Why Prom Costs $1,139
It was on the Kickin' Impossible Question Monday. The average cost that a high school couple will spend on prom is $1,139.
Gee whiz! I remember a much less expensive time. I think with the corsage, gas for Dad's vehicle and dinner, I had about $60 tied up in the night. Of course, that was 1980. The good ol' days. No computers, no smart phones and we walked a mile to school. Up hill both ways.
According to a new survey from Visa, the average family will spend $1,139 on prom this year. That's up from $807 in 2011.
Glamour magazine quoted Marshal Cohen, chief industry analyst at NPD Group. He says, "In today's world, teenagers and young adults have lost most of their discretionary buying power." He also says that after a year of being frugal, families give their kids permission to splurge. Cohen says prom is second only to their wedding.
Cohen says prom spending is back in a big way, but that doesn't mean people are spending irresponsibly.
That's not to say that girls aren't spending more on dresses and sometimes buying two pairs of shoes. One for the prom and the other for afterwards. Transportation and restaurant costs are adding up too.
I'm sticking my neck out by saying I think families in Kickin' Country are spending less than $1,139 for prom. Girls have access to second hand markets and swaps for beautiful prom dresses. As for food and transportation, kids date in groups and share the costs of those items together.
Do you remember how much you spent for your prom?