May 12, 2015 Fact of the Day: Wealthy households give out more during which graduation?
DID YOU KNOW THAT WEALTHY HOUSEHOLDS ARE LIKELY TO GIVE MORE FOR A COLLEGE GRADUATION THAN A HIGH SCHOOL GRADUATION GIFT?
Thirty-one percent of wealthy households spend more than $100 on a high school graduation compared to 56 percent who will spend more than $100 on a college graduation gift. Forty three percent of households are likely to give $50-100 for a high school graduation while 31 percent will give $50-100 for a college graduation. Not surprisingly, wealthier households are the most likely to give the largest gifts with 14 percent of those with more than $5 million giving over $200 for a high school gift and 31% giving more than $200 for a college graduation gift. Those under age 40 are more likely to give smaller gifts.
Who are these graduations gifts given to? Ninety one percent give to immediate family while 50 percent also give graduation gifts to close friends. Forty one percent will give graduation gifts to extended family while 23 percent give gifts to anyone that invites them to a graduation party.
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