Gifts for grads: Ideas and etiquette for graduation season

With spring comes the busiest time of year for graduation ceremonies and parties. If you have a graduate (or two or three) in your midst, you may be wondering what's standard these days when it comes to graduation gifts.

"Cash is very appropriate, and these days, the preferred gift of choice among many high school graduates," says Charlotte Matthews, a financial adviser at Edward Jones in Cape Girardeau.

The amount of the gift is up to you.

"There really is no specific amount appropriate. You should consider your relationship to the graduate, whether they are a family member, friend or acquaintance, and be mindful of what you can afford and what your budget will allow," Matthews says.

As you receive graduation announcements and invitations in the mail, Matthews suggests sorting them into categories -- family, friend or acquaintance -- and deciding on a dollar range for each category.

Cutline-File Credit:Stock photos

If you prefer to give a more personal gift, Matthews says gift cards are appropriate. Consider the graduate's favorite restaurants and grocery stores, or what they like to do for fun, such as go to the movies or the spa.

Books, stock certificates, luggage, stationary, a camera or graduation rings also make nice graduation gifts, according to the Emily Post Institute, long revered for its etiquette expertise. Flowers are another gift that can be presented the day of the ceremony or party, or delivered to the graduate's house if you can't be there in person.

For the gift that keeps on giving, Matthews suggests helping your graduate open a Roth IRA and showing him or her how to grow their money tax-free over time, provided they don't take any withdraws before age 59 1/2 and they've had their Roth IRA for at least five years.

"Most Roth IRAs have very low minimums to get started," she says. "Consider, for possibly a family member, matching contributions in the Roth IRA for some time as an incentive for the graduate to save. Schedule a session or two with a financial adviser to learn more, and help a graduate get started on saving, budgeting and possibly paying down any debt."

If you're strapped for cash, remember that you're not obligated to give a graduation gift, especially if you can't afford it. It is appropriate, though not required, to bring a gift when invited to a graduation ceremony or party, according to the Emily Post Institute.

Young Graduate Holding a Scroll on Her Graduation Day

At the very least, your graduate will appreciate a card congratulating and recognizing his or her accomplishment.