When it comes to graduation gifts, we are generous.

The Georgia Retail Federation says families across the state will spend more than ever on graduation gifts this year than ever before.

Cash is still the number one gift followed by gift cards, clothes, and electronics.

Nationally, Americans will spend $5.6 billion dollars on graduation gifts, topping last year's record of $5.4 billion.

While ages 18-24 are the most likely to give a gift to graduates (at 48 percent), they maintain the smallest budgets at $78.42.

The biggest spending is likely to come among 45-54-year-olds at $119.84, as well as those in the grandparent bracket of 65+ who plan to spend an average $112.34.

"It's going to be a good year for graduates, no doubt," says James Miller with the Georgia Retail Association.

He says the uptick in money spent on graduates is due to an improving economy.