Posted: May 8, 2012 8:46 AM
Updated: May 8, 2012 8:47 AM
Prom season is almost over, but some parents are still paying for their teen's night out. According to a Visa national survey of over 1,000 people, US families with teens are spending an average of $1,078 on prom. "Families in the Northeast are shelling out an average of $1,994 on prom this year, according to the Visa survey - at least double what families in other parts of the country are spending. The survey says Southern families spend an average of $1,047, Western families $744, and Midwestern families a relatively modest $696."
That is not a small amount of money and can be difficult for many families, especially in an economy like the one we're currently in. Financial experts are calling on parents to show restraint and teach their children to be responsible when it comes to finances. One of the most expensive items is the dress. Some girls spend as much as $400 to $500 for a dress they'll only wear one night. Costs for prom can include shoes, prom photos, flowers, a limo, dinner, tickets to the even, hair stylist, spray tans and much more.
Did you have a son or daughter go to prom this year? How much did you spend? Would you spend any amount for them?