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Practical Money Matters Radio Series

February 13, 2012
Senior Prom Sticker Shock

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Is your family struggling to afford the incredible costs associated with senior prom?


Parents, if you've got high school students, you already know what an expensive year it's been. Now, get ready for prom. In recent years, prom inflation has run amok. A survey we conducted revealed that the average family plans to spend $800 for things like a prom dress, tuxedo rental, shoes and accessories, flowers, event tickets, limo rental, hair and make-up, dinner and after-prom events. Here are a few tips:

  • Shop for formal wear at consignment stores or online. Some stores even rent prom dresses.
  • Split a limo with other couples.
  • Team up with other parents to host a pre or after party.
  • Get make-up done at a department store.

Bottom line: Start planning next year's prom budget now.

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