The Prom Will Cost 33% More This Year: More Than $1,000 Per Kid!
It’s spring, which means the start of prom season…and if your kid wants to go, it’ll cost you.
A survey by Visa found that the average prom costs $1,078, up more than 33% over last year.
The survey also found that families that earn the LEAST spend the MOST on prom preparation. Families that make under $50,000 a year spend $1,300 on the prom…and families that make $20,000 to $30,000 spend DOUBLE that, $2,600.
On average, parents cover 61% of their kids’ prom expenses, while the kids only pay 39%.