Wednesday, July 8, 2015

Going to prom costs how much?! New study reveals shocking price tag

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According to a new study from Visa, prom will set parents and teens back a cool $978 this year.

See Matthew McConaughey’s Prom Photo! Plus, 10 Other Celebs at Prom

That price might sound extreme, but it’s actually down 14 percent from 2013 (when the average price came in at $1,139!). While spending nearly $1,000 on one night can leave you with sticker shock, the price does cover everything from the perfect dress and accessories, primping, limousines, tuxedo rentals, and the prom ticket.

Perhaps the good news (if you’re a parent) is that on average teens cover 44 percent of the costs using money they’ve saved. Dads tend to spend nearly twice as much as moms, shelling out approximately $1,357 versus $673. The data also suggests parents get thriftier as they age since those over 40 only spent $842 compared to parents under 40 who spent $1,047.

See Parade Editors at Prom

So where do families spend the most on prom? Here’s a breakdown by region:

Western families will spend an average of $1,125
Northeastern families will spend an average of $1,104
Southern families will spend an average of $926
Midwestern families will spend an average of $835

How much did you spend on your prom?


Ashleigh Schmitz
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