Consumerism Commentary - Latest Comments in Seven Great Gifts for College Graduates

Re: Seven Great Gifts for College Graduates

Callista B — Sat, 23 May 2009 03:51:16 -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.

Re: Seven Great Gifts for College Graduates

TStrump — Sat, 23 May 2009 02:02:13 -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.

Re: Seven Great Gifts for College Graduates

Ryan P Smith — Fri, 22 May 2009 16:49:28 -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.

Re: Seven Great Gifts for College Graduates

Darwin — Fri, 22 May 2009 16:04:05 -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!

Re: Seven Great Gifts for College Graduates

Harlan Landes — Fri, 22 May 2009 11:51:37 -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.

Re: Seven Great Gifts for College Graduates

Craig — Fri, 22 May 2009 11:22:45 -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.

Re: Seven Great Gifts for College Graduates

Harlan Landes — Fri, 22 May 2009 11:20:17 -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.

Re: Seven Great Gifts for College Graduates

Enrique S — Fri, 22 May 2009 11:16:43 -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.

Re: Seven Great Gifts for College Graduates

Craig — Fri, 22 May 2009 10:55:35 -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.

Re: Seven Great Gifts for College Graduates

midwestbird — Fri, 22 May 2009 10:23:33 -0000

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

Re: Seven Great Gifts for College Graduates

Sonny — Fri, 22 May 2009 08:37:38 -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.

Re: Seven Great Gifts for College Graduates

the weakonomist — Fri, 22 May 2009 08:17:07 -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.