10 Things You Should Budget for When Planning a Graduation

Planning for a graduation can be exciting but also overwhelming, especially if it’s your first time. It’s easy to overlook certain expenses or underestimate the costs of items like graduation invites or announcements with tassels. With a little preparation, you can organize a meaningful celebration without stressing over unexpected expenses. Here are 10 important things to budget for when planning a graduation.

1. Graduation Invites and Announcements

Graduation invites and announcements are some of the first items you’ll need to consider in your budget. Invitations let family and friends know about the graduation ceremony or party, while announcements with tassels serve as special keepsakes to celebrate the graduate’s achievement. These can get pricey depending on how many you need, the level of customization, and whether you’re mailing them.

Custom-designed graduation invites range from $1 to $3 per card, and announcements with tassels often cost a bit more. Don’t forget to include the cost of postage if you’re sending them through the mail—stamps can add up quickly when you’re mailing dozens of invites.

If you’re looking for ways to save, digital invites are an affordable and eco-friendly option. You can create customized templates using platforms like Canva or Etsy, which are often budget-friendly and easy to personalize. Digital invites also save on postage costs, making them ideal for those working with a tight budget.

2. Graduation Cap and Gown

The cap and gown are essential for most graduation ceremonies. They symbolize academic achievement and are often worn with pride. These items are either provided by the school or need to be purchased separately. The cost for a basic cap and gown set can range from $50 to $150.

Many schools also sell tassels that match the school colors or feature the graduate’s class year. If you’re on a budget, check if the school offers rental options or if you can borrow a set from a family member or friend who graduated recently. Personalized tassels make great keepsakes, so if it fits your budget, it might be worth the extra cost.

3. Venue for the Graduation Party

If you’re planning to host a graduation party, the venue can be a major expense. Hosting the event at home is the most cost-effective option, but if space is limited, you might need to rent a venue. Venues such as local community centers, restaurants, or banquet halls vary widely in price depending on the size and location.

For a budget-friendly celebration, consider hosting the party in a park or at a family member’s house. Outdoor spaces like parks often require only a small reservation fee, and they provide plenty of room for guests to gather and celebrate.

4. Decorations for the Celebration

Decorations are an essential part of any celebration and help set the mood for the event. Items like banners, balloons, table centerpieces, and photo props are common for graduation parties. While it’s easy to go overboard with decorations, you don’t have to spend a fortune to make the party look festive.

Consider making your own decorations. DIY banners, photo displays, and graduation-themed centerpieces are not only affordable but also add a personal touch. Look for inspiration on Pinterest for creative ideas that are easy to recreate. Stores like Dollar Tree or Target’s dollar section are also great places to find affordable decorations.

One sentimental decoration idea is to create a photo board featuring pictures of the graduate from childhood through graduation. It’s inexpensive but incredibly meaningful for both the graduate and guests.

5. Food and Drinks

Food and drinks are often the largest expense when it comes to graduation parties. The type of meal you plan to serve will depend on your budget and the size of your guest list. Catering can be convenient but costly, with prices ranging from $15 to $25 per person.

To save money, consider preparing the food yourself or asking close friends and family members to contribute dishes. A potluck-style party is a fun way to provide a variety of food without shouldering the full cost yourself. Simple options like sandwiches, chips, fruit trays, and finger foods can go a long way.

Don’t forget about dessert! Graduation cakes are often the centerpiece of the food table. You can order a custom cake, which may cost anywhere from $50 to $200, or make one at home for a more affordable option. Drinks should also be factored into your budget. Offer a mix of soda, water, and juice, and consider making a fun, non-alcoholic punch to keep costs down.

6. Graduation Photos

Photographs are a great way to capture memories of this special occasion. Hiring a professional photographer ensures high-quality photos, but it can cost anywhere from $150 to $500, depending on the package you choose. Many photographers offer bundles that include the ceremony, family portraits, and even candid shots at the graduation party.

If a professional photographer is out of your budget, consider taking photos yourself or asking a friend or family member to help. Setting up a DIY photo booth at the party is another fun and affordable option. Use a simple backdrop, balloons, and props for guests to take their own pictures.

7. Thank-You Notes

After the party, it’s customary to send thank-you notes to guests who attended the celebration or gave gifts. Thank-you cards, envelopes, and postage can add up, so be sure to include them in your budget.

Matching thank-you cards to your graduation invites or announcements with tassels adds a thoughtful touch. Many stationery stores sell affordable sets, or you can design and print your own for even greater savings. Make sure to personalize each card to express your gratitude.

8. Gifts for the Graduate

Giving a gift to the graduate is a tradition that shows your pride in their accomplishment. While cash and gift cards are popular choices, many people opt for something more personal, like a scrapbook, a piece of jewelry, or an item the graduate can use in the next phase of their life, such as college supplies or work essentials.

Decide on a gift budget that works for you and consider pooling funds with other family members for a larger present. DIY gifts, like a framed photo or a personalized keepsake, are thoughtful and budget-friendly alternatives to expensive items.

9. Transportation Costs

Transportation is an often-overlooked expense, especially if the ceremony or party requires travel. Factor in the cost of gas, parking fees, or flights if you’re traveling out of town. If you’re hosting out-of-town guests, you may also need to budget for their transportation to and from the event.

Carpooling is a great way to cut down on transportation costs, and rideshare services can also be a convenient option for guests.

10. Graduation Keepsakes and Memorabilia

Graduation is a milestone worth commemorating, and many families like to purchase keepsakes to mark the occasion. Popular items include class rings, diploma frames, yearbooks, and personalized announcements with tassels.

To avoid overspending, choose a few key items that are most meaningful to the graduate. For instance, a class ring or a custom frame for the diploma may hold more sentimental value than other items. You can also create your own keepsakes, like a scrapbook or shadow box featuring photos, announcements with tassels, and other mementos from the graduation day.

Final Tips for Budgeting

Graduation is a special occasion that deserves to be celebrated, but it doesn’t have to break the bank. Start by prioritizing the most important expenses, such as the cap and gown, graduation invites, and venue. From there, look for ways to save, like hosting the party at home or making your own decorations.

By staying organized and keeping track of your expenses, you can plan a memorable celebration that honors the graduate’s achievements while staying within your budget. It’s all about celebrating this milestone with creativity, thoughtfulness, and financial planning.