Graduation stirs mixed emotions: excitement, fear, nostalgia, hope, boredom, pride and happiness — plus you have to think about how the graduate feels. Turning the tassel is an accomplishment that deserves to be marked, but when push comes to shove, what to buy a future college freshman or new member of the workforce is always tricky. For a gift that's cool and not a clunker, check out our tips of what to snag — and what to avoid in this graduation party season.

1. When in doubt, give money. It's easy and this is one of the few occasions where there's no stigma in handing over a card full of bills. It's a tough economy — cash is king.

2. If you feel an 18- or 22-year-old can't be trusted with a four-figure payout burning a hole in their pocket, you clearly remember your adolescence. Gift cards say "I care, but I prefer to decide where you spend your money." Keep the personality and interests of the grad in mind, though: After begging the people at Banana Republic to accept the $400 in gift cards I had to Old Navy (FYI: that's not how stores work) I discovered gift certificate swap Web sites.

3. Technology is always appreciated. For a view inside dorm (or post-grad) life, spring for a digital camera or Flip camcorder, then browse Facebook or YouTube for the results.

4. Don't get caught in traditional gift traps. No one wants an expensive pen or desk clock — no one. Charm bracelets, like other jewelry, are subject to taste. Stay far, far away from Successories.

5. Think like someone just starting out. Luggage, a nice robe and even towels can have a long and useful shelf-life, while nicer things — a digital frame come to mind — seem unnecessary.

6. Do not trust the media to tell you what the younger generation is into these days. He may be on the cover of People magazine, but if an 18-year-old wanted to own a Justin Bieber album, she would have bought it already.

7. From Dr. Seuss to Dr. Phil, apartment and dorm shelves are filled with tomes offering grads useful advice or reflection. And that's lovely, except these books tend to be mostly used in the killing of bugs.

8. Reference a hobby, whether it's cooking, outdoor gear, music or, you know, home bartending.

9. Most members of Generation Y know that experiences bring more pleasure than things. A great present is a plane ticket, and the best present ever is an around-the-world plane ticket.