Contact Us

Prom Spending Down [AUDIO]

Families in our region of the country may end up putting out more money than the national average, but a new survey suggests the “prom spending bubble” has burst.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

prom couple
Susan Prentice, ThinkStock

According to a Visa survey of parents across the country, the average family will end up spending $978 on high school prom this year. The projected figure is down 14 percent from last year.

Meanwhile, the teenage prom-goers themselves plan to pick up a bigger share – 44 percent – of the tab this season. The survey found parents will still foot more than half the bill.

The survey also spotted differences in pay projections based on the segment of the country, and New Jersey landed in one of the most expensive regions.

“In the northeast, an average family will spend just over $1,100 on prom still, which is above the national average,” said Nat Sillin, Visa’s head of U.S. financial education. “The coasts spend the most.”

When you add up the outfits, transportation, corsages and other expenses, Sillin said, prom still ends up being a significant financial hit for almost any family. He suggested parents set a budget with their children beforehand, and stick to it.

Visa has released a special prom budgeting app, Plan’it Prom, which features a calculator, countdown and timeline.

Best of WOBM

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for WOBM Listener Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive WOBM Listener Club contests, events, coupons, presales, and much more delivered to you for FREE.