As the summer heats up this 2012, so will the numerous high school graduation parties. I know when such events arise I’m always interested in what my family budget and spending should be for these situations. Luckily, there is research on average family spending for high school graduations.
What does the average family spend on gifts for high school graduation?
The Average Family is Budgeting $99.94 in 2012
According to the National Retail Federation, the average family is budgeting $99.94 this year in gifts to celebrate Johnny or Jane’s pomp and circumstance. Per graduate, families are budgeting roughly $51.48.
Hopefully, you are inviting a lot of people because at $51.48 per attendee, you are going to need to invite about 250 people just to get through your first year of state school. May I recommend a stadium of guests?
No Surprise: Men Outspend Women
As I wrote in US News and World Report, women are far better gift shoppers then men. Graduation gifts are no exception. Although, women do not pummel the average male’s budget by the usual large deficit. Men are planning a total budget of $109.74 (over the average…of course). Meanwhile, women are looking to spend a total of $90.70 (below the average…of course).
Way to go guys! The average lady’s budget is only 17% lower than yours (much better than the 50% on Valentine’s Day).
Grandparents Love Grandchildren
…And it shows in the graduation gift spending. By age demographic, those 65+ spend the most per recipient of any other age group. On average, they’ll pay out $63.96 per recipient on gifts for the youth. Perhaps it’s all the leftover money from when a college degree cost less than a house.
Money is Popular
Don’t know what to give a new graduate? Do what everyone else does and give them money. Over 57% of families plan on shelling out cash over other potential gifts. Cards were the second most popular gift with 40.8%. Gifts cards were a distant third with roughly one third of families.
I know I personally aim for about $30. Although, I suspect I’ll be spending a lot more on my own children.
What are you to get out of this post? I guess, it’s that you should invite mostly men, all 4-12 grandparents and get your signature on for all the checks.
I wish all this year’s graduates well in future endeavors and congratulations on your achievements!
What are you budgeting for gifts for your graduate? Do you think $50/person and $99.94 total is too high or just right?
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