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Proms Prices Keep Going Up

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Going to a prom is an expensive venture. Some of our areas final proms are this weekend..

A new study by Visa has found that families will spend an average of $1,139 this year on sending their child to a prom. That’s up from $1,078 last year.

A closer look at the numbers reveals some disturbing trends, too – families with an annual income of under $50,000 will spend $1,245, while families who earn more than $50,000 will actually spend less, at $1,129.

What are we spending all this money on? Dresses and shoes for the girls top the list.  Dinner and the limo are the biggest cost for the guys.

Even more surprising is that single parents will shell out a staggering $1,563, compared to the $770 married parents will cough up.

The study also discovered that parents will pay for 59% of the prom’s costs, with their kids taking responsibility for the other 41%.

[CBS]

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