9 Financial Gifts to Give a Graduating Senior
Can you believe it's graduation season again? Thousands of graduates will celebrate with their family and friends the completion of their schooling, whether it's high school, college, medical school, law school, etc.
Now what do you get these graduates embarking on a new journey? I updated my 2021 blog post to share new ideas that might make your graduate overjoyed. Here are nine ideas to help recent graduates embark on their journey into adulthood!
Student Loan Payments - With the student loan pause potentially ending in August, helping a graduate out with a payment would be a great gift! Find out how much they owe and pay a payment for them, even if it's $100.
Buy them a slice. A slice of shares, that is. Stock slices are fractional shares of a company. You can open a Charles Schwab account for the new graduate or send them slices as gifts.
If you can, pay their first month's rent/mortgage payment, offer to pay their security deposit or the first month's rent. When I moved to California for my first duty station, my mom was generous in helping me pay half of my security deposit.
Pay for their first financial planner session. Financial planners are a great asset for anyone, especially young adults. Check out CHIPP Co to hire Black & Latinx Certified Financial Professionals.
Send them a gift card or gift them miles for their favorite airline. They may need a getaway after studying so hard.
Purchase a month's worth of groceries. Groceries have risen due to inflation, and offering to buy groceries for your new graduate might help offset their costs.
Send their resume to your network. If you know the graduate well and trust their work ethic, why not make a few introductions on their behalf? This call may open up new opportunities.
Purchase a few outfit pieces for their new wardrobe. Your recent graduate will need critical elements in their closet, so offer to purchase their first suit/business casual/remote work outfit.
IRA Contribution. If your graduate has an IRA, place an IRA contribution toward 2023. If they have set one up yet, check out this video to set one up this week.
Buy them the following financial education books:
Growing Money: A Complete Investing Guide for Kids by Gail Karlitz
I Will Teach You To Be Rich by Ramit Sethi
The Millionaire Next Door by Thomas J. Stanley
The Psychology of Money: Timeless lessons on wealth, greed, and happiness by Morgan Housel
These books will offer your new graduate a solid financial foundation and a better understanding of their financial future.
Helping new graduates launch into the world is precisely what they need to move into adulthood! What is something you gifted to a graduating senior this year? Share in the comments.