The school year is wrapping up – and that means it’s about time for that annual flood of high school and college graduations! You want to show the graduates in your life some appreciation, but you also want to stay financially savvy during this season.
Here are 3 ways you can show some love to the grads in your life – all while keeping an eye on your budget.
Save Early
If you wait until those graduation invites start rolling in, your wallet may get a painful wake-up call. Instead of one big lump sum during May, start saving for graduation gifts ahead of time, putting away $10 or $20 per week for a couple months. If you plan to buy gifts, space out your purchases over a few weeks rather than buying them all at once.
Be Creative
You don’t have to get your grads the latest tech gadget to show them that you’re proud of them! Creative gifts like a coupon for a care package or a college survival guide with laundry essentials and school supplies can be fun, inexpensive, and guarantee that they’ll actually use it!
Throw a budget-friendly party
If your son or daughter is the one graduating, a grad party can make a big dent in your checking account – but a few swaps can help you save a bundle. Paper invites can be expensive, so invite local friends using Facebook Events and save mailed invitations for long-distance guests.
By throwing your party in the mid-morning or mid-afternoon, you can serve light snacks rather than a full meal. Instead of a pricey venue, host the party at your home or in a local park, and consider co-hosting the party with another graduate to save on costs.
Need more insight into how you can show some love to the grads in your life – all while keeping an eye on your budget? Request a free session with Strong Tower Consulting, and get your custom plan to save money, pay off debt, and build wealth!
