Gathering parental feedback from the guardians of the 2025 graduates' class
New and Improved Version:
Holy smokes, it seems like the majority of parents out there are keeping it real when it comes to their kid's graduation bash! The lowdown from our survey suggests an astounding 30% are planning to shell out less than 20 grand, with another 21% aiming for the $20k-$30k range. It's a whole different ball game if you don't have the cheddar to spend; 15% of folks admitted their wallets are a bit on the empty side.
Let's break it down: The survey questionfocused on the big question, "How much you planning to spend on your kid's graduation party?"
Here's the low-down on that:
- Money Talks: The big spenders? Just 6% are considerin' dropping around $100k on the shindig. Another 6% are thinking about a mid-range shindig, forking out between $50k and $100k.
- Choosin' Sides: Things got more reasonable with 22% aiming to spend between $30k and $50k. Then, there's the majority of parents, 21%, who plan to spend between $20k and $30k – not bad, huh?
- No Budget, No Party: If you ain't got the funds, it's cool; 15% of folks say they'll be skipping the party altogether.
All in all, 1,188 parents took the survey.
Going beyond the basics, here's some insight on graduation spending trends:
- Gift Giving: According to a national survey, the average amount people splurge on graduation gifts is around $116. So, it seems like the focus is more on individual gifts rather than the party itself.
- Party Boosters: Specific numbers on how many parents plan to hide the 20k on their kid's party aren't out there. But, considering the typical budget-conscious approach and the focus on gifts, it's safe to assume that most parents would probably fall into this category.
- Money Matters: Middle-income families are more likely to spend between $500 and $2,000 on summer childcare activities. This suggests that a similar budget-friendly approach might be at play when it comes to graduation celebrations. High-income families might spend more, but lavish parties costing over 20k ain't exactly the norm.
So, there you have it! Looks like most parents are keeping it chill on the graduation party spending front.
While the focus of the survey was primarily on graduation party spending, it's worth noting that there are also considerations in terms of personal-finance implications. For instance, middle-income families typically spend between $500 and $2,000 on summer childcare activities, suggesting a budget-friendly approach might extend to graduation celebrations as well. Additionally, understanding the average amount spent on graduation gifts (around $116) can help individuals plan their personal-finance budget for gifting during such occasions.
