SoFi

College graduates who have been bit by the travel bug but don’t have the funds to see the world might still have the opportunity to travel by working abroad after college. Living and working in a new country may have its challenges, but the experience may also transform graduates in ways that are likely to be impressive to future employers.

The Pros and Cons of Working Abroad

Though it can be an enjoyable experience, working abroad can also have challenges. Considering both the pros and cons is recommended before making this life-changing decision.

Pro: Making Money While Traveling

Working abroad allows graduates to start their career while also having the opportunity to travel. This can be a popular post-graduation choice for students who want to travel but don’t have the funds. Moving to a new country generally makes it easier to truly explore and get to know a country better.

Traveling to nearby countries may be easy, as well. Instead of visiting a single country during a one-week vacation, traveling workers might be able to experience multiple countries and cultures.

Recommended: Ways to Be a Frugal Traveler

Pro: Learning the Language

Living abroad gives people a great opportunity to learn a new language or sharpen their skills in one they already speak. Every situation, from ordering breakfast to figuring out transportation, will give recent grads an opportunity to improve their language skills. The ability to speak more than one language might also open more doors in the job market. Being multilingual has become an increasingly desired skill, and learning a language while abroad could pay off in the future.

Con: Culture Shock

Unfamiliar surroundings. A different culture. Moving to a new country means making adjustments. People will communicate differently, eat differently, work differently. Every part of life will be new, which can be both exciting and stressful. Adjustment to life in a new place may be experienced in a range of stages, beginning with excitement and enthusiasm, with maybe some frustration in the middle, to feeling at home in new surroundings and building relationships.

Con: Language Barrier

Dealing with a language barrier can be stressful and scary. Not only can a language barrier make daily activities difficult, it can also make building relationships slow-going. This can feel isolating for people who don’t understand the local language.

Finding Jobs

Finding an international job isn’t all that different from finding one here in the states. Recent grads might consider looking on well-known job search sites or those specific to finding opportunities in other countries. Some overseas job opportunities might be found on websites for international humanitarian organizations, travel magazines, or even the United Nations.

Requirements to Work Abroad

Getting a passport or travel visa and an employment visa are important parts of preparing to work in a foreign country. Most countries grant specific work visas to international workers, but the requirements and processes for getting the visa will vary by country.

It’s also important to know whether or not fluency in the language is required. People who are not fluent in a language other than English and do not want to learn before moving may want to consider countries where English is the official language.

Employment Abroad

Graduates who like to think long term may want to consider applying for jobs with global companies that have positions in multiple countries, including the United States. This may open up opportunities to move back to the U.S. in the future.

One popular choice for working abroad is teaching English. A teaching degree may or may not be required, so make sure to check the requirements in the country you are considering.

Another popular option is to look for seasonal work, such as jobs in the tourism industry. This can include working at a ski resort, a hostel, or bartending at a local restaurant. People who enjoy caring for children might be interested in working as an au pair, which typically includes room and board in addition to a salary.

Other Post-Graduation Decisions

Finding a job isn’t the only task that begins after graduation. Once a student graduates, drops below half-time enrollment, or withdraws from school, the task of paying back student loans begins. Direct Subsidized, Direct Unsubsidized, and Federal Family Education Loan borrowers have a six-month grace period before they’re required to start making payments. Students who took out a Perkins loan have a nine-month grace period.

Refinancing student loans into one new loan may offer borrowers a lower interest rate or different terms than their existing loans. Both federal and private student loans can be refinanced, but when federal student loans are refinanced by a private lender, the borrower loses federal benefits, such as income-driven repayment plans, loan forgiveness programs, deferment, and forbearance.

The Takeaway

Whether your future employment is in the U.S. or in a foreign country, there are many options to consider. Pros of working abroad after college include gaining new work and life experiences, learning a new language, and making money while traveling. Cons of working abroad include experiencing culture shock and language barriers, and possibly missing out on events back at home.

However, no matter where your future employment takes you, if you have a student loan, repayment will follow.

If refinancing a student loan is something you’re considering, SoFi has options that may work for your situation. Saving money is simple with SoFi’s online application process, low fixed or variable rates, and flexible terms.

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

Getting invited to a wedding is an honor — it means you are seen as a valued part of the couple’s life. However, it also means you’ll need to start thinking about what to give as a wedding gift and, the thorniest of wedding etiquette issues, how much you should spend. You may also wonder when to give a wedding gift (do you really have a year?) and, if you’re not going to be able to attend, if you still need to send a gift.

Navigating the intricacies of wedding gift etiquette can be tricky for everyone. But don’t stress. What follows is a modern day guide to wedding gift etiquette that will help ensure you give an appropriate wedding gift without going broke.

8 Wedding Gift Rules to Follow

What follows are eight essential wedding gift etiquette rules and customs all guests need to know.

