If you're looking for the perfect present for a recent grad, read this argument from Savvy Sugar in favor of cash.
If you're looking to get a newly graduated pal or family member a gift—maybe her birthday is coming up, or maybe you still haven't gotten around to giving her a grad gift—the best present you can give them is cash. My friend was complaining to me about the massive amounts of empty picture frames she received after graduation that are just piled up in the corner. With the pressure of paying off monthly student loans and scrambling to find a job in a tough market that will pay the bills, cash will certainly come in more handy than unused picture frames.
You might want to lay off the gift cards, because that's more limiting and the cards have expiration dates. It's harder to pay off the practical stuff like utility bills and rent with gift cards, and receivers are usually forced to go to a specific store to redeem them. Also, you're more likely to forget about them—SmartMoney reports that last year, $8 billion worth of gift cards went unused. If you're thinking about giving cash as a present, here are two key tips to follow:
- Give new and big bills: Since this is still a gift, put a little bit of effort and head toward the bank to request new and shiny bills that aren't crumpled. Depending on the amount, request the biggest bill possible. Give a $20 bill instead of 20 $1 bills.
- Dress it up: It's more polite to put the money in an envelope or slide it into a card. If you're looking for alternative ways to dress up your money gift, be sure to check out these options.
To read this post in its original form, head over to Savvy Sugar.