Congratulations Class of 2011!  It's time to help our new crop of college graduates celebrate four years of hard work, and lots of money, hopefully, well spent!

But what's a good gift for today's college graduate?  Well, we all know that what most graduates really want is cold, hard cash—especially in an economy where they might not land a job right away.

But, before we dive into some gift ideas that are a little more personal, let’s think about that cash idea for just a minute...

Daria and I don't normally like to give cash as a gift, but college grads can be the exception.  A cash gift could be used to help them start their post-graduate life on solid financial footing. 

The college graduate in your life could use cash to pay down a student loan or a credit card balance, help with the first month's rent of their first apartment, make the first payment on a new car, etc.

Recent college graduates often also need help getting settled into that new apartment or figuring out how to eat now that dorm food is a thing of the past.  Consider gift cards for the grad's favorite local restaurant, Home Depot, Wal-Mart, even the local Starbucks.

And every money-strapped grad will appreciate a pre-paid credit card from American Express or Visa that they can use at thousands of retailers for such items as their first business suit, briefcase or office supplies.

Beyond Cash

Here are some other ideas that can help them find a job or with their new job if they're so lucky as to have one:

• A laptop computer (there are some great bargains available) or iPad
• An iPhone or Blackberry will help a grad get organized and connected
• A resume writing service that will help them succeed if they are job hunting
• A pre-paid phone card or pay for a few months of their cell phone plan (a good idea parents, if you'd ever like to hear from your grad again!)

Money Gifts That Keep On Giving

Finally, here are a few ideas that will encourage your graduate to become a savvy investor and saver from day one:

• A one-year online subscription to The Wall Street Journal
  
• Help your graduate open an IRA and deposit some seed money
• Get your graduate started on the path to investing by buying them a few shares of stock from the company at which they work, a company who's product they like, etc

CONGRATS again to this year's college grads and good luck out there!  We can't wait to see the great things you accomplish in the years ahead.

Read More In: College Family & Money Invest Wisely IRA