1. Spend an Appropriate Amount

Some people think that how much to spend on a wedding gift should be based on how much is being spent on you — in other words, cover your plate. For example, if you think a reception costs a couple $150 per person, that should be your gift value. But, the truth is, how much you spend on a wedding gift should depend more on your relationship to the couple, how far you’re traveling for the wedding, and your own financial situation.

On average, guests spent $160 on a wedding gift in 2022, according to The Knot. But that may not make sense for everyone. If you’re younger or just out of college, spending $50 on a friend’s wedding might be just right. If you are very close to the couple and attending with your spouse or a date, you might give $250 or more. There is no one “right” amount to give as a wedding gift.

2. Budget for Other Expenses

When considering how much to spend on a wedding gift, you’ll also want to look at other costs related to the wedding. For example, you may be invited to other events that call for giving a gift, such as an engagement party and shower. In that case, you might allocate a certain percentage of your total gift budget for each event, such as 20% each for the engagement and shower gift and 60% on the wedding gift.

Also consider travel-related expenses and the cost of attire. If you are in the wedding party and have already maxed out your budget due to other costs, like hosting a bachelorette/bachelor party or buying a bridesmaid dress/groomsmen suit, then it is okay to simply give a small token gift for the ceremony.

Also keep in mind that if you’re invited to a destination wedding, your presence may actually be enough of a present. It’s likely that the couple will understand if you give a thoughtful handwritten note in lieu of a gift, or give them a smaller gift.

Recommended: Destination Weddings: 8 Awkward Money Questions, Answered

3. Use the Couple’s Wedding Registry

While you aren’t required to purchase a gift off the couple’s registry, doing so can make your life a lot easier. For one, the registry is a curated list of items the couple actually wants. It also typically offers gift ideas at a variety of price ranges, giving you a lot of flexibility. What’s more, you won’t have to worry about how you’ll actually get the gift to the couple (see rule # 6). You simply need to write a short note, input your credit card information, and hit “buy.” The store will do the rest. The registry is also a great resource for engagement and shower gifts.

4. Consider Chipping in on a Group Giftsticking to your budget. Just be sure that everyone who contributes to the gift signs the wedding card.

A group gift can be especially helpful for members of the wedding party, who may have already bought multiple shower and engagement gifts and paid for wedding attire and bachelorette/bachelor parties.

Recommended: Why Saving Money Is Important

5. Cash is Completely Acceptable

When it comes to wedding gift etiquette, it’s perfectly acceptable to give money as a wedding gift. In fact, many couples prefer cash gifts, and will even register for cash funds to help pay for their honeymoon or a down payment on a home. If giving cash through the registry isn’t an option or not your preference, you can also give cash by writing a check and inserting in an envelope with a thoughtful note.

If you do go the check route, it’s a good idea to write only one of their names on the check (to avoid potential confusion at the bank) and include both names on the memo line, and in your note, so it’s clear this is a gift for both of them. You can either mail your check in advance or bring it to the wedding (the one time you can break rule #6).

6. Don’t Bring the Gift to The Wedding

In some communities and cultures, it’s customary to bring your gift to the wedding and there will be a table at the reception where you can leave it. Generally speaking, however, it’s not considered proper wedding gift etiquette to bring a gift to a wedding (the exception being a card with a check). While you should bring a shower gift to the actual shower, it’s easier for the couple if you send a wedding gift to their home.

7. Send a Gift Before (or Soon After) the Wedding

The old rule that you have up to a year to send a gift is no longer considered proper wedding gift etiquette. Thanks to digital registries, online shopping, and two-day free shipping, it’s generally expected that guests will send a gift before the wedding or within three months of the couple getting married. This is respectful, and also avoids the awkwardness of running into the couple six months after the reception knowing that you still haven’t given them a gift to acknowledge their wedding.

8. Send Something Even if You Don’t Go

A wedding invitation is a thoughtful gesture that tells you that the couple appreciates your friendship and wants to include you in their celebration. If you are close friends or family to the bride or groom, you generally want to recognize that honor with a thoughtful note and gift, even if you are not able to attend the wedding. It doesn’t have to be a large gift. You might choose an item of nominal value from their registry or for their new home.

There is an exception to this etiquette rule, however. if you are not particularly close to the couple, you can likely get away with simply dropping a thoughtful note in the mail — and skipping the gift.

Recommended: Understanding Discretionary Expenses

The Takeaway

Just like weddings themselves, wedding gift etiquette has evolved over time, which can make purchasing a wedding gift all the more confusing. To avoid running afoul of any etiquette rules, you generally want to pick out a gift from the registry or give a cash gift (either through registry or via check). As for how much to spend on a gift, consider your relationship to the couple, what you can feasibly afford, and other costs involved (such as traveling to attend the wedding).

