can help them post grad. Computer is great, car, great. Cash the best thing possible. Anything that can really help them out, especially if they don’t have a job yet.

By: midwestbird

midwestbird — Fri, 22 May 2009 14:23:33 +0000

Here’s an idea: pay to send your graduate through Dave Ramsey’s Financial Peace University.

By: Sonny

Sonny — Fri, 22 May 2009 12:37:38 +0000

When I graduated college, I got a supposedly expensive pen set. I would have rather had a new computer. To this day I haven’t used the pen and honestly have no clue where it is.

By: the weakonomist

the weakonomist — Fri, 22 May 2009 12:17:07 +0000

I got cash for graduation, which I used to buy a car. If your graduate already has decent employment lined up, I think clothes and/or rent for a few months would be a great and creative gift. It would really help make the transition.