Ask the Readers: Giving Money as a Gift, How Much?
If you've ever given money as a gift, how much did you give? This is a tricky question and probably something that not a lot of people talk about. How much money is appropriate as a gift for various occasions?
For weddings, we typically give enough to cover the cost of our meal in addition to a monetary gift for the bride and groom. For example, if the meal costs around $50 each, and two of us attended, then we would give $200 or so. Does that sound about right? Or what if you were invited to a wedding/reception, but didn't attend? How much do you give then if at all?
Birthdays/Christmas, it really depends on the person and how they are related to me. Immediate family members get the most, then come good friends, then regular acquaintances. I find though as we make more money, the gifts seem to get bigger.
New Babies, $40-$50 seems to be a pretty standard gift that we received. I'm not sure if this is normal. What do you give to new parents?
What rule of thumb do you use for monetary gifts?
Photo credit: Bill in Ash Vegas