Students save for years to afford graduation celebrations

Danish high school students are saving for years to cover the steep costs of graduation festivities, a practice that has drawn praise from financial experts, reports DR.

Thilde Højer Torp Andersen, a student at Hjørring Gymnasium, began setting aside money in her first year, knowing the expenses would add up. She has spent roughly 5,000 kroner on a graduation cap, a decorated truck ride, shared clothing, gifts, and drinks. Her parents also contributed to some of the costs.

“I think many underestimate how expensive it actually is to graduate,” said Betina Grimstrup, a private finance expert at Nordea.

Grimstrup noted that students typically spend nearly 11,000 kroner on celebrations, with individual costs ranging from 3,000 to 15,000 kroner. She added that young people today have a better grasp of their finances than a year ago, with more actively saving and feeling secure about their economic situation.

Estimated graduation expenses, according to Grimstrup, include 2,800 kroner for a cap, 1,800 kroner for a shared truck, 2,000 kroner for clothing, 3,000 kroner for parties, 250 kroner for roses, and 900 kroner for a shared summerhouse rental.