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It's graduation time! Here are tips for saving on a celebration

How to congratulate a high school or college grad without taking on your own “student debt.”
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high school students graduates tossing up hats over blue sky.

MINNEAPOLIS — Summer is almost here, and high school and college graduates either have, or will soon cross the stage with diploma in hand and a bright future ahead. 

So it's time to celebrate, right? 

According to lifestyle website "The Nest" there are five things you need to consider when figuring out grad party costs: location, invites, food, drinks, entertainment and labor.

First and foremost, how much should an average graduation party cost? Financial service site FinancialBuzz.com said in 2022 the average American spent around $1,100 on a party for 60 people. That number includes food, drinks, decorations, tables and settings.

Credit: KARE

That figure does not include money for renting a tent or a venue. 

Breaking that number down with state data shows that on average, in Minnesota a graduation party will run you about $18.64 per person. In Wisconsin the cost is slightly higher, averaging out to around $18.79 per guest.

So what are some things families can do to cut down on the costs? 

  • Host the party yourself to save on rental and cleaning fees
  • Send e-vites instead of having cards and envelopes printed
  • Instead of having food catered, invite friends and family to bring sides and desserts for a potluck-style meal

Another consideration for those attending graduation parties is what to give a graduate as a gift. 

ConsolidatedCredit.org said that the average gift amount for a grad is $114.89, and the top gifts are cash, cards, gift cards, apparel and electronics.

Credit: KARE
Credit: KARE

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