Celebrating the graduate in your life? Better plan on opening your wallet but it’s not always easy figuring out how much to give.
It’s a time of new beginnings when teenagers say sayonara to high school while those in college prepare to enter the “real” world.
If you want to spoil the graduate in your life, plan to give some cash. According to a survey by The National Retail Federation, the average person buying gifts will spend about 102 bucks.
Sorry grads. That’s a little less than last year’s average of roughly 105 dollars.
Giving that green will be the most popular gift, especially if it is inside a greeting card.
32 percent of those surveyed say they will give a gift card instead. 10 percent are giving electronics.
One growing trend? Friends giving friends gifts.
45 percent of those ages 18 to 24 will spend about 74 dollars. Mostly on cash and a card.
Those 65-years and older, like grandparents, plan to give an average of 107 dollars.
The biggest spenders are the parents, ages group — 45 – 54 who are forking over nearly 120 dollars.
In total, spending on the class of 2019 is expected to reach 5.2 billion dollars. Not bad for the recent grads.
Free download: Access Connecticut breaking news, weather, stream newscasts live and more on-the-go with News 8 alerts directly to your phone.