As your college graduate prepares to move into a new phase of their adult life, one thing they probably don't need is more stuff to move. Parents can still commemorate their child's achievements with less-traditional gifts that won't take up space in the moving van.
Including, of course, cash.
But before you stick a check in a greeting card, consider some alternative ways to celebrate your grad and also set them up for success.
1. Travel
Other than a spring break getaway with friends, your college grad might not have had the time or money to travel much during the past four years. A big family vacation could be a great way to kick off the summer and get everyone involved in the celebration. You could also book a solo trip for your grad that will allow them to connect with far-flung friends or family, dig deeper into one of their passions, or experience just how big and diverse the world really is.
Your grad’s travel itinerary might also include moving to a new city. You could pay for gift cards to local restaurants or memberships to clubs, theatres, and museums that will help your child remember that there's more to life after college than work.
2. Investments
Money is always an appreciated gift. But making a financial contribution towards a specific need can be a strong show of love and support.
If the cost of living is higher in your grad’s new location, you could offer to cover some moving expenses or their first month's rent. Paying for a meal subscriptions service or big box retail membership will help with grocery costs. A nice tool set might encourage them to become a little handier and save on the costs of simple repairs.
Take your new professional shopping for office attire. If they'll be travelling regularly for work, buy them a new luggage set. If they need a new car, you could offer to help with a down payment.
Creative professionals might appreciate a computer upgrade or a fresh round of art supplies.
Teachers often have to pay out of pocket for a wide range of classroom essentials. Help them load up their shopping carts and throw in a few extras for students in need.
3. Your Secrets to Success
A college grad might finally be ready to accept some serious life advice without eye rolls and hurt feelings.
Slip a letter with some words of wisdom and encouragement into your gift box. Reflect on things you wish you’d know earlier in your career and adult life. Be open about mistakes you made and successes you wish you’d doubled down on. Include a copy of a favorite book that you’ve returned to over the years for inspiration and comfort.
It might also be beneficial to open up more of your personal and professional network to your grad. Think about connections you can make that will help your child advance in their career, and also potential life mentors who might help your young adult find creative solutions to their problems and discover a broader definition of success.
Hopefully one of the most impactful lessons you’ll pass on to your graduate is the importance of starting their financial planning as soon as possible. Young adults fresh out of college often feel like they have too much debt and not enough money to start working with an advisor. But the sooner your child sets financial goals, the higher their likelihood of hitting them.
And the better your chances of never needing to cut them another check.
Unless you really want to.
Make an appointment to introduce your grad to one of our advisors and our Life-Centered Planning Process. And congratulations to both of you on reaching this major $Life transition!
