Written on April 26, 2013 at 4:45 pm , by Jonna Gallo
Admittedly, I have time before I have to think about prom in any real way – my oldest turns 9 this summer – but I read prom-related stories and stats with fascination. According to an annual survey by Visa, parents in the Northeast (where I live) can expect to shell out $1528 this year, down a bit (really!?!) from 2012. (To help keep tabs on expenses, Visa suggests its free budgeting app called Plan’it Prom, available at the iTunes store, Google Play and practicalmoneyskills.com/prom.) Overall, parents say they’ll cover 59% of prom costs, with teens shouldering the burden for the rest. I’m curious as to what you think – is a 60/40 split about right? I feel like I have no frame of reference. Off the top of my head, a $1500 night out kind of blows my mind, no matter who’s paying.