Prom costs are hitting parents' wallets hard this year

Prom costs are hitting parents' wallets hard this year

POSTED: Thursday, April 25, 2013 - 5:19pm

UPDATED: Thursday, April 25, 2013 - 5:26pm

Prom is a huge night for high schoolers all across America. Although the only thing bigger than this event, is student's and parents' bank statements after the night is over. This one night to remember is anything but cheap. The list of prom necessities include anything from tanning to the limo, and a dress can run for as much as five hundred dollars. A new report from Visa shows that the average high schooler spends $1,039.00 for this dance, which is a five-percent increase from the year before.

Luckily for high school boys, much of the cost comes from buying the perfect prom dress. Although, Carol Frennier of Weddings A to Z tells KETK, there are ways to cut down on these high prom prices. Frennier says if you do not want to buy a used dress, selling one of your older ones is always an option. "If you love your dress you can bring it in for consignment so hopefully we can see it for you, so next year you can have money for your dress."

If you are having trouble budgeting your prom necessities this year, there are also personal finance applications for your phone, which allow you to budget your prom purchases. These applications include Visa's "Plan It Prom", which allows users to budget everything from clothing to flowers.

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