FAQ

What is proper wedding gift etiquette?

Proper wedding gift etiquette involves several considerations. First, you’ll want to consult the couple’s gift registry to find out what they would like to receive. Giving a cash gift is also perfectly acceptable, and often preferred by couples. You might also consider going in on a group gift.

Ideally, you’ll want to send a physical gift before the wedding or within three months of the event. It’s fine to bring a card with a check to the celebration.

As for how much to spend, you’ll want to consider your budget, relationship to the couple, and how far you’re traveling for the wedding.

What should you avoid giving as a wedding gift?

According to proper wedding gift etiquette, you’ll want to avoid giving overly personal items (since everyone’s preferences are different) and anything that could potentially offend or cause discomfort to the couple. Also consider avoiding gifts that are overly extravagant or impractical, especially if they might burden the couple with maintenance or storage issues.

Is it rude to attend a wedding and not give a gift?

It’s customary to give a gift if you are attending a wedding. How much you spend, however, is flexible. If you have significant budget constraints, it’s perfectly okay to give a modest gift, along with a thoughtful note wishing the couple well.

Is it ever okay to not give a wedding gift?

If you are attending the wedding, it’s customary to give a gift to commemorate the couple’s special day. Even if you’re not attending the wedding, you generally still want to send a note and a gift. However, if you’re not attending the wedding and don’t know the couple well, it’s acceptable to send a thoughtful note without a gift.

SoFi members with direct deposit activity can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Direct Deposit”) via the Automated Clearing House (“ACH”) Network during a 30-day Evaluation Period (as defined below). Deposits that are not from an employer or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Direct Deposit activity. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. SoFi members with direct deposit are eligible for other SoFi Plus benefits.

As an alternative to direct deposit, SoFi members with Qualifying Deposits can earn 4.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Qualifying Deposits means one or more deposits that, in the aggregate, are equal to or greater than $5,000 to an account holder’s SoFi Checking and Savings account (“Qualifying Deposits”) during a 30-day Evaluation Period (as defined below). Qualifying Deposits only include those deposits from the following eligible sources: (i) ACH transfers, (ii) inbound wire transfers, (iii) peer-to-peer transfers (i.e., external transfers from PayPal, Venmo, etc. and internal peer-to-peer transfers from a SoFi account belonging to another account holder), (iv) check deposits, (v) instant funding to your SoFi Bank Debit Card, (vi) push payments to your SoFi Bank Debit Card, and (vii) cash deposits. Qualifying Deposits do not include: (i) transfers between an account holder’s Checking account, Savings account, and/or Vaults; (ii) interest payments; (iii) bonuses issued by SoFi Bank or its affiliates; or (iv) credits, reversals, and refunds from SoFi Bank, N.A. (“SoFi Bank”) or from a merchant. SoFi members with Qualifying Deposits are not eligible for other SoFi Plus benefits.

SoFi Bank shall, in its sole discretion, assess each account holder’s Direct Deposit activity and Qualifying Deposits throughout each 30-Day Evaluation Period to determine the applicability of rates and may request additional documentation for verification of eligibility. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Upon receiving a Direct Deposit or $5,000 in Qualifying Deposits to your account, you will begin earning 4.00% APY on savings balances (including Vaults) and 0.50% on checking balances on or before the following calendar day. You will continue to earn these APYs for (i) the remainder of the current 30-Day Evaluation Period and through the end of the subsequent 30-Day Evaluation Period and (ii) any following 30-day Evaluation Periods during which SoFi Bank determines you to have Direct Deposit activity or $5,000 in Qualifying Deposits without interruption.

SoFi Bank reserves the right to grant a grace period to account holders following a change in Direct Deposit activity or Qualifying Deposits activity before adjusting rates. If SoFi Bank grants you a grace period, the dates for such grace period will be reflected on the APY Details page of your account. If SoFi Bank determines that you did not have Direct Deposit activity or $5,000 in Qualifying Deposits during the current 30-day Evaluation Period and, if applicable, the grace period, then you will begin earning the rates earned by account holders without either Direct Deposit or Qualifying Deposits until you have Direct Deposit activity or $5,000 in Qualifying Deposits in a subsequent 30-Day Evaluation Period. For the avoidance of doubt, an account holder with both Direct Deposit activity and Qualifying Deposits will earn the rates earned by account holders with Direct Deposit.

Members without either Direct Deposit activity or Qualifying Deposits, as determined by SoFi Bank, during a 30-Day Evaluation Period and, if applicable, the grace period, will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances.

Interest rates are variable and subject to change at any time. These rates are current as of 12/3/24. There is no minimum balance requirement. Additional information can be found at https://www.sofi.com/legal/banking-rate-sheet.

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2024 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

SOBK1023021